Republic Bank (GL)

475 Haddonfield Road, Cherry Hill, NJ 08002

$2,567,000

Cap Rate 6.00%

Views: 128 DOM: 319 Updated: 09.18.24 Posted: 02.06.24 Status: Contract

Summary

Price $2,567,000	Built/Renov 1990	Tenant Republic Bank (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 3,372	Lease Start 12-01-2016	#Units 35
Price/SF $761.27	Expiration 11-30-2036	Tenant Type Bank/Financial
NOI $154,000	R. Term 11.11	Ownership Ground Lease
Rent/SF $45.67	Increases 10.0%/2/yrs	Pop 5Mi 304,194
Lot/AC 1.23	Options 4/5yrs	AHHI 5Mi $104,819

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Republic Bank has 12+ years of firm term remaining on its current lease with 4 (5-year) options to extend
The ground lease features 10% rental increases every 5 years, FMV in option periods
$172M Deposits at this branch
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Republic Bank is strategically located at the hard corner intersection of Haddonfield Road and Chapel Avenue, benefiting from a combined substantial daily traffic count of 52,100 vehicles. This prime location stands at the junction of Haddonfield Road and Route 38. Moreover, it is diagonally across from the Cherry Hill Mall, with the immediate vicinity featuring renowned national retailers...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Strategically located
Dense 200M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Absolute NNN
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Republic Bank Wikipedia Republic Bank Wikipedia Cherry Hill, New Jersey Zip Code 08002 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Republic Bank
Guarantor:Corp Traded
Company:Republic First Bancorp, Inc.
# Units:35
Stock: OTC: FRBK

About Tenant

Republic First Bancorp, Inc., (OTC: FRBK) is the holding company for Republic First Bank, which does business under the name Republic Bank. Republic Bank is an FDIC-insured financial institution...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,127	136,494	303,099
2023 Total Population :	9,202	137,659	304,120
2023 Employed Civilian Pop :	5,160	71,604	150,237
2023 Total Businesses :	880	5,311	12,358
2023 Average Household Income :	$ 129,354	$ 117,839	$ 115,549
2023 Total Consumer Spending :	$ 405 M	$ 5429 M	$ 11570 M
2023 Median Age :	42	41	40
2023 Total Households :	3,677	53,950	116,999
2023 Pop Age 25+: Bachelor's Degree :	1,232	23,215	48,175
2023 Average Home Value :	$ 340,851	$ 316,479	$ 322,098

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Haddonfield Rd	Chapel Ave W	2013	30,232	0.08 mi
Chapel Ave W	Mercer St	2011	14,430	0.09 mi
Haddonfield Road	Chapel Ave W	2020	16,974	0.16 mi
	Kaighns Ave	2019	2,020	0.18 mi
	Kaighns Ave	2020	271	0.18 mi
	Haddonfield Rd	2019	3,552	0.19 mi
	Haddonfield Rd	2020	3,544	0.19 mi
Kaighns Ave	3rd Ave	2012	53,349	0.20 mi
	3rd Ave	2019	4,537	0.24 mi
Haddonfield Road	Martin Ave	2019	29,010	0.25 mi

Listing Broker

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