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U.S. Bank Branch 680 Broadway Ave 6,825 SF Retail Building Bedford, OH 44146 $805,000 ($117.95/SF) 7.45% Cap Rate
Investment Highlights
- Absolute NNN lease with corporate guarantee by U.S. Bank.
- Investment supported by tenant’s investment-grade credit rating and national presence.
- Priced below replacement cost at under $118/sq. ft.
- Occupied by U.S. Bank since 2011
- Located on a downtown Bedford corridor with pedestrian and vehicle traffic.
Executive Summary
U.S. Bank, which operates over 2,000 branches and holds an S&P AA- investment-grade rating, has shown a strong commitment to this location with an early 5 year extension of an absolute NNN lease through November 2031, that calls for 2.0% annual rent escalations during renewal options. The structure of this absolute NNN lease transfers all operating responsibility to the tenant, providing investors with predictable cash flow and no management obligations. Tenant is paying below market rent of just $.73/sq. ft. NNN
The property sits in a dense trade area with over 59,000 residents within a 3-mile radius and is adjacent to essential retailers, local services, and community amenities. Its downtown positioning and enduring tenancy make this an attractive long-term investment opportunity anchored by a creditworthy tenant.
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
U.S. Bank, operating under its parent company U.S. Bancorp, is one of the largest financial institutions in the United States. Headquartered at the U.S. Bancorp Center in Minneapolis, Minnesota, the bank provides consumer banking, commercial banking, wealth management, payments services, mortgage lending, and institutional financial solutions. Founded under national bank charter No. 24 in 1863, the institution has grown into a national provider with a strong emphasis on digital capabilities, financial inclusion, and sustainable growth initiatives. U.S. Bank is a publicly traded company listed on the New York Stock Exchange under the ticker USB and consistently ranks within the Fortune 500. Led by CEO Gunjan Kedia, the bank’s operations are guided by a Managing Committee and governed by an experienced Board of Directors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 812-13-051 | Improvements Assessment | $129,045 |
| Land Assessment | $4,900 | Total Assessment | $133,945 |
Property Taxes
Presented by
U.S. Bank Branch | 680 Broadway Ave
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