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Bank of America 1196 E Main St 2,203 SF Retail Building Torrington, CT 06790 $1,451,324 CAD ($658.79 CAD/SF) 5.75% Cap Rate
Investment Highlights
- High-Volume of Bank Deposits
- Strong Income Demographics
- Corporate Guarantee
- Dense Retail Corridor
Executive Summary
Surmount is pleased to present the exclusive listing for a Bank of America located at 1196 East Main Street, Torrington, CT 06790. The site consists of roughly 2,203 rentable square feet of building space on an estimated 0.52-acre parcel of land. Bank of America is subject to a long-term Double Net (NN) lease, which commenced 2/23/1972. The current annual rent is $60,000, and will increase to $61,200 on 2/1/2027. Bank of America recently exercised a Tenant Renewal Option at this location.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
2,203 SF
Building Class
B
Year Built
1970
Price
$1,451,324 CAD
Price Per SF
$658.79 CAD
Cap Rate
5.75%
NOI
$83,451 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.52 AC
Zoning
LB
Frontage
Amenities
- Bus Line
- Pylon Sign
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | TORR-000137-000009-000005 | Improvements Assessment | $658,800 CAD |
| Land Assessment | $138,976 CAD | Total Assessment | $797,776 CAD |
Property Taxes
Parcel Number
TORR-000137-000009-000005
Land Assessment
$138,976 CAD
Improvements Assessment
$658,800 CAD
Total Assessment
$797,776 CAD
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Bank of America | 1196 E Main St
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