Citizens Bank | 4430 Buffalo Rd
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Citizens Bank 4430 Buffalo Rd
2,100 SF Retail Building Erie, PA 16510 $2,192,000 ($1,044/SF) 6.25% Cap Rate
Investment Highlights
- The tenant recently signed a 10 year, absolute NNN lease with no landlord responsibilities providing passive ownership.
Executive Summary
Citizens Bank is rated A- (S&P), providing an investor with superior financial stability.
Citizens was originally located in the neighboring Giant Eagle shopping center for the last 12 years. Due to the growing customer deposits every year, they recently relocated to the subject property showing their further commitment to their customer base.
The property was recently renovated with the landlord completing all exterior work and tenant making a significant investment to demolish and complete all interior work. The property has a new 15 year roof warranty.
The trade area is anchored by Giant Eagle (#1 Grocery Chain in Pennsylvania), with other national retailer synergy including Panera, Chipotle, Starbucks, Taco Bell, McDonald’s, Planet Fitness, PNC Bank and others
Citizens was originally located in the neighboring Giant Eagle shopping center for the last 12 years. Due to the growing customer deposits every year, they recently relocated to the subject property showing their further commitment to their customer base.
The property was recently renovated with the landlord completing all exterior work and tenant making a significant investment to demolish and complete all interior work. The property has a new 15 year roof warranty.
The trade area is anchored by Giant Eagle (#1 Grocery Chain in Pennsylvania), with other national retailer synergy including Panera, Chipotle, Starbucks, Taco Bell, McDonald’s, Planet Fitness, PNC Bank and others
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
2,100 SF
Building Class
C
Year Built/Renovated
1982/2024
Price
$2,192,000
Price Per SF
$1,044
Cap Rate
6.25%
NOI
$137,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
0.77 AC
Zoning
22I1
Parking
7 Spaces (3.33 Spaces per 1,000 SF Leased)
Frontage
133 FT on Buffalo Rd
Amenities
- Bus Line
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 27-013-105.0-002.02 | Improvements Assessment | $191,300 |
| Land Assessment | $135,000 | Total Assessment | $326,300 |
PROPERTY TAXES
Parcel Number
27-013-105.0-002.02
Land Assessment
$135,000
Improvements Assessment
$191,300
Total Assessment
$326,300
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Graham Gold -
Patrick Tupa -
Jordan Shtulman -
Stream Capital Partners
1 of 6
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Citizens Bank | 4430 Buffalo Rd
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