Citizens Bank - Philadelphia, PA | 6537 Castor Ave
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Citizens Bank - Philadelphia, PA 6537 Castor Ave
3,507 SF Retail Building Philadelphia, PA 19149 £1,763,210 (£503/SF) 6.50% Net Initial Yield
Investment Highlights
- Citizens Bank Has an A- Credit Rating From S&P
- Citizens Bank Has Been the Tenant Since 2007 and Recently Exercised a 5-Year Option, Showing a Commitment to the Site
- The Rent is in Line With Other National Retailers in the Area, Proving to Be Replaceable
- Deposits in Excess of $108MM, One (1) of Only Four (4) Bank Branches in Northeast Philadelphia With Deposits Over $100MM
- The Absolute NNN Lease is Attractive For a 1031 Exchange Buyer
- High-Density Walkable Location With a Growing Population of Seniors in the Immediate Area
Executive Summary
Sands Investment Group is Pleased to Present Exclusively For Sale a 3,507 SF Citizens Bank in a Prime Location in Philadelphia, PA. Citizens Bank is an A- Credit Rated Tenant and Their Absolute NNN Lease Was Recently Extended through June of 2030, With a 2.5% Rent Increase in Each Year. This Citizens Bank Branch Has Operated For Over 17 Years and Boasts an Impressive Deposit Base in Excess of $108 Million Dollars. It’s Location in a Highly-Dense Area of Philadelphia Features Rents in Line With Other Local Retailers, Providing For a Sound Investment.
In Cooperation With Sands Investment Group Philadelphia, LLC - Lic. #RB069072 BoR: Tom Gorman Lic. PA #RM424383
In Cooperation With Sands Investment Group Philadelphia, LLC - Lic. #RB069072 BoR: Tom Gorman Lic. PA #RM424383
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,507 SF
Building Class
C
Year Built
1972
Price
£1,763,210
Price Per SF
£503
Net Initial Yield
6.50%
NOI
£114,609
Tenancy
Single
Number of Floors
1
Building FAR
0.42
Land Acres
0.19 AC
Zoning
C7
Frontage
Amenities
- Banking
- Bus Route
- Corner Lot
- Pylon Sign
- Signage
- Signalised Intersection
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Citizen's Bank
- Administrative and Support Services
- 3,507 SF
- £31.86
- Jun 2030
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Citizen's Bank | Administrative and Support Services | 3,507 SF | £31.86 | Jun 2030 |
Walk Score ®
Very Walkable (88)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 882963005 | Improvements Assessment | £955,931 |
| Land Assessment | £238,983 | Total Assessment | £1,194,913 |
PROPERTY TAXES
Parcel Number
882963005
Land Assessment
£238,983
Improvements Assessment
£955,931
Total Assessment
£1,194,913
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Bart Tantillo -
Max Freedman -
Paul Messina -
Thomas Gorman -
Sands Investment Group
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Citizens Bank - Philadelphia, PA | 6537 Castor Ave
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