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Views: 76 DOM: 100 Updated: 11.04.24 Posted: 08.16.24 Status: Active

Summary

Price $3,474,000
Built/Renov 2024
Tenant Bank of America (GL)
Cap Rate 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,000
Lease Start 12-01-2024
#Units 3,845
Price/SF $868.50
Expiration 12-31-2039
Tenant Type Bank/Financial
NOI $165,000
R. Term 15.1
Ownership Ground Lease
Rent/SF $41.25
Increases 10.0%/5/yrs
Pop 5Mi 144,667
Lot/AC 0.84
Options 4/5yrs/10%
AHHI 5Mi $99,409

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and the beginning of option periods 1 and 2
  • Options 3 and 4 are subject to increases at Fair Market Rental
  • Landlord is responsible for CAM charges and Landlord insurance (subject to tenant reimbursement)
  • Corporate guarantee | Investment grade tenant

Location Description

Bank of America is strategically located near the signalized, hard-corner intersection of Bardstown Rd and Southpointe Blvd. Bardstown Rd, a major retail thoroughfare with access to a combined daily traffic count of 46,700 vehicles. The property will be an outparcel to a future Hy-Vee grocery store-anchored center that also features well-known national tenants, including Panera Bread and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Bank of America
  • Guarantor:Corp T and Rated
  • Company:The Bank of America Corporation
  • # Units:3,845
  • Tenant S&P: A-
  • Moody’s: A1
  • Stock: NYSE: BAC

About Tenant

The Bank of America Corporation (commonly referred to as Bank of America; often abbreviated as BofA or BoA) is an American multinational investment bank and financial services holding company...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,059 58,369 146,737
2024 Total Population : 7,994 57,685 145,164
2024 Employed Civilian Pop : 3,813 30,991 76,066
2024 Total Businesses : 272 1,127 3,545
2024 Average Household Income : $ 97,354 $ 110,873 $ 104,321
2024 Total Consumer Spending : $ 294 M $ 2210 M $ 5284 M
2024 Median Age : 43 41 40
2024 Total Households : 3,472 22,893 57,891
2024 Pop Age 25+: Bachelor's Degree : 1,062 9,823 24,597
2024 Average Home Value : $ 325,657 $ 302,320 $ 298,717
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Wingfield Rd Wingfield Ave 2010 20 0.08 mi
Bardstown Rd Wingfield Ave 2012 43,500 0.17 mi
Bardstown Rd 2022 7,124 0.21 mi
2015 5,622 0.21 mi
I- 265 2022 2,568 0.22 mi
I-265 RAMP from US 31E Bardstown Rd 2021 2,568 0.22 mi
Bardstown Rd 2022 9,151 0.30 mi
Brentlinger Ln Bardstown Rd 2012 5,400 0.31 mi
Cedar Creek Rd Adair Creek Dr 2012 2,100 0.32 mi
Bardstown Rd 2022 13,422 0.34 mi

Listing Broker

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