Stan Johnson Company Arranges Sale of Single-Tenant Bank Branch in Cincinnati, Ohio Leased to KeyBank
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 5,463-square-foot bank branch located at 3621 West Fork Road in Cincinnati, Ohio. The property is occupied by KeyBank, which operates on an absolute triple net lease. Patrick Metz of Stan Johnson Company represented the seller, a locally based individual investor. The 1031 exchange buyer, a private investor from California, acquired the asset for approximately $1.4 million, reflecting a 6.36 percent cap rate.
“This is one of two KeyBank locations that I’m pleased to be selling for the owner,” said Metz, Associate in Stan Johnson Company’s Cincinnati, Ohio office. “Given the price point, the location, historic performance and KeyBank’s long-term commitment to the site, we were able to generate a competitive environment around the asset to achieve top dollar for the owner.”
The property is situated on 0.5 acres just north of Interstate 74 and is less than ten miles from downtown Cincinnati. KeyBank has operated from this location for more than 40 years, and in May 2021, began renovations to a portion of the facility that will serve as a company training center.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.