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Bank of America 217 E Lancaster Ave 3,640 SF Retail Building Wayne, PA 19087 $6,723,568 ($1,847.13/SF) 6.25% Cap Rate

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INVESTMENT HIGHLIGHTS

14+ years of successful operation
Absolute NNN Lease Zero Landlord responsibility
1 mile median home values $730k

23,000+ VPD
Located 12 miles from Downtown Philadelphia
20 years of renewal options

EXECUTIVE SUMMARY

Goldcap Real Estate Advisors is pleased to exclusively present 217 E Lancaster avenue Wayne, PA. The asset is an absolute NNN Leased Retail condominium leased to Bank of America with zero landlord responsibility and 10% rent increases every 5 years or 5 years CPI allowing for a completely passive and stable investment. Bank of America has successfully operated in this location for 15+ years and has 4+ years left of the initial 20 year term with 4-5 year options to renew. This location receives 24,000 Visitors per day and is surrounded by many national Franchise and credit rated tenants including Chase Bank, TD Bank, CVS, Whole Foods, Giant,Acme, Rite aid, Dunkin Chipotle and many more. Wayne PA is located in Delaware county, a suburb 12 Miles from Downtown Philadelphia on the prestigious and affluent Main Line region.

PROPERTY FACTS

Sale Type

Investment NNN

Sale Condition

1031 Exchange

Property Type

Retail

Property Subtype

Bank

Building Size

3,640 SF

Building Class

Year Built/Renovated

2006/2010

Price

$6,723,568

Price Per SF

$1,847.13

Cap Rate

6.25%

NOI

$420,223

Tenancy

Single

Building Height

2 Stories

Building FAR

0.13

Lot Size

0.62 AC

Zoning

C-2 - Commercial

Parking

38 Spaces (10 Spaces per 1,000 SF Leased)

Air Conditioning

Finance and Insurance
99,999 SF
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Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving many million consumer and small business clients with retail financial centers, approximately ATMs (automated teller machines) and award-winning digital banking with millions verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.