Huntington Bank

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Huntington Bank

613 Beaver Valley Mall Monaca PA Beaver County

Sales Price: $2,053,333

Cap Rate: 6.00%

Contact Person(s): Daniel H. Kukes
Maxwell E. Lippitt
Kevin J. Baker
Jason M. Greenspan

Description:

GROUND LEASE WITH ZERO LANDLORD RESPONSIBILITIES 

  • The subject property operates as an absolute ground lease with zero landlord responsibilities.

NEW LEASE RENEWAL WITH RENT INCREASES

  • The tenant just signed a new 5-year lease renewal demonstrating their commitment to this location.
  • The lease has a scheduled 10% rent escalation every five years.

STRONG TENANT & BRANCH DEPOSITS

  • Huntington Bank is a Publicly Traded Company (NASDAQ: HBAN) with $4.35B in annual revenue and 800 locations.
  • As of June 2019, branch deposits were estimated at $71,556,000 (Source: FDIC)

Building Size: 1,978 SF

Lot Size: 0.53 acre

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 2,801 29,275 61,855
Avg. HH Income: $77,931 $76,392 $72,180

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.