For Sale
$2,192,000

4430 Buffalo RdErie, PA 16510

High-yield, NNN-leased bank property

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 2,100 square foot, single-tenant retail property currently occupied by Citizens Bank, a financially stable institution with an A- S&P rating. Located at 4430 Buffalo Rd, Erie, PA 16510, this property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $137,000. The absolute NNN lease, with a corporate guarantee, ensures minimal landlord responsibilities and provides passive ownership. The lease, signed in 2024, has a remaining term of 9.3 years, with two 5-year renewal options and 10% rent bumps every five years. The property, built in 1982 and extensively renovated in 2024, sits on a 0.77-acre lot in a thriving submarket anchored by Giant Eagle and other national retailers including Panera, Chipotle, Starbucks, Taco Bell, McDonald's, Planet Fitness, and PNC Bank. The recent relocation of Citizens Bank from a nearby location highlights their commitment to the area and the property's prime location. The building features a new 15-year roof warranty. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term potential. The asking price is $2,192,000.

Highlights

  • 10-Year Absolute NNN Lease: Passive ownership with no landlord responsibilities.
  • Relocation & Growth: Tenant relocated from nearby Giant Eagle center due to increased customer deposits, demonstrating strong commitment.
  • Recent Renovation: Complete exterior renovation by landlord and significant interior improvements by tenant; 15-year roof warranty.
  • Strong Grocery-Anchored Location: Located in a submarket anchored by Giant Eagle (Pennsylvania's #1 grocer) and surrounded by national retailers.

Property Details for 4430 Buffalo Rd

Property type
Retail properties, Retail space
Square Feet
2,100 SF
Year Built/Renovated
1082/2024
Lot Size (sq. ft)
33,541 SF

Location Insight

City
Erie
County
Erie
State
Pennsylvania
Latitude
42.1470108
Longitude
-80.0025541
4430 Buffalo Rd, Erie, Pennsylvania

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4430 Buffalo Rd
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