Bank of America

1030 Wolcott Street, Waterbury, CT 06705

$5,180,000

Cap Rate 5.27%

Views: 51 DOM: 67 Updated: 09.02.24 Posted: 07.11.24 Status: Active

Summary

Price $5,180,000	Built/Renov 1999	Tenant Bank of America
Cap Rate 5.27%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 10,984	Lease Start 11-16-2024	#Units 3,845
Price/SF $471.60	Expiration 11-15-2039	Tenant Type Bank/Financial
NOI $272,872	R. Term 15.2	Ownership Fee Simple
Rent/SF $24.84	Increases 2.5%/1/yrs	Pop 5Mi 154,881
Lot/AC 3.22	Options 4/5yrs/2.5%	AHHI 5Mi $75,987

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Brand-new 15-year lease with 4 (5-year) options to extend
The lease features 2.5% annual rental escalations throughout the initial term and fluctuating escalations at the start of each option period
Two-Tenant retail center | Immediate upside through leasing the remaining vacant suite
Corporate guarantee | Investment grade tenant

Location Description

Bank of America is strategically located on Wolcott Street, with access to 25,600 vehicles passing by daily. The property features two points of ingress and egress and is surrounded by well-known national tenants such as Burger King, KFC, McDonald's, Panera Bread, Walmart, Wendy's, and more. The 5-mile trade area boasts a population of 154,881 residents with an average household income of...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strong demographics
Brand new lease
Long 15+ yr lease
Annual rent increases
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Bank of America Wikipedia Bank of America Wikipedia Waterbury, Connecticut Zip Code 06705 Broker Site Page

Maps

Local Information

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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Listing Broker

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