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Bank

Bank of America

1196 E Main St, Torrington, CT 06790

Listing Price: $1,000,000

Cap Rate
6.00%
Tenant Name
Bank of America, N.A.
Years Remaining On Lease
5.1
Guarantor
Corporate Guarantee
Rentable SF
2,203
Lease Type
Double Net
Rent Per Square Feet
$27.24

Investment Overview

Marcus & Millichap is pleased to present the offering memorandum for a Bank of America located at 1196 E Main Street in Torrington, CT. The site consists of roughly 2,203 rentable square feet of building space on estimated 0.53-acre parcel of land. The Bank of America is subject to an original 20-year Double-Net (NN), which commenced January 12th, 1972, and has roughly 6 Years of term remaining. The annual rent is$60,000 and is scheduled to increase by two percent (2.00%) in each option period, for each of the remaining seven (7), five (5)-year renewal options.

Investment Highlights

  • Highest Branch Bank Deposit Figures in Zip Code | This Bank of America Branch Location Holds ~$218 Million in Deposits
  • Branch Bank Location Since 1972 | Tenant Display of Commitment to Market |Renewal Option Recently Exercised, Extending Lease Term Out to 2027
  • Seven (7), Five (5)-Year Tenant Renewal Options Remain, Bringing the Potential Lease Term to 90 Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • James Ventura

    Licensed Associate Real Estate Broker

    (212) 430-5127

    Email James

    License(s): NY: 10301207395

    Manhattan

Listing Price: $1,000,000

Cap Rate
6.00%
Tenant Name
Bank of America, N.A.
Years Remaining On Lease
5.1
Guarantor
Corporate Guarantee
Rentable SF
2,203
Lease Type
Double Net
Rent Per Square Feet
$27.24

Investment Highlights

  • Highest Branch Bank Deposit Figures in Zip Code | This Bank of America Branch Location Holds ~$218 Million in Deposits
  • Branch Bank Location Since 1972 | Tenant Display of Commitment to Market |Renewal Option Recently Exercised, Extending Lease Term Out to 2027
  • Seven (7), Five (5)-Year Tenant Renewal Options Remain, Bringing the Potential Lease Term to 90 Years

Investment Overview

Marcus & Millichap is pleased to present the offering memorandum for a Bank of America located at 1196 E Main Street in Torrington, CT. The site consists of roughly 2,203 rentable square feet of building space on estimated 0.53-acre parcel of land. The Bank of America is subject to an original 20-year Double-Net (NN), which commenced January 12th, 1972, and has roughly 6 Years of term remaining. The annual rent is$60,000 and is scheduled to increase by two percent (2.00%) in each option period, for each of the remaining seven (7), five (5)-year renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • James Ventura

    Licensed Associate Real Estate Broker

    (212) 430-5127

    Email James

    License(s): NY: 10301207395

    Manhattan

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