Valley National Bank - Belleville, NJ

22 Bloomfield Avenue, Belleville, NJ, 07109, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present for sale the single-tenant Valley

National Bank at 22 Bloomfield Ave, Belleville, NJ (the "Property"). Located less than 15 minutes from

Newark and 30 minutes from New York City in an affluent Essex County suburb, Valley National Bank

has occupied this location for over 10 years. There is excellent transportation access via Garden State

Parkway (175K+ VPD), Route 21 (75K+ VPD), and I-280 (102K+ VPD). Valley National Bank is a premier

financial institution with a rich history dating back to 1927 and over 260 branch locations across six

states. With approximately $62.9 billion in assets, Valley National Bank stands as one of the largest

financial institutions headquartered in New Jersey.

Positioned strategically in one of Northern New Jersey's well-connected suburban markets with

exceptional transportation access, diverse housing stock, and a blend of urban convenience with

suburban character, this investment opportunity offers a secure income stream backed by a nationally

recognized financial institution with nearly a century of operational success and continued financial

growth.

...

Building area net

3,483 sf

Year built

1966

Asking price

$1,701,000

Cap rate

6.25%

Lease type

Absolute Triple Net

NOI

$107,000

Remaining lease term

8.7 years

Operating on an annual NNN lease with 8.7 years of lease term remaining and 2% annual rent escalations
Valley National Bank is the largest commercial bank headquartered in NJ with an investment grade rating (S&P: BBB)
Robust average household income of $128K+ within 1 mile radius
Located near 264,375 residents within a 3-mile radius
This location had over $62,162,000 of branch deposits for a trailing 12-month period