Leased Bank NNN
For Sale
Contact for pricing
Pending
65 West Main Street, Leola, PA 17540
Fee simple bank property offered with a 15-year absolute NNN lease and remaining primary term.
Property Size3,109 SF
Days on Market130
Property Features for 65 West Main Street
General Information
Standard status
Pending
Size
3,109 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Year Built
1960
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 26 at 7:25AM
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.
This fee simple bank property is offered for sale, operating under an absolute NNN lease with Fulton Bank. The lease is structured as a 15-year term with approximately 13.0 years of primary lease term remaining. The lease includes 2.25% annual rent escalations, along with three renewal options—each with five-year terms—and the structure notes zero landlord responsibilities.
The property is located at 65 West Main Street in Leola, Pennsylvania.
The current offering is presented as an absolute NNN investment with a single-tenant financial structure and specified lease terms, including primary term remaining, annual escalations, and renewal options.
The property is located at 65 West Main Street in Leola, Pennsylvania.
The current offering is presented as an absolute NNN investment with a single-tenant financial structure and specified lease terms, including primary term remaining, annual escalations, and renewal options.
Key Highlights
- Fee simple bank property at 65 W Main Street, Leola, Pennsylvania
- 15‑year absolute NNN lease in place with 13.0 years of primary term remaining
- 3. five‑year renewal options included
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
$56,711
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
5.74%
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%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 3,109 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
$81.0K $26.04/SF
− Vacancy
−$5.3K −$1.72/SF
EGI
$75.6K $24.32/SF
− OpEx
−$18.9K −$6.08/SF
NOI
$56.7K $18.24/SF
Area
Lancaster County, PA
Vacancy
6.60%
Lease Rate
$26.04 /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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Specialty Retail
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 5.74%
Second Best
Retail
$522.7K
$457.4K – $609.8K
NOI $36,588 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.04M
$911.6K – $1.22M
NOI $72,929 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
4,260 visits/mo
0.2 miles
Demographics for 17540, PA
10,821
Population
4,068
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
20.9 sq mi
ZIP Area
518
Density / Sq Mi
$83,229
Median Household Income
$46,756
Median Earnings
$1,329
Median Rent
$319,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Fee simple bank property offered with a 15-year absolute NNN lease and remaining primary term.
Where is this bank located?
The property is located at 65 West Main Street Leola, PA.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Fee simple bank property at 65 W Main Street, Leola, Pennsylvania; 15‑year absolute NNN lease in place with 13.0 years of primary term remaining; 3. five‑year renewal options included
