Bank
Citizens Bank | Abs NNN | Strong Deposits
850 Penn Ave, Turtle Creek, PA 15145
Listing Price: $1,500,000
Cap Rate
8.00%
Tenant Name
Citizens Bank
Years Remaining On Lease
5.1
Gross SF
5,433
Guarantor
No Guarantee
Rentable SF
5,433
Price/Gross SF
$276.09
Lease Type
Absolute Net
Rent Per Square Feet
$22.09
Investment Overview
Marcus & Millichap is pleased to present for sale Citizens Bank, located in Turtle Creek, Pennsylvania.
Citizens Bank | Abs NNN | Strong Deposits
Investment Highlights
- Citizens Bank Absolute Triple-Net Lease with 5.1 Years Remaining in Suburban Pittsburgh, Pennsylvania
- Recent Five-Year Extension thru July 2030, Demonstrating Continued Commitment to the Site
- Strong Deposits of $87 Million and 22 Cumulative Increase in Deposits Over Trailing Six Years
- Absolute Triple-Net Lease - Zero Landlord Responsibilities
- Lessee Entity Citizens Bank, N.A. Carries S&P "A-" High Investment-Grade Credit Rating with Stable Outlook
- 1.0 - 2.5 Percent Annual Increases in Options (Based on Consumer Price Index)
- Located Along Penn Avenue, just 500 Feet Off of the Tri-Boro Expressway (Major East-West Arterial) with 10,670 Vehicles per Day
- City Center Location Adjacent to USPS, Neighborhood Retail Strip with Dollar General, CVS, Pizza Shops, and Turtle Creek Elementary
Broker of Record
Financing By
Listing Price: $1,500,000
Cap Rate
8.00%
Tenant Name
Citizens Bank
Years Remaining On Lease
5.1
Gross SF
5,433
Guarantor
No Guarantee
Rentable SF
5,433
Price/Gross SF
$276.09
Lease Type
Absolute Net
Rent Per Square Feet
$22.09
Investment Highlights
- Citizens Bank Absolute Triple-Net Lease with 5.1 Years Remaining in Suburban Pittsburgh, Pennsylvania
- Recent Five-Year Extension thru July 2030, Demonstrating Continued Commitment to the Site
- Strong Deposits of $87 Million and 22 Cumulative Increase in Deposits Over Trailing Six Years
- Absolute Triple-Net Lease - Zero Landlord Responsibilities
- Lessee Entity Citizens Bank, N.A. Carries S&P "A-" High Investment-Grade Credit Rating with Stable Outlook
- 1.0 - 2.5 Percent Annual Increases in Options (Based on Consumer Price Index)
- Located Along Penn Avenue, just 500 Feet Off of the Tri-Boro Expressway (Major East-West Arterial) with 10,670 Vehicles per Day
- City Center Location Adjacent to USPS, Neighborhood Retail Strip with Dollar General, CVS, Pizza Shops, and Turtle Creek Elementary
Investment Overview
Marcus & Millichap is pleased to present for sale Citizens Bank, located in Turtle Creek, Pennsylvania.
Broker of Record
Financing By
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