Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a Bank of America property located at 745 Lynnhaven Parkway in Virginia Beach, Virginia. This investment opportunity features a 3,217-square-foot, single-tenant retail building situated on a 0.56-acre parcel within the highly trafficked Lynnhaven Mall trade area. Constructed in 1982, the property operates under an Absolute NNN Ground Lease that is corporately guaranteed by Bank of America, N.A. The lease was recently extended and has approximately 6.7 years remaining, with the current term expiring on January 31, 2032. The asset generates an annual base rent of $181,429, reflecting a strong $56.40 per square foot rental rate. The lease includes a 10 percent rental increase during the third extension period, offering built-in rent growth to hedge against inflation. Strategically positioned in a dense retail corridor, the property benefits from strong surrounding demographics and excellent visibility. This offering represents a rare opportunity to acquire a passive, net lease investment backed by one of the largest and most reputable banking institutions in the United States. The combination of a high-credit tenant, absolute NNN Ground lease structure, and prime infill location make this an ideal asset for investors seeking stable income and attractive opportunity.