Listing Contacts
David Laiter
License: PA RS335869
Ken McEvoy
License: PA RS284266
Asking Price
$1,390,909
Address
12 Parkside Ave
Reading, PA
Property Details
Asking Price
$1,390,909
Property Type
Retail
Sub Type
Freestanding
Investment Type
Net Lease
Lease Type
Absolute NNN
Tenant Credit
Corporate Guarantee
Tenancy
Single
Remaining Term
5.8 years
Square Footage
5,468
Price/Sq Ft
$254.37
Cap Rate
5.50%
Occupancy
100%
NOI
$76,500
Year Built
1997
Permitted Zoning
HC
Lot Size (acres)
1.28
Ownership
Fee Simple
Property Description
Equity Retail Brokers is pleased to offer qualified investors the opportunity to acquire the sale of a Santander Bank branch in Shillington, PA with almost $102 Million in deposits in 2019 (Source: FDIC). Shillington is an immediate suburb of the City of Reading located in Berks County, PA. This asset sits on approximately 1.28 acres, and has been operating very successfully as branch since February, 1997. Originally an office for Sovereign Bank, the control of this branch was transferred to Santander Bank after their acquisition of Sovereign in 2011.
Property Highlights
  • 5.75 Years Remaining 
  • Two (2), Five (5) Year Options
  • 22+ year successful operating history
  • Absolute NNN Lease – NO Landlord Responsibilities
  • Located in Shillington, PA – an immediate suburb of Reading
  • Quality Credit tenant (S&P – A1 | Moody’s – A2)
  • 7th highest deposit count of all banks within a 5-mile radius (36 total branches)