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U.S. Bank Branch 680 Broadway Ave 6,825 SF Retail Building Bedford, OH 44146 $1,128,932 CAD ($165.41 CAD/SF) 7.45% Cap Rate
Investment Highlights
- Absolute NNN lease with corporate guarantee by U.S. Bank.
- Investment supported by tenant’s investment-grade credit rating and national presence.
- Priced below replacement cost at under $118/sq. ft.
- Occupied by U.S. Bank since 2011
- Located on a downtown Bedford corridor with pedestrian and vehicle traffic.
Executive Summary
U.S. Bank, which operates over 2,000 branches and holds an S&P AA- investment-grade rating, has shown a strong commitment to this location with an early 5 year extension of an absolute NNN lease through November 2031, that calls for 2.0% annual rent escalations during renewal options. The structure of this absolute NNN lease transfers all operating responsibility to the tenant, providing investors with predictable cash flow and no management obligations. Tenant is paying below market rent of just $.73/sq. ft. NNN
The property sits in a dense trade area with over 59,000 residents within a 3-mile radius and is adjacent to essential retailers, local services, and community amenities. Its downtown positioning and enduring tenancy make this an attractive long-term investment opportunity anchored by a creditworthy tenant.
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Finance and Insurance
- -
- -
- -
U.S. Bank traces its roots to the 1860s, with a current operating charter signed in 1863 and a history that grew from early Midwestern banking into the modern enterprise. U.S. Bancorp serves as the publicly traded parent company of U.S. Bank, and the business offers banking, investment, mortgage, trust, and payment services to consumers, businesses, and institutions. The company's operating mix includes consumer banking, business banking, commercial banking, institutional banking, payments, and wealth management. U.S. Bank maintains a broad national presence and serves customers across local, national, and global markets through this diversified platform.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
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Finance and Insurance | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 812-13-051 | Improvements Assessment | $183,334 CAD |
| Land Assessment | $6,961 CAD | Total Assessment | $190,296 CAD |
Property Taxes
Presented by
U.S. Bank Branch | 680 Broadway Ave
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