Bank of America

Bank of America

Colonial Heights, VA

Colonial Heights, VA

Bank of America

Marcus & Millichap is pleased to present the opportunity to acquire a ground lease Bank of America in Colonial Heights, VA. The property consists of a 3,221-square-foot, freestanding building that sits on approximately 1.01 acres of land. There are 4.9 years remaining on the lease with CPI rental increases every six years. Brian Hosey Broker of Record 7200 Wisconsin Ave., Suite 1101 Bethesda, MD 20814 (202) 536-3700 Lic #: 0225247494

Price $1,777,000
Cap Rate 6.25%
Building Size 3,221 sqft
Lot Size 1.01 acres
Year Built 1975
Offering Memorandum

Luke Sullivan

Associate
(972) 755-5198
Luke.Sullivan@marcusmillichap.com
License: TX 790739

Ryan Wolf

Managing Director
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172

 

  • Ground Lease with 4.9 Years Remaining - 50-Year Operating History
  • High-Performing Branch With $217M+ in Deposits
  • Below Market Rent Compared to Other Bank of America Branches
  • Signalized Hard Corner Location on Temple Avenue and U.S. Route 301 29,237 VPD
  • More Than 92,161 Residents Within a Five-Mile Radius
  • Strategic Location in Virginia’s Tri-Cities Region

Luke Sullivan

Associate
(972) 755-5198
Luke.Sullivan@marcusmillichap.com
License: TX 790739

Ryan Wolf

Managing Director
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900
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