CVS - Honesdale, PA
202 4th Street, Honesdale, PA, 18431, US
1,232 m²
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
MYR 12,259,000
Cap rate
6.25%
NOI
MYR 769,000
WAULT
13 years
Building area net
939 m²
Land area gross
0.19 ha
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)
