2335 Boonville Rd, Bryan, TX 77808
Investment Property for Sale. The bank building, which is owned by the tenant, contains approximately 3,896 square feet.
In addition, there is a canopy area of approximately 880 square feet covering four drive-thru lanes, one of which includes an ATM.
The land size is 42,297 square feet (0.971 acres). The sales price has recently been reduced to $2,440,000 to create a 6% return.
Details:
Property Type Retail
Sub type Bank
Lease Type Net
Lease Term 20 years
Square Footage 42,297
Cap Rate 6.00%
NOI $146,410
Year Built 2009
Zoning C2 Commercial
Lot Size (acres) 0.971
Parking (spaces) 32
Lease Options Four Five year options to renew; each with 10% rental increases.
Ground Lease Yes
Ground Lease Expiration 05/30/2029
Investment Highlights
- Lease is with JPMorgan Chase Bank, National Association
- 20 Year lease, beginning May 15, 2009, and expiring May 31, 2029
- Absolute Net Lease (No Landlord responsibilities)
- Four Five-year options to renew; each with 10% rental increases.
- Present base rent of $12,201 per month = $146,410 per year.