Valley National Bank, Maplewood, NJ

142 Maplewood Avenue, Maplewood, NJ, 07040, US

Description

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

National Bank property at 142 Maplewood Avenue, Maplewood, NJ (the "Property"). Located less than

20 minutes from Newark and 45 minutes from New York City in an affluent Essex County suburb, Valley

National Bank has occupied this location for over 20 years. The Property offers excellent

transportation access via Interstates 95, 78, and 280 (combined 335K+ VPD). Valley National Bank is a

premier financial institution with a rich history dating back to 1927 and with over 660 retail locations

across 44 states. With approximately $62.9 billion in assets, Valley National Bank stands as one of the

largest financial institutions headquartered in New Jersey. The Maplewood branch also ranks in the

top 40% of Essex County branches in terms of deposit volumes.

Positioned strategically in one of New Jersey's most desirable suburban markets with exceptional

location advantages, strong community, and historic village charm, this investment opportunity offers

a secure and growing income stream backed by an investment grade, national financial institution

with nearly a century of operational success and continued financial growth.

...

Building area net

3,154 sf

Year built

1922

Asking price

$1,534,000

Cap rate

6.25%

NOI

$96,000

Lease type

Absolute Triple Net

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)
Exceptional average household income of $264K+ within 1 mile radius
Population of 616,348 within five-mile radius
This location had over $111,297,000 of deposits for a trailing 12-month period which ranks it in the top 40% of Essex County branches in terms of deposit volumes