Listed by Upland Real Estate Group Inc
$2,572,592
US Bank
Details
APN 742413057352
Property Type Retail
Sub Type Bank
Square Footage 2,970
Units 1
Cap Rate 5.25%
NOI $135,061
Tenancy Single
Brand/Tenant US Bank, US Bancorp
Lease Type NNN
Lease Term 34
Lease Expiration 01/31/2033
Remaining Term 6.5
Rent Bumps Yes
Lease Options Two 5-Year w/ 15% Rent Increases
Price per SqFt $866
Year Built 1998
Buildings 1
Acreage 1.460
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/01/1999
Ground Lease No
US Bank | Rochester, MN | 5.25% Cap
Marketing description
US Bank is located along East Circle Drive where traffic counts average 18,000 vehicles per day and near N Broadway Ave where traffic counts average 11,700 vehicles. 5-mile population of 111,107 and average household income of $151,583 within a 1-mile radius.
Investment highlights
- US Bank is on a NNN lease with 6 1/2 + years remaining and 3% annual increases.
- High deposits of $95 million at this location.
- US Bank has an S&P Rating of A, operates 2,000+ locations across 26 states, primarily in the Midwest and West with revenues of $27.5 Billion.
- US Bank is located in Rochester, Minnesota. Rochester is home to Mayo Clinic, a top-ranked hospital in the nation. The clinic cares for approximately 1.4 million patients from around the world each year.
- The Mayo Clinic St. Mary's Campus has 1,265 Beds with 64 operating rooms, while the Methodist Campus has 794 Beds with 51 operating rooms.
- With Mayo Clinic at its heart, Destination Medical Center, is a robust 20-year, $5.6 billion economic development initiative designed to position Minnesota as a global center for the highest quality medical care.
- US Bank is located along East Circle Drive where traffic counts average 18,000 vehicles per day and near North Broadway Avenue where traffic counts average 11,700 vehicles.
- 5-mile population of 111,884 and average household income of $176,910 within a 1-mile radius.
- Nearby tenants include Hy-Vee, O'Reilly Auto Parts, o2B kids, Tommy's Express Car Wash, Target, Hobby Lobby, Ashley Homestore, and more.
Listing Contacts
Listed by Upland Real Estate Group Inc
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$135,061.08
$11,255.09/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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