Listed by Colliers - Denver, Colorado
$1,765,000
Bank of America
Details
Property Type Retail
Sub Type Bank
Square Footage 3,926
Cap Rate 4.25%
NOI $75,000
Occupancy 100%
Tenancy Single
Brand/Tenant Bank of America
Lease Term 15
Lease Expiration 11/29/2037
Remaining Term 12
Rent Bumps Yes
Lease Options Three (3), 5-Year
Price per SqFt $450
Year Built 2023
Acreage 0.700
Investment Type Net Lease
Lease Commencement 11/25/2022
Ground Lease Yes
Newly Constructed Building | 12-Year Corporate Ground Lease | Anchored by King Soopers
Marketing description
Colliers, as exclusive broker, is pleased to present the opportunity to acquire a single-tenant Bank of America financial center in Greeley, Colorado. The Property features an attractive low-rent ground lease with 12 years remaining, 10% rent escalations every 5 years, and three 5-year renewal options, offering passive income with zero landlord responsibilities. Bank of America (NYSE: BAC) is a Fortune 100 company, ranked #2 among U.S. banks by assets, with a market capitalization of approximately $270 billion, an A- credit rating from S&P, and 213,000 employees worldwide. Bank of America serves 70 million consumer and small business clients through 3,600 financial centers nationwide, underscoring its scale and stability.
The Property is strategically located near W 10th Street and 71st Avenue in Greeley’s premier retail corridor. The site benefits from high traffic, excellent visibility, and strong demographics, anchored by the #2 most visited King Soopers in the U.S. Within a 3-mile radius, the area is experiencing rapid growth, driven by major mixed-use developments and 15,000+ new residences in the pipeline. This offering provides investors with a long-term, investment-grade tenant in a dynamic Colorado market, combining credit strength, zero management requirements, and strong fundamentals.
Investment highlights
- Prime Retail Anchor: Anchored by King Soopers Marketplace, the #2 ranked King Soopers in the nation, attracting 1.9 million annual visits (Placer.ai).
- Local schools that combine to serve 4,800 students, are located within one mile of the property.
- The UCHealth ER, PAM Health Rehabilitation Hospital, and Banner North Colorado Medical Center are all located within minutes of the property, contributing to steady daytime traffic and reinforcing the area’s role as a regional healthcare hub.
- University of Northern Colorado (10,000+ students) and Aims Community College (7,000+ students) are located within five miles of the property, supporting a highly educated customer base.
- Population: 48,000 residents within a 3-mile radius, with growth projected at 12% over the next 5 years—outpacing Greeley City by 3.5%.
- Income: Average household income of $121,000 in a 3-mile radius, more than 30% above the City of Greeley’s average.
- Development Pipeline: Six major developments underway in a 3-mile radius, including around 15,000 residences and the 300-acre mixed-use “Greeley Westside Project.”
- 12-Year Primary Term with 10% rent increases every 5 years and three 5-year renewal options.
- The next 10% rent increase is fast approaching in December 2027.
- Below-Market Rent: Current rent is $75,000, 54% of the average comparable new-build banks with ground leases.
- Bank of America is an investment-grade tenant (S&P A-) with $1.98 trillion in deposits, 3,600 U.S. branches, and average deposits per branch exceeding $100 million— offering exceptional financial strength and stability.
- Greeley is ranked #8 in U.S. for quality of life (2022), with over 30 parks and 6 sports complexes.
- The Greeley MSA boasts a low retail vacancy rate (2.2%), supported by strong demand from a growing population and major nearby schools and colleges.
- Colorado is #11 for overall business climate (CNBC 2025) and #6 for economy (U.S. News & World Report 2025).
- Colorado offers a competitive flat corporate tax rate (4.4%) and the 10th lowest property tax rate in the U.S. (0.5%).
Listing Contacts
Listed by Colliers - Denver, Colorado
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$75,000.00
$6,250.00/mo
Valuation Metrics
0
DSCR
4.25%
Cap Rate
4.25%
ROI
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