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Bank of America | Philadelphia, PA 5692 Rising Sun Ave 11,082 SF Retail Building Philadelphia, PA 19120 $5,277,000 ($476.18/SF) 5.25% Cap Rate
Investment Highlights
- Corporately guaranteed by Bank of America, NA and rated A+ by Standard & Poor's
- Located roughly 6 miles away from Center City Philadelphia in an extremely dense area with over 45,000 people within a 1-mile radius
- Ideally positioned less than a mile from the Roosevelt Blvd (Rt-1), the busiest corridor in all of NE Philadelphia with traffic counts over 70,000 VPD
- Previously located approx. 1 mile away in mid-block, older outdated building and no drive-thru but with strong deposit performance over $100M
- "Mission Critical" full service location with strong real estate fundamentals
- New long term lease with 10% rental increases every 5-years throughout the base term and in each option period
Executive Summary
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Bank of America property located at 5692 Rising Sun Avenue, Philadelphia, PA. This 11,082 SF asset is secured by a NNN lease with 10 years of remaining term and three (3) five-year renewal options. Due to the strength of the location, Bank of America contractually agreed to 10% rental increases every five years, both throughout the base term and in each option period, offering investors consistent yield growth and long-term income security. The lease is corporately guaranteed by Bank of America, NA, a multinational investment bank and financial services institution with $2.57 trillion in total assets and an “A+” credit rating from Standard & Poor’s, providing investment-grade security.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,082 SF
Building Class
C
Year Built/Renovated
1990/2024
Price
$5,277,000
Price Per SF
$476.18
Cap Rate
5.25%
NOI
$277,050
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
0.81 AC
Opportunity Zone
Yes
Zoning
CA2
Parking
35 Spaces (3.16 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
- Drive Thru
- Air Conditioning
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 882181625 | Improvements Assessment | $2,876,000 |
| Land Assessment | $719,000 | Total Assessment | $3,595,000 |
Property Taxes
Parcel Number
882181625
Land Assessment
$719,000
Improvements Assessment
$2,876,000
Total Assessment
$3,595,000
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