Property summary
Exceptional investment opportunity: a Bank of America ATM branch in Grand Prairie, Texas, presents a compelling net lease offering. This 1.46-acre property features a 24-hour, 11-lane drive-thru ATM, operating continuously since 1981. The current absolute NNN lease with Bank of America, the second largest bank in the US, boasts a remaining term of 3.4 years, plus one five-year option. The lease includes a corporate guarantee and features market value rent bumps. The property enjoys a 100% occupancy rate and generates an annual net operating income (NOI) of $84,000, resulting in a 6.00% cap rate. The tenant's long-standing presence (41+ years) and recent 5-year lease extension with a 20% rent increase underscore their commitment. The ATM serves a neighboring Bank of America office tower with over $345 million in deposits and a 49%+ market share in the 75051 zip code. This prime location within the Dallas-Fort Worth MSA (the 4th largest in the US, with a population exceeding 7.75 million) offers exceptional stability and growth potential. The property is zoned commercial and benefits from an investment-grade A+ rating. This is one of the lowest-priced bank properties currently available for sale in Texas. The asking price is $1,400,000.
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6 recent transactions · within 1.5 miComparable in this City
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