12012 Frankstown RdPenn Hills, PA 15235

  • Retail properties
  • 3,953 SF
For Sale
$4,100,000 View listing

Property Details for 12012 Frankstown Rd

Year built
2021
Lot size
1.82 AC
Property size (Sq ft)
3,953 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ground lease on a brand-new, 3,953 square-foot Bank of America branch in Penn Hills, Pennsylvania. Built in 2021, this Class A property boasts a 15-year absolute NNN lease with a corporate guarantee from Bank of America, providing significant financial stability. The lease commenced March 21, 2021, and features a substantial remaining term of approximately 11.4 years, extending to March 31, 2036. Attractive 12.5% rent increases are built into the lease every five years, ensuring consistent growth in rental income. The property sits on a sizable 1.82-acre lot and includes a two-lane drive-thru and 24/7 ATM access. The current net operating income (NOI) is $185,000, yielding a 4.51% cap rate, and the asking price is $4,100,000 ($1,037.19 per square foot). The property benefits from its strategic location on Frankstown Road (PA Route 380), a major thoroughfare, serving a densely populated area with high average household income. The lease includes two five-year renewal options, further enhancing the long-term value of this investment. This is a rare opportunity to acquire a high-quality, net-leased property anchored by a financially strong, investment-grade tenant in a thriving market. The property's location near major universities contributes to a robust and growing local economy.

12012 Frankstown Rd, Penn Hills, Pennsylvania

Location Insight

City
Penn Hills
County
Allegheny
State
Pennsylvania
Latitude
40.4702
Longitude
-79.8216

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