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Bank Of America | Absolute-Net Lease in Statesville, NC

1616 E Broad St, Statesville, NC 28625, USA
$1,360,033

Description

Marcus & Millichap is pleased to offer for sale this absolute net leased, free standing, corporate backed Bank of America bank branch, located at 1616 East Broad Street in Statesville, NC, just a short thirty minute drive North of downtown Charlotte and immediately off US Interstate 77 and the East Broad Street Exit.

The subject property consists of a 3,695 square foot bank branch with three drive up tellers lanes, two drive up ATM lanes and ample parking on a large 1.5 acres parcel. Strategically located at the signalized intersection of East Broad Street and East Side Drive with combined traffic counts in excess of 34,000, this branch benefits from over 43,000 full time residence with a house hold income exceeding $60,000, annually. Deposits at this branch as of January 10th, 2018 were in excess of $78 million, annually.

There are just over five years remaining on the original twenty year lease with six, five-year Option Periods. Increases for each of the Option Periods are to be determined at Fair Market Value.

The subject property is an out parcel to Broad Street Station, anchored by Food Lion and K Mart and and situated directly across the street from Signal Hill Shopping Center, anchored by Belk’s, GNC and Bath & Body Works. There are numerous National and Regional retailers in the immediate area including Planet Fitness, Starbucks, Burger King, Dollar General, First Citizens Bank, Rite Aid, Wells Fargo Bank, Bi Low, Game Stop, Bojangles, Taco Bell and McDonald’s to name a few.

Bank of America N.A. (S&P: A+), a subsidiary of Bank of America Corporation (NYSE: BAC), is one of the worlds leading financial institutions. Headquartered in Charlotte, NC, the company boasts $2.19 trillion in assets, approximately 4,700 retail financial centers and more than 16,000 ATMs.

  • Absolute Net Lease “No Landlord Responsibility”
  • Corporate Guaranteed – S&P “A+” Rated
  • Healthy Deposits Exceeding $78 Million, Annually
  • Over 43,000 Residents in the Market Area With an Average HHI Exceeding $60,000
  • Out Parcel to Broad Street Station Anchored by Food Lion & K Mart
  • Immediately Off Interstate 77 and The East Broad Street Exit
  • Short 30 Minute Drive North of Downtown Charlotte

Property Documents

  • City: Statesville
  • State/county: North Carolina
  • Zip/Postal Code: 28625
  • Country: United States

Detail

  • Price: $1,360,033

Additional details

  • CAP Rate: 6.00%
  • NOI: $81,602

Features