Absolute NNN Bank with
165 South Broad Street Grove City, PA 16127
165 South Broad Street, Grove City, PA, 16127
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For Sale
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Two separately leased Citizens Bank facilities provide absolute NNN cash flow with zero landlord responsibility for major expenses.
Property Size4,567 SF
Price / SF$229.91
Days on Market53
Property Features for 165 South Broad Street
General Information
- Standard status
- Active
- Size
- 4,567 SF
- Property subtype
- Retail, Office, Special Purpose
Building Details
- Year Built
- 1912
Listing agency
Bang Realty
(888) 737-2264
Listed by
Brian Brockman · License #701472
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:51PM Checked: Jul 22 at 5:52PM
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 Bang Realty
Investment Insights
Based on property information with market context.
This absolute NNN offering is leased to Citizens Bank, N.A., rated A- / A3 / BBB+ by S&P / Moody’s / Fitch. The structure provides zero landlord responsibility for taxes, insurance, roof, structure, HVAC, and parking, with the tenant handling those obligations. The package includes two separately leased components: a banking location at 165 South Broad Street and a drive-through/ATM facility at 141 South Center. The property is described as having built-in rent increases, including a 5% increase at the 2028 option, with NOI stated to move to $82,688. Banking has been in place since 1968 in the 1912 Grove City National Bank building.
The asset is positioned on a downtown hard corner. The surrounding economy is described as supported by Grove City College and UPMC Horizon, with the I-79 / Pittsburgh corridor cited as part of the trade area.
For buyers seeking an absolute NNN profile, this two-lease configuration offers a straightforward investment structure with separately leased bank and drive-through/ATM income streams under a single tenant relationship. The long-established banking presence in a historic downtown building is intended to support tenant continuity, while the stated 2028 option provides an identified timing-based rent step.
The asset is positioned on a downtown hard corner. The surrounding economy is described as supported by Grove City College and UPMC Horizon, with the I-79 / Pittsburgh corridor cited as part of the trade area.
For buyers seeking an absolute NNN profile, this two-lease configuration offers a straightforward investment structure with separately leased bank and drive-through/ATM income streams under a single tenant relationship. The long-established banking presence in a historic downtown building is intended to support tenant continuity, while the stated 2028 option provides an identified timing-based rent step.
Key Highlights
- 1912 Grove City National Bank building with long‑term banking use dating back to 1968
- Two separately leased Citizens Bank facilities: 165 S Broad (bank) and 141 S Center (drive‑thru/ATM)
- Absolute NNN structure with zero landlord responsibility for taxes, insurance, roof, structure, HVAC, and parking
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.2k | $18.00 |
| − Vacancy | −$8.4k | −$1.84 |
| EGI | $73.8k | $16.16 |
| − OpEx | −$18.4k | −$4.04 |
| NOI | $55.3k | $12.12 |
4,567 SF · lease $18.00/SF/yr · vacancy 10.24% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$790.6K
$691.8K – $922.4K
NOI $55,341 @ 7.0% cap · market cap 5.27%
Second Best
Retail
$769.8K
$673.6K – $898.1K
NOI $53,885 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,659 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Two separately leased Citizens Bank facilities provide absolute NNN cash flow with zero landlord responsibility for major expenses.
Where is this nnn property located?
The property is located at 165 South Broad Street Grove City, PA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1912 Grove City National Bank building with long‑term banking use dating back to 1968; Two separately leased Citizens Bank facilities: 165 S Broad (bank) and 141 S Center (drive‑thru/ATM); Absolute NNN structure with zero landlord responsibility for taxes, insurance, roof, structure, HVAC, and parking
