5692 Rising Sun Ave - Bank FOR SALE


Philadelphia, PA 19120- Lawncrest
$5,541,000 USD
215-603-6914
5692 Rising Sun Ave, Philadelphia, PA for Sale
$5,541,000 USD
Bank - FOR SALE
1/9
null | 5% Cap Rate

5692 Rising Sun Ave
Philadelphia, PA 19120
Lawncrest


HIGHLIGHTS

  • Corporately guaranteed by Bank of America, NA and rated A+ by Standard & Poor's
  • Previously located approx. 1 mile away in mid-block, older outdated building and no drive-thru but with strong deposit performance over $100M
  • Located roughly 6 miles away from Center City Philadelphia in an extremely dense area with over 45,000 people within a 1-mile radius
  • "Mission Critical" full service location with strong real estate fundamentals
  • Ideally positioned less than a mile from the Roosevelt Blvd (Rt-1), the busiest corridor in all of NE Philadelphia with traffic counts over 70,000 VPD
  • New long term lease with 10% rental increases every 5-years throughout the base term and in each option period

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Bank of America property located at 5692 Rising Sun Avenue, Philadelphia, PA. This 11,082 SF asset is secured by a NNN lease with 10 years of remaining term and three (3) five-year renewal options. Due to the strength of the location, Bank of America contractually agreed to 10% rental increases every five years, both throughout the base term and in each option period, offering investors consistent yield growth and long-term income security. The lease is corporately guaranteed by Bank of America, NA, a multinational investment bank and financial services institution with $2.57 trillion in total assets and an “A+” credit rating from Standard & Poor’s, providing investment-grade security.

FOR SALE DETAILS

PRICE

$5,541,000 USD

PRICE/SF

$500 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bank of America | Philadelphia, PA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

CA2

APN/PARCEL ID

882181625

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

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