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Bank

Bank of America | Staten Island, NY | 13-year Lease

3881 Richmond Avenue & 4501 Amboy Road, Staten Island, NY 10312

Listing Price: $5,137,000

Cap Rate
4.75%
Tenant Name
Bank of America
Years Remaining On Lease
13.1
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,483
Price/Gross SF
$1,467.71
Lease Type
Ground Lease
Rent Per Square Feet
$70.05

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a freestanding, Bank of America (the “Property”) located on Staten Island, New York. The lease is a long term, absolute triple net (“NNN”) lease with 13 years remaining with 17% rent bumps in years four and nine. Bank of America, N.A. (the “Tenant”) is a wholly owned subsidiary of Bank of America Corporation, which has an investment grade ‘A+’ rating from S&P. The Property is strategically positioned at the intersection of two major retail corridors with combined traffic counts of 33,187 VPD in a high density, affluent market with almost 150,000 people in 3 miles with income levels 60% above the NYC MSA average. The Property is adjacent to Eltingville Train Station of the Staten Island Rapid Transit which serves 5 million riders annually. Within walking distance of the Property are the area's two main retail centers, Eltingville Shopping Center and Amboy Shopping Center. This offering represents an unique opportunity to acquire an Investment Grade, Long Term, Absolute NNN, Single Tenant Net Lease property with no landlord responsibilities located in a high density, affluent, infill market surrounded by national retailers.

Investment Highlights

  • Bank of America (rated 'A+' by S&P) is America's second largest bank holding company
  • 13-year Absolute NNN lease with no landlord responsibilities, plus two, 10-year options
  • 17% rent bumps in years 4 and 9

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Thomas Dalzell

    Licensed Real Estate Salesperson

    (914) 220-9743

    Email Thomas

    License(s): NY: 10401232983

    Westchester

Financing By

Bank

Bank of America | Staten Island, NY | 13-year Lease

Listing Price: $5,137,000

Cap Rate
4.75%
Tenant Name
Bank of America
Years Remaining On Lease
13.1
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,483
Price/Gross SF
$1,467.71
Lease Type
Ground Lease
Rent Per Square Feet
$70.05

Investment Highlights

  • Bank of America (rated 'A+' by S&P) is America's second largest bank holding company
  • 13-year Absolute NNN lease with no landlord responsibilities, plus two, 10-year options
  • 17% rent bumps in years 4 and 9

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a freestanding, Bank of America (the “Property”) located on Staten Island, New York. The lease is a long term, absolute triple net (“NNN”) lease with 13 years remaining with 17% rent bumps in years four and nine. Bank of America, N.A. (the “Tenant”) is a wholly owned subsidiary of Bank of America Corporation, which has an investment grade ‘A+’ rating from S&P. The Property is strategically positioned at the intersection of two major retail corridors with combined traffic counts of 33,187 VPD in a high density, affluent market with almost 150,000 people in 3 miles with income levels 60% above the NYC MSA average. The Property is adjacent to Eltingville Train Station of the Staten Island Rapid Transit which serves 5 million riders annually. Within walking distance of the Property are the area's two main retail centers, Eltingville Shopping Center and Amboy Shopping Center. This offering represents an unique opportunity to acquire an Investment Grade, Long Term, Absolute NNN, Single Tenant Net Lease property with no landlord responsibilities located in a high density, affluent, infill market surrounded by national retailers.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Thomas Dalzell

    Licensed Real Estate Salesperson

    (914) 220-9743

    Email Thomas

    License(s): NY: 10401232983

    Westchester

Financing By

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