Building Details

Year Built 1980

Tenancy Single

Listing Agency: JLL Chicago | Americas Headquarters

Listed By: Alex Sharrin · License #IL 475.170243

Source: Crexi

Added: Apr 29 Changed: Aug 8 Last Checked: Jul 25 at 12:22PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL Chicago | Americas Headquarters

Investment Insights

Based on property information with market context.

JLL is offering the fee simple acquisition of a Fulton Bank property located at 1374 Heidelberg Avenue in Schaefferstown, Pennsylvania. The asset is operated under a 15-year absolute NNN lease with approximately 13.0 years of primary lease term remaining. The lease includes 2.25% annual rent escalations and provides for three, five-year renewal options.

The lease is structured as absolute NNN, with zero landlord responsibilities. The information provided also includes that PA Broker of Record is Ryan Ade (PA License #: RS291698).

Key Highlights

• Fee simple Fulton Bank at 1374 Heidelberg Ave, Schaefferstown, PA
• 15‑year absolute NNN lease in place with 13.0 years of primary term remaining
• 2.25% annual rent escalations

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$40,023

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.41%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$800,460 $800.5K

Cap Rate 7%

$571,757 $571.8K

Cap Rate 9%

$444,700 $444.7K

Market Conditions

NOI Build-Up for 3,527 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$56.3K $15.96/SF

− Vacancy

−$2.9K −$0.83/SF

EGI

$53.4K $15.13/SF

− OpEx

−$13.3K −$3.78/SF

NOI

$40.0K $11.35/SF

Area

Lebanon County, PA

Vacancy

5.20%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$800,460

Cap Rate 7%

$571,757

Cap Rate 9%

$444,700

Alternative Uses

Best Use

Specialty Retail

$571.8K

$500.3K – $667.1K (±1% cap)

NOI $40,023 @ 7.0% cap · market cap 4.41%

Second Best

Retail

$473.5K

$414.3K – $552.4K (±1% cap)

NOI $33,145 @ 7.0% cap · market cap 3.65%

Theoretical Best

Office A

$827.9K

$724.4K – $965.8K (±1% cap)

NOI $57,950 @ 7.0% cap · market cap 6.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Fulton Bank Bank

Suggested Use

Top Pick Building Supply Electrical Service Plumbing Service Auto Parts Store Garden Center Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

108

Businesses Nearby

Explore this area Business Placement

Demographics for 17088, PA

668

Population

278

Households

2.4

Avg Household Size

36

Median Age

8%

College-Educated

85%

High-School Grad

1.7 sq mi

ZIP Area

393

Density / Sq Mi

$110,260

Median Household Income

$42,135

Median Earnings

$929

Median Rent

$209,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this banks located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bank - Fee simple Fulton Bank sale features a 15-year absolute NNN lease with primary term remaining.

Where is this bank located?

The property is located at 1374 Heidelberg Avenue Schaefferstown, PA.

What is the asking price?

The asking price for this property is $907,000.

What are key features of this property?

This property features: Fee simple Fulton Bank at 1374 Heidelberg Ave, Schaefferstown, PA; 15‑year absolute NNN lease in place with 13.0 years of primary term remaining; 2.25% annual rent escalations