Community Bank
Jermyn, PA
Key Details
| Price: | $1,242,857 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $87,000 |
| Address: | 645 Washington Avenue, Jermyn, Pennsylvania 18433 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 55 Years |
|---|---|
| Lease Commencement: | 8/29/1974 |
| Lease Expiration: | 8/31/2029 |
| Lease Term Remaining: | 4.6 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.35 Acres |
| Building Size: | 14,500 SF |
NNN Pro Group is pleased to present the exclusive listing for the Community Bank located at 645 Washington Ave in Jermyn, PA. The site consists of 14,500 rentable square feet of building space on an estimated 0.35-acre parcel of land. This property is subject to a new, 5-year lease, with the current annual rent being $87,000. This location has operated as a Community Bank since 1974 and boasts extremely strong deposits of over $91,000,000. This is a key location for Community Bank encumbered with a low rent lease that increases the long term viability of the location.
About the Investment
- Community Bank Recently Signed a 5-Year Extension Set to Commence September 1, 2024
- Over 50 Years of Tenancy in the Same Location! | Over $91M In Deposits at this Location!
- Absolute Triple Net (NNN) Lease With No Landlord Responsibilities | 2% Annual Increases!
- Over 134,300 Individuals Residing in a 10-Mile Radius of Subject Property
Key Details
| Price: | $1,242,857 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $87,000 |
| Address: | 645 Washington Avenue, Jermyn, Pennsylvania 18433 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 55 Years |
|---|---|
| Lease Commencement: | 8/29/1974 |
| Lease Expiration: | 8/31/2029 |
| Lease Term Remaining: | 4.6 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.35 Acres |
| Building Size: | 14,500 SF |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Broker of Record
Brian Brockman
Bang Realty-Pennsylvania, Inc
License: RM432816
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.