107 Main St - Bank FOR SALE


Old Saybrook, CT 06475
$3,184,000 USD
480-221-4221
107 Main St, Old Saybrook, CT for Sale
$3,184,000 USD
Bank - FOR SALE
1/8
null | 6.75% Cap Rate

107 Main St
Old Saybrook, CT 06475


HIGHLIGHTS

  • 2+ Years Remaining | Options To Extend | Scheduled Rental Increases | Established Brand | $240M+ Deposits
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Old Saybrook Shopping Center (330,000+ SF) | Retail Corridor |Strong National/Credit Tenant Presence | Drive-Thru Equipped
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Bank of America investment property located in Old Saybrook, Connecticut. The tenant, Bank of America, N.A., has 2+ years remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 14% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The property is equipped with a double drive-thru along Main St, providing ease and convenience for customers. This location reported over $240 million in deposits.

FOR SALE DETAILS

PRICE

$3,184,000 USD

PRICE/SF

$746 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bank Of America | Corp NN w/ Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

B-1

APN/PARCEL ID

OSAY-000037-000018

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.