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Bank of America 3224 Solomons Island Rd

4,553 SF Retail Building Edgewater, MD 21037 £2,644,785 (£581/SF) 6.75% Net Initial Yield

Investment Highlights

  • Long-Term, Original 20-Year Absolute Triple Net (NNN) Lease
  • $163,766,000 in Deposits | 2nd Highest Deposits for any Bank in Zip Code
  • Twelve Percent (12%) Rental Increases Occurring Every Five (5) Years
  • Approximately 6.0 Years Remaining
  • Bank of America Recently Extended Their First Option to Renew Early, Proving Commitment to the Location
  • Three (2), Five (5)-Year Tenant Renewal Options Remaining

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for a Bank of America located at 3224 Solomons Island Rd, Edgewater MD. The site consists of roughly 4,553 rentable square feet of building space on estimated 1.32-acre parcel of land. This Bank of America is subject to a 20-year absolute triple-net (NNN) lease, which commenced December 8th, 2004. Bank of America recently extended their first renewal option early, moving the expiration date to December 7th, 2029. The current annual rent is $228,159 and is scheduled to increase by 12% in each of the remaining 2, 5-year renewal options.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
4,553 SF
Building Class
C
Year Built
2003
Price
£2,644,785
Price Per SF
£581
Net Initial Yield
6.75%
NOI
£178,523
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Lot Size
1.32 AC
Parking
30 Spaces (6.59 Spaces per 1,000 SF Leased)
Frontage
100 ft on Solomons Island Road
1 of 1
3224 Solomons Island Rd, Edgewater, MD - aerial map view
Walk Score ®
Very Walkable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Bank of America
Sandy Spring Bank
Safeway
Starbucks
The Greene Turtle Sports Bar& Grille
Truist
Weis Markets
Shore United Bank
Chase
IHOP

PROPERTY TAXES

Parcel Number 01-744-06864607 Improvements Assessment £0
Land Assessment £0 Total Assessment £1,493,645

PROPERTY TAXES

Parcel Number
01-744-06864607
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,493,645
(332) 345-4222

Contacts

  • Listing ID: 33152030

  • Date on Market: 12/09/2024

  • Last Updated:

  • Address: 3224 Solomons Island Rd, Edgewater, MD 21037

The Retail Property at 3224 Solomons Island Rd, Edgewater, MD 21037 is currently available for sale. Contact NNN Pro Group for more information.

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© 2024 CoStar Group

Bank of America | 3224 Solomons Island Rd
(332) 345-4222 x

Bank of America | 3224 Solomons Island Rd

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Kyle Karsian

(332) 345-4271

(332) 345-4271

Patrick Finn

(332) 345-7297

(332) 345-7297

Davis Ford

(332) 345-1035

(332) 345-1035

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