STNL Santander Bank | Absolute NNN
12 Parkside Ave, Shillington, PA 19607
PROPERTY DETAILS
Price
$995,000
NOI
$76,500
Cap Rate
7.68%
Property Type
Retail, Bank
Investment Type
Net Lease
Lease Type
Absolute NNN
Tenancy
Single
Remaining Term
5 years
Square Footage
5,468
Marketing Description
Equity Retail Brokers is pleased to offer qualified investors the opportunity to acquire the sale of a Santander Bank branch in Shillington, PA with $133 Million in deposits in 2022 (Source: FDIC). Shillington is an immediate suburb of the City of Reading located in Berks County, PA. This asset sits on approximately 1.28 acres, and has been operating very successfully as branch since February, 1997. Originally an office for Sovereign Bank, the control of this branch was transferred to Santander Bank after their acquisition of Sovereign in 2011.
Investment Highlights
- 2 Years Remaining
- Two (2), Five (5) Year Options
- 20+ year successful operating history
- Absolute NNN Lease – NO Landlord Responsibilities
- Located in Shillington, PA – an immediate suburb of Reading
- Quality Credit tenant (S&P – A1 | Moody’s – A2)
- 10th highest deposit count of all banks within a 5-mile radius (24 total branches)
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