Bank
Bank of America
1611 S Nevada Ave, Colorado Springs, CO 80905
Listing Price: $4,100,000
Cap Rate
5.00%
Tenant Name
Bank of America
Years Remaining On Lease
14.5
Guarantor
Corporate Guarantee
Rentable SF
4,168
Lease Type
NNN Ground Lease
Rent Per Square Feet
$49.18
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a Bank of America in Colorado Springs, CO.
Bank of America
Investment Highlights
- New 15-Year Absolute Triple-Net (NNN) Ground Lease with 8 x 5-Year Options and 10% rental increases every 5 years. The lease commenced in December of 2023 and there are zero landlord responsibilities
- Investment Grade (A- S&P) Guaranty from Bank of America – 6,200 Locations in 38 States, $206 Billion+/- Market Capitalization, 6th Largest Bank in the World by Assets ($3.05 Billion).
- Ideal Highway Access at I-25 & S Nevada Ave which sees a combined 177,000+ VPD, making it one of the busiest intersections in Colorado Springs.
- This stretch of S Nevada Ave is home to myriad national tenants including: Chick Fil-A, Natural Grocers, Sprouts, Home Depot, Dunkin', McDonald's, Panera Bread, Safeway, Dollar Tree, Maverik Gas Station, Five Guys, Smashburger and many others.
- Located along the primary route to the Broadmoor, Colorado's premier resort, hotel, and golf club. The Broadmoor features a two world-class golf course, 20 restaurants, 20 retail outlets, and various programming for all ages. The route also provides access to millions of acres of Colorado's Rocky Mountains.
Exclusively Listed By
Listing Price: $4,100,000
Cap Rate
5.00%
Tenant Name
Bank of America
Years Remaining On Lease
14.5
Guarantor
Corporate Guarantee
Rentable SF
4,168
Lease Type
NNN Ground Lease
Rent Per Square Feet
$49.18
Investment Highlights
- New 15-Year Absolute Triple-Net (NNN) Ground Lease with 8 x 5-Year Options and 10% rental increases every 5 years. The lease commenced in December of 2023 and there are zero landlord responsibilities
- Investment Grade (A- S&P) Guaranty from Bank of America – 6,200 Locations in 38 States, $206 Billion+/- Market Capitalization, 6th Largest Bank in the World by Assets ($3.05 Billion).
- Ideal Highway Access at I-25 & S Nevada Ave which sees a combined 177,000+ VPD, making it one of the busiest intersections in Colorado Springs.
- This stretch of S Nevada Ave is home to myriad national tenants including: Chick Fil-A, Natural Grocers, Sprouts, Home Depot, Dunkin', McDonald's, Panera Bread, Safeway, Dollar Tree, Maverik Gas Station, Five Guys, Smashburger and many others.
- Located along the primary route to the Broadmoor, Colorado's premier resort, hotel, and golf club. The Broadmoor features a two world-class golf course, 20 restaurants, 20 retail outlets, and various programming for all ages. The route also provides access to millions of acres of Colorado's Rocky Mountains.
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale a Bank of America in Colorado Springs, CO.
Exclusively Listed By
