Bank of America

810 Main St, New Rochelle, NY
Deal Type:
Net Lease
Price:
$18,625,000
Cap Rate:
4.00%
Current Rent:
$745,000
Landlord Responsibilities:
Roof, foundation, structure
Lease Expiration Date:
Approx. 13.75 years
Renewal Options:
Three, 10-year options
Building Sq. Ft.:
9,583 sf
Rent Increases:
See primary term rent schedule
Site Size:
1.13 acres

Investment Highlights

  • Investment grade credit tenant (S&P: A+)
  • Attractive rent increases throughout the primary term and options
  • 13.75 years of lease term remaining with minimal landlord maintenance responsibilities
  • Relocation of former New Rochelle branch that had $124mm in deposits
  • High traffic corridor anchored by Costco and The Home Depot
  • 3, 10-year extension options with 15% rent bumps every 5 years
  • Irreplaceable NYC metro location with 223,000 people within 3 miles
  • Affluent customer base with average household incomes of $117,000
  • Large 1.13 acre parcel at signalized hard corner
  • 800 feet away from full access to I-95 (over 114,000 VPD)

Listing Agents

Philip DiGennaro

Managing Director
203 610 1541
Phil@stream-cp.com

Graham Gold

Vice President
314 324 8792
graham@stream-cp.com

Connor Shell

Managing Director
407 913 9009
Connor@stream-cp.com

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