Bank of America

Bank of America

Houston, TX

Houston, TX

Bank of America

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Bank of America in Houston, TX. The property consists of a 4,888-square-foot, freestanding building that sits on approximately 0.92 acres of land. There are 3.8 years remaining on the lease with 10% rental increases every 5 years in options.

Price $3,585,000
Cap Rate 6.50%
Building Size 4,888 sqft
Lot Size 0.92 acres
Year Built 2003
Offering Memorandum

Luke Sullivan

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

Ryan Wolf

First Vice President Investments
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172
Duke.Dennis@marcusmillichap.com

 

  • Absolute Net Lease with 3.8 Years Remaining
  • Outparcel To Krogers-Anchored Shopping Center
  • Signalized Hard Corner of North Eldridge Parkway and West Little York Road (Combined Traffic Counts Exceed 66,537 VPD)
  • Dense Residential Population – More Than 261,406 Residents Within a 5-Mile Radius
  • Limited Market Saturation – Only Bank of America Branch Within a 5-Mile Radius and only 5 Total branches in the Zip Code
  • 22-Year Operating History

Luke Sullivan

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

Ryan Wolf

First Vice President Investments
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633

$6,982,000

5.40% Cap

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