131 White Horse PikeHaddon Heights, NJ 08035

This exceptional investment opportunity presents a fee-simple interest in a 4,810 square foot retail bank property located at 131 White Horse Pike, Haddon Heights, NJ 08035. The property is a two-story building constructed in 1960 and renovated in 2012, situated on a 0.52-acre lot. It features a dual-lane drive-thru, enhancing customer convenience. The property is currently 100% occupied by Citizens Bank (S&P: A-), under an absolute NNN lease with a remaining term of 5.6 years, expiring June 30, 2030. The lease includes annual rent bumps of 1% and three (3) and five (5) year renewal options. The current asking price is $1,841,000, representing a price per square foot of $382.74 and a 6.25% cap rate. The Net Operating Income (NOI) is $115,069. Citizens Bank boasts over $211 million in deposits as of June 30, 2024, and has a 22+ year operating history at this location. The property benefits from a high-traffic location at a signalized intersection with over 34,000 vehicles per day (VPD) and is conveniently located just over half a mile from Interstate 295 (142,200 VPD). The surrounding area demonstrates strong demographics, with nearly 125,000 residents and 52,000 households within a 3-mile radius, and an average household income of $132,000. Haddon Heights is part of the Philadelphia MSA, the 8th largest metro area in the US. This presents a compelling investment opportunity due to the strong tenant, favorable lease terms, and prime location within a thriving market.