3224 Solomons Island Rd - Bank FOR SALE


Edgewater, MD 21037
$3,380,133 USD
332-345-4222
3224 Solomons Island Rd, Edgewater, MD for Sale
$3,380,133 USD
Bank - FOR SALE
1/2
null | 6.75% Cap Rate

3224 Solomons Island Rd
Edgewater, MD 21037


HIGHLIGHTS

  • Long-Term, Original 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 6.0 Years Remaining
  • $163,766,000 in Deposits | 2nd Highest Deposits for any Bank in Zip Code
  • Bank of America Recently Extended Their First Option to Renew Early, Proving Commitment to the Location
  • Twelve Percent (12%) Rental Increases Occurring Every Five (5) Years
  • Three (2), Five (5)-Year Tenant Renewal Options Remaining

OVERVIEW

NNN Pro Group is pleased to present the exclusive listing for a Bank of America located at 3224 Solomons Island Rd, Edgewater MD. The site consists of roughly 4,553 rentable square feet of building space on estimated 1.32-acre parcel of land. This Bank of America is subject to a 20-year absolute triple-net (NNN) lease, which commenced December 8th, 2004. Bank of America recently extended their first renewal option early, moving the expiration date to December 7th, 2029. The current annual rent is $228,159 and is scheduled to increase by 12% in each of the remaining 2, 5-year renewal options.

FOR SALE DETAILS

PRICE

$3,380,133 USD

PRICE/SF

$742 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bank of America

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

-

APN/PARCEL ID

01-744-06864607

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.