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Virtual Drive-By

Citizens Bank Absolute NNN

165 South Broad Street · Grove City, PA 16127 · Banking / Financial

Asking price
$1,050,000
Cap rate
7.50%
NOI
$78,750

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Lease

Lease typeAbsolute NNN
Term remaining1.9 yrs
Expiration06/2028
Rent bumps5% Next Option
Options—
Ground leaseNo
Credit profileCredit Rated + Corporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF4,567
Price / SF$230
Year built1912
Lot size0.12 ac
TypeBank
Days on market55

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

AMC Real Estate is pleased to offer for sale this absolute NNN Citizens Bank & ATM in downtown Grove City, PA, priced at $1,050,000 (7.50% cap / $78,750 NOI). The offering includes two separately leased parcels — the landmark bank branch at 165 S Broad St and the drive-thru/ATM at 141 S Center St — both leased to Citizens Bank, N.A., the investment-grade operating subsidiary of Citizens Financial Group (NYSE: CFG), rated A- / A3 / BBB+ (S&P / Moody's / Fitch). The branch reports $86M+ in FDIC deposits and has operated as a banking site since 1968, anchoring a hard-corner location on Grove City's primary downtown corridor. With a true triple-net structure and zero landlord responsibilities, this is a passive, credit-backed asset with built-in rent growth and downtown real estate optionality.

Property overview

  • ​Investment-grade tenant — Citizens Bank, N.​A.​ rated A- / A3 / BBB+ (S&P / Moody's / Fitch); subsidiary of Citizens Financial Group (NYSE: CFG), ~$227B in assets
  • ​$86M+ in FDIC deposits at this branch — a dominant, sticky deposit base that signals long-term commitment, not closure risk
  • ​Absolute NNN — zero landlord responsibility (taxes, insurance, roof, structure, HVAC, parking all tenant)
  • ​Two income streams, one deal — separately leased bank (165 S Broad) + drive-thru/ATM (141 S Center)
  • ​Built-in rent bumps — 5% increase at the 2028 option (NOI grows to $82,688)
  • ​Banking site since 1968 in the landmark 1912 Grove City National Bank building — irreplaceable downtown hard corner
  • ​Strong trade-area fundamentals — college-town economy anchored by Grove City College, UPMC Horizon, and the I-79 / Pittsburgh corridor
  • ​Passive, low-management coupon ideal for 1031

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.