Description

Offered for sale is a ground lease property occupied by Bank of America in Colonial Heights, VA. This 3,221-square-foot freestanding building sits on approximately 1.01 acres and has 4.9 years remaining on the lease, with CPI-based rental increases every six years. The property boasts a 50-year operating history and a high-performing branch with over $217 million in deposits, while offering below-market rent compared to other Bank of America locations. Situated on a signalized hard corner at Temple Avenue and U.S. Route 301, the site sees traffic counts of 29,237 vehicles per day and serves a densely populated trade area of more than 92,000 residents within five miles. This strategically located property is a prime investment opportunity in Virginia’s Tri-Cities region.