Listed by SRS Real Estate Partners McLean
$3,874,000
Quaint Oak Bank
Details
APN 641728299879-1
Property Type Retail
Sub Type Bank
Square Footage 6,500
Cap Rate 7.5%
NOI $290,584
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 12/19/2039
Remaining Term 13.5
Rent Bumps Yes
Price per SqFt $596
Year Built 1958
Year Renovated 2016
Acreage 0.330
Zoning B-1/R- Limited Business/Residential
Tenant Credit Corporate Guarantee
Lease Commencement 12/20/2024
Ground Lease No
Ownership Fee simple interest (land & building ownership)
Retail | 7.50% CAP | 6,500 SqFt
Investment highlights
New 15-Year Lease | 2% Annual Rent Increases | Corporate Guaranty
$120 Million in Branch Deposits | 35% Deposit Growth Since 2020 |Strong $5.64 Billion Deposit Base in Allentown, PA
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense Retail Corridor | Lehigh University | Along Arterial Thoroughfare
Strong Demographics in 5-Mile Trade Area | 3rd Largest City in PA
Listing Contacts
Listed by SRS Real Estate Partners McLean
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$290,584.00
$24,215.33/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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