Offering Memorandum
Highlights
- 13+ Years Remaining on Original 15-Year Absolute Triple Net (NNN) Ground Lease with 8 x 5-Year Options and 10% Rental Increases Every 5 Years
- Investment Grade (A-S&P) Guaranty from Bank of America - 6,200 Locations in 38 States, $206 Billion +/- Market Capitalization, 6th Largest Bank min the World by Assets ($3.05 Billion)
- Corner Location Along Heavily Trafficked Garden of the Gods Road (34,000+ VPD). Near Highway Exit of I-25 and Surrounded by National Retailers
- Proximate to Garden of the Gods Designated National Landmark - Approximately 4+ Million Annual Visitors
- Daytime Population of 25,323 is more than triple of that of the 6,959 Residents within a 1-Mile Radius of the Subject Property
- Price: $3,308,000
- Lot Size: 0.74 AC
- Cap Rate: 5.00%
- Lease Type: Absolute Triple Net (NNN) Ground Lease
- Year Built: 2022
- Building SF: 4,154
- Status: Sold
- Guarantor: Corporate Guarantee - Bank of America