12012 Frankstown Rd Penn Hills, PA 15235

Property Details for 12012 Frankstown Rd

Year built

2021

Lot size

1.82 lot acres

Property size

3,953 SF

Property type

Banks

APN

0449-C-00012-000-00

Description

This exceptional investment opportunity presents a fee-simple ground lease on a brand-new, 3,953 square-foot Bank of America branch in Penn Hills, Pennsylvania. Built in 2021, this Class A property boasts a 15-year absolute NNN lease with a corporate guarantee from Bank of America, providing significant financial stability. The lease commenced March 21, 2021, and features a substantial remaining term of approximately 11.4 years, extending to March 31, 2036. Attractive 12.5% rent increases are built into the lease every five years, ensuring consistent growth in rental income. The property sits on a sizable 1.82-acre lot and includes a two-lane drive-thru and 24/7 ATM access. The current net operating income (NOI) is $185,000, yielding a 4.51% cap rate, and the asking price is $4,100,000 ($1,037.19 per square foot). The property benefits from its strategic location on Frankstown Road (PA Route 380), a major thoroughfare, serving a densely populated area with high average household income. The lease includes two five-year renewal options, further enhancing the long-term value of this investment. This is a rare opportunity to acquire a high-quality, net-leased property anchored by a financially strong, investment-grade tenant in a thriving market. The property's location near major universities contributes to a robust and growing local economy.