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U.S. Bank Branch 680 Broadway Ave 6,825 SF Retail Building Bedford, OH 44146 $1,118,564 CAD ($163.89 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. Bancorp began with a national bank charter from 1863 and grew through a long history of banking combinations into the modern institution. U.S. Bancorp is the parent company of U.S. Bank National Association and offers consumer and business banking, corporate and commercial banking, payment services, mortgage products, trust services, and investment and wealth-related services. The company serves consumers, businesses, and institutions through branch banking, digital channels, and specialized financial services. U.S. Bancorp maintains a broad market presence across the United States, with additional reach in Canada and Europe.
| 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 | $177,824 CAD |
| Land Assessment | $6,752 CAD | Total Assessment | $184,576 CAD |
Property Taxes
Presented by
U.S. Bank Branch | 680 Broadway Ave
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