CVS - Honesdale, PA
202 4th Street, Honesdale, PA, 18431, US
13,262 sf
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Fulton Bank located at 100 W Independence Street in Shamokin, Pennsylvania (“Property” or “Asset”). Fulton Bank is operating on a 15-year absolute NNN lease with ±13.0 years of primary lease term remaining, 2.25% annual rent escalations, three, five-year renewal options and zero landlord responsibilities.
PA Broker of Record: Ryan Ade - PA License #: RS291698
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Attributes
Asking price
HK$23,465,000
Cap rate
6.25%
NOI
HK$1,472,000
WAULT
13 years
Building area net
10,107 sf
Land area gross
0.48 acres
Media
Investment Highlights
- Absolute NNN lease with ±13.0 years of primary lease term remaining
- Rare 2.25% annual rent escalations
- Fulton Bank carries investment grade credit ratings of 'A' from Morningstar DBRS and 'Baa1' from Moody's
- Only Fulton Bank location in Northumberland County
- Hard corner, signalized intersection with 13,000+ VPD
- Shamokin is undergoing economic revitalization with a population of 6,800+
- Strong demand characteristics driven by 5-mile AHHI of $72K
Contact brokers
Fulton Bank - Shamokin, PA (0 Properties)
