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TD Bank

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Marcus & Millichap is pleased to present the exclusive listing for a TD Bank located at 106 North Main Street (Route 9) in Forked River (Lacey Township), New Jersey. The property is situated on a signalized intersection on the northeast corner of Route 9 and Lacey Road. The site experiences tremendous exposure of over 57,000 vehicles each day. The property consists of 6,377 square feet of building space and is situated on roughly 2.11 acres of land.
This location has been a retail bank branch since it was developed in 1974. TD Bank boasts outstanding deposits at this location with over $246,000,000 in deposits in 2020. Deposits have grown by 50% in the past five years alone which is likely the reason TD Bank extended the term of the lease 3 years early by a period of 10 years. This far outpaces the local market as this site had 166% higher deposits than the second highest bank in the area. TD Bank has consolidated smaller locations in the area as they prefer to operate out of this well-located site that houses a loan origination office and lending department. TD Bank values this location so highly that in 2007 they chose to purchase a small parcel in order to further increase exposure at the site. This is a highly valued location to TD Bank which is evidenced by their actions in the local market, recent 10-year lease extension and meticulous upkeep of the property.
Also included in this offering is a 0.43 acre pad site located next to the TD Bank along Lacey Road. This piece of land is maintained by TD Bank, however as per the lease, the landowner has the right at anytime to build a building of 4,650 square feet. Page 10 and 11 of this offering memorandum include a concept plan for a proposed retail building of 4,650 square feet. The new building will have two means of ingress/egress that will be shared entry ways with the TD Bank. For more information on this development parcel, please contact the listing broker.

✓ TD Bank Just Signed a 10-Year Lease Extension
✓ Over $246,000,000 in Deposits in 2020
✓ Over the Past Five Years TD Bank has had a 50% Increase in Bank Deposits
✓ TD Bank has 166% Higher Deposits than the Next Highest Bank in the Area
✓ 10% Rental Increases Every Five Years
✓ TD Bank Corporate Guarantee (S&P: AA-)
✓ Additional Parcel with 4,650 Retail Development Potential Included
✓ The Property has been a Retail Bank Location Since 1974
✓ Site Features 2.11 Acres of Land | Less than One Hour from NYC
✓ TD Bank has Consolidated All of their Retail Banking in the Area into this Main Branch
✓ The Property Features Four Drive Through Lanes and Office Space for Mortgage Origination and Lending
✓ Situated on the Hard Corner, Four-Way Signalized Intersection of Lacey Road and North Main Street (Route 9).
✓ The Site Experiences Over 57,000 Vehicles Each Day
✓ Located One Hour South of New York City

Key Details

Price:
$6,400,000
Cap Rate:
4.30%
Annual Rent:
$275,000
Address:
106 North Main Street , , New Jersey 08731
Lease Type:
Triple Net (NNN)

Lot Size:
211 Acres
Building Size:
6,377 SF
Year Built:
1974
Year Renovated:
2020
Tenant:
TD Bank

Broker of record

Brian Hosey

License: 1434917


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