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Bank of America 3224 Solomons Island Rd

4,553 SF Retail Building Edgewater, MD 21037 $4,748,005 CAD ($1,043 CAD/SF) 6.75% Cap Rate

Banks Maryland Edgewater 3224 Solomons Island Rd, Edgewater, MD 21037

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
$4,748,005 CAD
Price Per SF
$1,043 CAD
Cap Rate
6.75%
NOI
$320,490 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Land Acres
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
Starbucks
Safeway
The Greene Turtle Sports Bar& Grille
Truist
Weis Markets
Shore United Bank
Chase
IHOP

PROPERTY TAXES

Parcel Number 01-744-06864607 Improvements Assessment $0 CAD
Land Assessment $0 CAD Total Assessment $2,675,179 CAD

PROPERTY TAXES

Parcel Number
01-744-06864607
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,675,179 CAD
(332) 345-4222

  • Listing ID: 33152030

  • Date on Market: 2024-09-12

  • 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.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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

Bank of America | 3224 Solomons Island Rd

1/4

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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