U.S. Bank
U.S. Bank Branch - $805,000 / 7.45% CAP
Marketing description
This is a U.S. Bank branch is equipped with a 24 hour ATM machine located in downtown Bedford, Ohio—a core retail corridor just 28 miles southeast of Cleveland. The property spans 6,825 SF and includes valuable basement space used by U.S. Bank for storage and an employee break room. Situated within a high-visibility district, this asset benefits from its established location within Cuyahoga County and proximity to major highways including I-480 and I-271.
U.S. Bank, which operates over 2,000 branches and holds an S&P AA- investment-grade rating, has shown a strong commitment to this location with an early 5 year extension of an absolute NNN lease through November 2031, that calls for 2.0% annual rent escalations during renewal options. The structure of this absolute NNN lease transfers all operating responsibility to the tenant, providing investors with predictable cash flow and no management obligations. The tenant recently negotiated a 5 year lease extension and is paying below market rent of just $.73/sq. ft. NNN
The property sits in a dense trade area with over 59,000 residents within a 3-mile radius and is adjacent to essential retailers, local services, and community amenities. Its downtown positioning and enduring tenancy make this an attractive long-term investment opportunity anchored by a creditworthy tenant.
Investment highlights
-100% leased to U.S. Bank (NYSE:USB) who occupies the entire building
-Recent 5 year lease extension with 2.0% annual rent increases during the option period
-Tenant only paying monthly rent of $.73/sq. ft. NNN
-Priced below $118/sq. ft. on the net rentable square footage
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
