Listed by Atlantic Capital Partners
$2,049,000
Bank of America | Seneca, SC
Details
Property Type Retail
Sub Type Bank
Net Rentable (SqFt) 3,271
Cap Rate 6.1%
NOI $125,000
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank, Bank of America
Lease Term 10
Lease Expiration 05/31/2030
Remaining Term 4
Rent Bumps Yes
Lease Options 2 x 5-year options
Year Built 1993
Acreage 0.670
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/01/2020
Ground Lease Yes
6.1% CAP | CORP ABS NNN
Investment highlights
PROVEN LOCATION - $106M DEPOSIT BASE & LONG OPERATING HISTORY
- Bank of America (and predecessor institutions) has operated at this site since 1985, underscoring long-term commitment to the location and consistent performance within the trade area
- The branch maintains a deposit base of approximately $106 million
RECENT LEASE EXTENSION THROUGH 2030
- Tenant exercised its most recent five-year renewal option in 2019, extending the lease through May 31, 2030 — reinforcing long-term confidence in the location and underlying market fundamentals
LOW BASIS / HIGH COVERAGE RENT PROFILE
- Below-replacement cost pricing and modest rent levels relative to national bank branch economics support long-term tenant viability and renewal probability
INVESTMENT-GRADE CORPORATE CREDIT (S&P: A-)
- Lease guaranteed by Bank of America, one of the largest financial institutions globally with ~$3.3 trillion in assets, providing secure and stable income
STRATEGIC HARD-CORNER RETAIL POSITIONING
- Located along SC Highway 123 (31,700+ VPD), the dominant retail corridor connecting Seneca and Clemson, with direct access to surrounding retail, residential, and university-driven demand
GREENVILLE–ANDERSON MSA | HIGH-GROWTH SOUTHEAST REGION
- Part of one of the fastest-growing MSAs in the Southeast, supported by a diversified employment base, institutional demand drivers, and continued in-migration
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$125,000.00
$10,416.67/mo
Valuation Metrics
0
DSCR
6.1%
Cap Rate
6.1%
ROI
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