Listed by Marcus & Millichap - San Diego, Colliers - Little Rock, Arkansas
$2,530,000
BANK OF AMERICA | ABSOLUTE NET | 49+ YR HISTORICAL OCCUPANCY
Details
APN 43L-112.00-004.00
Property Type Retail
Sub Type Bank, Storefront
Square Footage 6,184
Cap Rate 6.36%
NOI $160,784
Tenancy Single
Brand/Tenant Bank of America
Lease Type Absolute NNN
Lease Expiration 03/31/2032
Remaining Term 5.7
Rent Bumps Yes
Class A
Year Built 1977
Stories 1
Acreage 0.980
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Hard Corner Location | Densely Populated & Affluent Area: $106k+ Avg. HHI
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
https://themansourgroup.com/properties/310724/bank-of-america
Investment highlights
- Corporate Backed Absolute Net Lease (Zero Landlord Responsibilities) Featuring Above Average 15% Rental Increases Every 5 Years throughout the Options. $200M+ Annually in Branch Deposits. 49+ Year Historical Occupancy.
- High-Traffic Corridor - the Property Sits Along N Rodney Parham Rd, which Carries an Estimated of more than 42k Vehicles per day Just Down the Street, among the Busier Corridors In West Little Rock.
- Immediate Access to/from Interstate-430 - the Site is Minutes from I-430, Providing Direct Regional Connectivity To I-630, I-40, and I-30 for Both Customers and Employees.
- Established Retail Submarket - the Property Sits within Close Proximity To the Broader Pleasant Valley and West Village Retail District, One of Little Rock's most Concentrated Dining and Shopping Areas.
- Densely Populated and Affluent Area: Features An Average Household Income Of more than $106k within a 3-Mile Radius and over 128k People Residing within a 5-Mile Radius.
- The Village At Pleasant Valley Nearby - an approximately 89,000 SF Retail Center Reporting over 10,000 Weekly Visitors Sits Just Minutes away at I-430 and Rodney Parham, Reinforcing Steady Trade-Area Traffic.
- Daytime Employment Density Close by - the Surrounding Office, Retail, and Financial Corridor, Located Just Minutes from the Property, Generates a Substantial Daytime Working Population.
- Bank of America is Currently Ranked #7 on the Fortune Global 2000 List. Features an Investment Grade Credit Rating from S&P of “A+” and Moody’s of “Aa2”
- Regional Retail Draw Minutes away - the Surrounding District, just Minutes from the Subject Property, is Frequently Described as one Of Little Rock's Premier Retail and Dining Destinations.
Listing Contacts
Listed by Marcus & Millichap - San Diego, Colliers - Little Rock, Arkansas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,784.00
$13,398.67/mo
Valuation Metrics
0
DSCR
6.36%
Cap Rate
6.36%
ROI
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