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Citizens Bank 2233 E Pershing St 2,900 SF Retail Building Salem, OH 44460 $734,815 ($253.38/SF) 6.76% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Site Commitment | Approximately 20 Years Of Operating History | Long-Term Tenant | Low Rent
- Corporate Guarantee | Citizens Financial Group Inc. (NYSE: CFG) | Citizens Bank (NYSE: CFG) is one of the region's largest financial institutions
- Absolute Triple-Net (NNN) Lease | Zero (0) Landlord Responsibilities | Passive Investment | The property is subject to an absolute triple-net lease
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Citizens Bank located at 2233 East Pershing St., Salem, OH 44460. The site consists of roughly 2,900 rentable square feet of building space on an estimated 0.61-acre parcel of land. This Citizens Bank is subject to a 15-Year Triple Net (NNN) lease, which commenced 6/29/2006. The current annual rent is $49,692 and has scheduled increases of 2.00% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
2,900 SF
Building Class
B
Year Built
1973
Price
$734,815
Price Per SF
$253.38
Cap Rate
6.76%
NOI
$49,692
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.61 AC
Zoning
M-1
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5100108000 | Improvements Assessment | $153,970 |
| Land Assessment | $56,040 | Total Assessment | $210,010 |
PROPERTY TAXES
Parcel Number
5100108000
Land Assessment
$56,040
Improvements Assessment
$153,970
Total Assessment
$210,010
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Citizens Bank | 2233 E Pershing St
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