For Sale
$1,400,000

525 Bank Of America Blvd Grand Prairie, TX 75051

Grand Prairie, TX Bank ATM - $1.4M

Overview

Added:
Dec 11, 2024
Days on market:
133
Exceptional investment opportunity: a Bank of America ATM branch in Grand Prairie, Texas, presents a compelling net lease offering. This 1.46-acre property features a 24-hour, 11-lane drive-thru ATM, operating continuously since 1981. The current absolute NNN lease with Bank of America, the second largest bank in the US, boasts a remaining term of 3.4 years, plus one five-year option. The lease includes a corporate guarantee and features market value rent bumps. The property enjoys a 100% occupancy rate and generates an annual net operating income (NOI) of $84,000, resulting in a 6.00% cap rate. The tenant's long-standing presence (41+ years) and recent 5-year lease extension with a 20% rent increase underscore their commitment. The ATM serves a neighboring Bank of America office tower with over $345 million in deposits and a 49%+ market share in the 75051 zip code. This prime location within the Dallas-Fort Worth MSA (the 4th largest in the US, with a population exceeding 7.75 million) offers exceptional stability and growth potential. The property is zoned commercial and benefits from an investment-grade A+ rating. This is one of the lowest-priced bank properties currently available for sale in Texas. The asking price is $1,400,000.

Highlights

  • $1,400,000 asking price for a net-leased retail property.
  • Bank of America is the tenant with a corporate guarantee, occupying the property for 41+ years.
  • The property features a 24-hour, 11-lane drive-thru ATM.
  • The lease has a remaining term of 3.4 years, with a 5-year option.
  • Located in Grand Prairie, TX, within the Dallas-Fort Worth MSA.
  • The property boasts a 6.00% cap rate and a $84,000 annual net operating income (NOI).

Property Details for 525 Bank Of America Blvd

Property type
Retail properties, Banks
Year Built
1981
Lot Size (sq. ft)
63,598 SF

Location Insight

City
Grand Prairie
County
Dallas
State
Texas
Latitude
32.7395971
Longitude
-97.0179343

FAQs

What type of property is this?
Retail property - Grand Prairie, TX Bank ATM - $1.4M
Where is the retail property located?
The property is located at 525 Bank Of America Blvd Grand Prairie, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: $1,400,000 asking price for a net-leased retail property.; Bank of America is the tenant with a corporate guarantee, occupying the property for 41+ years.; The property features a 24-hour, 11-lane drive-thru ATM.
How can I contact the broker?
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525 Bank Of America Blvd
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