Bank
Citizens Bank
850 Penn Ave, Turtle Creek, PA 15145
Listing Price: $1,714,000
Investment Overview
Marcus & Millichap is Pleased to Present for Sale Citizens Bank Absolute Triple-Net Lease with Over Six Years Remaining in Suburban Pittsburgh, Pennsylvania. Lessee Entity Citizens Bank, N.A. Carries S&P "A-" High Investment-Grade Credit Rating with Stable Outlook. Located Along Penn Ave, Just 500 Feet off of the Tri-Boro Expressway (Major East-West Arterial) with 10,670 Vehicles per Day.
Citizens Bank
Investment Highlights
- Citizens Bank Absolute Triple-Net Lease with Over Six Years Remaining in Suburban Pittsburgh, Pennsylvania
- Citizens Just Executed Five Year Extension thru July 2030, Demonstrating Continued Commitment to the Site
- Strong Deposits of $95 Million; Over 15 Perent Year-Over-Year Deposit Growth and Over 34 Percent Deposit Growth Over the Past Five Years
- Absolute Triple-Net Lease - Zero Landlord Responsibilities
- 1.0 - 2.5 Perent Annual Increases in Options (Based on CPI)
- Citizens Bank has 17 to 316 Percent Greater Deposits in the Pittsburgh MSA than the #3 thru #7 Market Share Banks Having 37-75 Branches In-Market Each, Including First National Bank of Pennsylvania (locally HQ'd), Dollar Bank, Huntington Bank, KeyBank, and First Commonwealth Bank
- 5,433-Square-Foot Brick Building with Ample Parking; Dual Drive-thru Teller Lanes as well as Drive-Thru ATM and Walk-Up ATM
- Dense Infill Demographics with 10,000 in One Mile, 63,000 in Three Miles, and 200,000 in Five Miles Population Counts
Broker of Record
Financing By
Listing Price: $1,714,000
Investment Highlights
- Citizens Bank Absolute Triple-Net Lease with Over Six Years Remaining in Suburban Pittsburgh, Pennsylvania
- Citizens Just Executed Five Year Extension thru July 2030, Demonstrating Continued Commitment to the Site
- Strong Deposits of $95 Million; Over 15 Perent Year-Over-Year Deposit Growth and Over 34 Percent Deposit Growth Over the Past Five Years
- Absolute Triple-Net Lease - Zero Landlord Responsibilities
- 1.0 - 2.5 Perent Annual Increases in Options (Based on CPI)
- Citizens Bank has 17 to 316 Percent Greater Deposits in the Pittsburgh MSA than the #3 thru #7 Market Share Banks Having 37-75 Branches In-Market Each, Including First National Bank of Pennsylvania (locally HQ'd), Dollar Bank, Huntington Bank, KeyBank, and First Commonwealth Bank
- 5,433-Square-Foot Brick Building with Ample Parking; Dual Drive-thru Teller Lanes as well as Drive-Thru ATM and Walk-Up ATM
- Dense Infill Demographics with 10,000 in One Mile, 63,000 in Three Miles, and 200,000 in Five Miles Population Counts
Investment Overview
Marcus & Millichap is Pleased to Present for Sale Citizens Bank Absolute Triple-Net Lease with Over Six Years Remaining in Suburban Pittsburgh, Pennsylvania. Lessee Entity Citizens Bank, N.A. Carries S&P "A-" High Investment-Grade Credit Rating with Stable Outlook. Located Along Penn Ave, Just 500 Feet off of the Tri-Boro Expressway (Major East-West Arterial) with 10,670 Vehicles per Day.
Broker of Record
Financing By
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