SCEF Real Estate Ventures
Listed by SCEF Real Estate Ventures
$2,269,235
Price Reduction - Rent increase in July
Details
Property Type Retail
Sub Type Bank
Square Footage 2,944
Cap Rate 6.25%
NOI $141,827
Occupancy 100%
Tenancy Single
Brand/Tenant Citizens Bank
Lease Type Absolute NNN
Lease Expiration 06/29/2032
Remaining Term 6.1
Rent Bumps Yes
Lease Options 2 - 5 year options
Price per SqFt $771
Broker Co-Op Yes
Class A
Year Built 1975
Year Renovated 2021
Acreage 0.810
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Occupancy Date 06/30/2025
Ground Lease No
Ownership Fee simple
Sale Condition For sale by owner
Retail | 2,944 SqFt
Marketing description
Tenant has occupied this location since 2007, recently renovated and just renewed for 7-years starting July 2025 at a market rent with 2.5 annual increases. It is an absolute NNN lease located near high end car dealerships and Whole Foods Market (Wexford Plaza).
The property is situated just north of the "Wexford Flats" on Perry Highway (Route 19) with excellent visibility and traffic counts of more than 30,000 vehicles per day (VPD). Citizens Bank is positioned with 160' of frontage on Perry Highway with 24 parking spaces and multiple points of access including a signalized intersection.
Investment highlights
Absolute NNN Lease
New 7-year renewal starting July 1. 2025
2.5% Annual Rent Increases
Listing Contacts
SCEF Real Estate Ventures
Listed by SCEF Real Estate Ventures
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$141,827.00
$11,818.92/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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