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Bank of America 7110 Harrison Rd 4,493 SF Retail Building Fredericksburg, VA 22407 $4,848,000 ($1,079.01/SF) 7% Cap Rate
Investment Highlights
- Attractive Rent Increases of 10% Every Five Years Including Option Periods; Tenant has 5, Five Year Renewal Options
- Sitting on a Hard Corner at the Four-Way Signalized Intersection of Plank Road (83,616 Vehicles Per Day) & Harrison Road (14,000 Vehicles Per Day)
- 94,943 people living within a 5-mile radius with an average household income of $126,061
- Guaranteed by Bank of America with an S&P A+ Credit Rating; Ranked #18 in the 2024 Fortune 500 Index; 5th Largest Holding Company in the world
- Surrounded by Numerous National Retailers such as Starbucks, Walgreens, Wendy's, Home Depot, Petco, Stop & Shop, Wells Fargo Bank, Among Many Others
Executive Summary
8.5 Years Remaining on an Absolute Triple-Net (NNN) Bank of America Ground Lease; 4,493 SF Building with Three Drive-Through Lanes
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
4,493 SF
Building Class
B
Year Built
2008
Price
$4,848,000
Price Per SF
$1,079.01
Cap Rate
7%
NOI
$339,405
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.37 AC
Zoning
CSC - Commercial shopping center
Parking
26 Spaces (5.79 Spaces per 1,000 SF Leased)
Frontage
273’ on Harrison Rd
Amenities
- Banking
- Corner Lot
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-19-1 | Improvements Assessment | $1,692,700 |
| Land Assessment | $1,432,200 | Total Assessment | $3,124,900 |
Property Taxes
Parcel Number
22-19-1
Land Assessment
$1,432,200
Improvements Assessment
$1,692,700
Total Assessment
$3,124,900
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Bank of America | 7110 Harrison Rd
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