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Key Bank 200 W Lancaster Ave 7,651 SF Retail Building Frazer, PA 19355 $2,916,666 ($381.21/SF) 6% Cap Rate
Investment Highlights
- The 5-year extension begins February 9, 2026. The lease includes 15% rental increases every five years, with the next escalation set for January 2026
- 3 drive-thru lanes and positioned at a signalized hard corner with multiple points of ingress and egress
- Located on Lancaster Ave (Route 30) with 13,000+ VPD & located across from Lincoln Court Shopping Center (1.5M visitors per year)
- Strong commitment to this location—not only did Key Bank renew their lease, but they did so early and with zero concessions
- Located in the wealthiest county in Pennsylvania–Avg. household income exceeding $200,000 within a one-mile radius
- This build-to-suit structure offers potential tax advantages through depreciation
Executive Summary
CBRE is pleased to exclusively present for sale this KeyBank property located on Lancaster Avenue in Malvern, Pennsylvania. This 7,651-square-foot KeyBank property sits on a spacious 1.1-acre parcel and features three drive-thru lanes. The site offers excellent visibility and dual access points from both Lancaster Avenue (Route 30) and South Malin Road, ensuring seamless traffic flow for customers. KeyBank has operated at this location since 2006 and has demonstrated long-term commitment by continuing to renew its lease. Most recently, the tenant opted into a 5-year lease extension beginning February 9, 2026, extending the lease through February 29, 2031. With 6+ years of term remaining and two additional 5-year renewal options, KeyBank has secured its presence at this highly visible, signalized corner property with multiple access points well into the future.
The lease is corporately guaranteed, NNN with zero landlord responsibilities, and includes 15% rental increases at the start of each renewal period, ensuring consistent income growth. Unlike many ground lease bank properties, this build-to-suit location offers tax shelter through depreciation, further enhancing investor returns.
Strategically located along Lancaster Avenue (Route 30), a major retail corridor, the property benefits from prime frontage, a signalized intersection, and multiple points of ingress and egress, maximizing accessibility and exposure.
The lease is corporately guaranteed, NNN with zero landlord responsibilities, and includes 15% rental increases at the start of each renewal period, ensuring consistent income growth. Unlike many ground lease bank properties, this build-to-suit location offers tax shelter through depreciation, further enhancing investor returns.
Strategically located along Lancaster Avenue (Route 30), a major retail corridor, the property benefits from prime frontage, a signalized intersection, and multiple points of ingress and egress, maximizing accessibility and exposure.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,651 SF
Building Class
C
Year Built
1992
Price
$2,916,666
Price Per SF
$381.21
Cap Rate
6%
NOI
$175,000
Tenancy
Single
Building Height
2 Stories
Building FAR
0.16
Lot Size
1.10 AC
Zoning
C4, E Whiteland TWP
Parking
37 Spaces (4.84 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
- -
- -
- Triple Net
- Feb 2031
KeyBank began in 1825 through the chartering of the Commercial Bank of Albany and took its current form in 1994 after a merger between Society Corporation and KeyCorp. The company provides personal banking, small business banking, commercial banking, treasury and cash management, lending, and wealth management services across a broad U.S. banking network. KeyBank also serves institutional clients through capital markets, investment banking, and advisory capabilities, while Key Private Bank supports affluent and nonprofit clients with trust, portfolio management, and charitable giving services. The business remains part of a large financial services organization with long historical roots and a diversified mix of consumer, commercial, and institutional offerings.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | - | - | Triple Net | Feb 2031 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4204 03180000 | Improvements Assessment | $500,420 |
| Land Assessment | $289,580 | Total Assessment | $790,000 |
Property Taxes
Parcel Number
4204 03180000
Land Assessment
$289,580
Improvements Assessment
$500,420
Total Assessment
$790,000
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