1710 Union Blvd - Bank FOR SALE


Allentown, PA 18109- East Allentown
$4,070,000 USD
202-286-1542
1710 Union Blvd, Allentown, PA for Sale
$4,070,000 USD
Bank - FOR SALE
1/49
null | 7% Cap Rate

1710 Union Blvd
Allentown, PA 18109
East Allentown


HIGHLIGHTS

  • New 15-Year Lease | 2% Annual Rent Increases | Corporate Guaranty
  • $120 Million in Branch Deposits | 35% Deposit Growth Since 2020 |Strong $5.64 Billion Deposit Base in Allentown, PA
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Lehigh University | Along Arterial Thoroughfare
  • Strong Demographics in 5-Mile Trade Area | 3rd Largest City in PA

OVERVIEW

• New 15-year lease commenced in Dec-2024 • 2% annual increases provide a hedge against inflation • Corporate guaranty by Quaint Oak Bancorp, Inc. (OTCQB: QNTO) • Founded in 1926, Quaint Oak Bank is a an FDIC member which operates 3 branches across Pennsylvania with over $685 million in assets, a net income of $2.8 Million, and Net Equity of $52.6 Million • Experienced management team - the 4 executive officers at Quaint Oak Bank have an average tenure of 19.8 years and a total combined tenure of 79 years at the firm

FOR SALE DETAILS

PRICE

$4,070,000 USD

PRICE/SF

$306 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quaint Oak Bank | New 15yr Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

CROSS STREETS

N Quebec St

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

B-1/Rx

APN/PARCEL ID

641728299879-1

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.