Bank of America
4,387 SF | Retail Building | Clarksville, MD 21029 | $5,680,000 ($1,295/SF) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,680,000
- Property Type
-
Retail
- Square Feet
- 4,387 SF
- Price / Square Foot
- $1,295
Listing Contacts
Rich Sillery
Verified Profile
Danny Brooker
Verified Profile
- Property Info
Property Overview
Offered for sale is a single tenant absolute-net ground leased Bank of America with drive-thru located in one of the nation’s most desirable markets, Howard County, Maryland. Three-years remain on the lease backed by investment grade credit tenant Bank of America (S&P rated A+). The offering represents a rare opportunity to acquire exceptional real estate absolute net-leased to a strong corporate tenant in one of the most coveted/high barriers-to-entry markets in the country.
Property Details
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Bank
- Lot Size (sq. ft)
- 47,045 SF
Highlights
- Three-years of base term remain on an absolute net ground lease with four, five-year option periods thereafter
- The lease is corporately guaranteed by investment grade credit tenant Bank of America, Standard & Poor’s rated A+ with a stable outlook
- Consistent rising deposits: $236M+ (2022), $212M+ (2021), $178M+ (2020), $156M+ (2019)
- Howard County is the seventh wealthiest county in the U.S. – median household income in excess of $129,000
- Ideally positioned at the signalized intersection of Ten Oaks Road and MD Route 108 (16K VPD); just off of MD Route 32 (55K VPD)
- 26-miles north of Washington, DC; 23-miles south of Baltimore, MD
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