Bank of America · ABOUT THE TENANT Bank of America Corporation was founded in 1874 and is based in Charlotte, North Carolina. Bank of America Corporation, through its subsidiaries,

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1963 SOUTH CRATER ROAD | RICHMOND, VA

PRICE: $1,092, 722 | CAP: 4.50%I N V E S T M E N T O F F E R I N G

Bank of AmericaBank of America R

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EXECUTIVE SUMMARY

BANK OF AMERICA | PETERSBURG, VA

BANK OF AMERICA

PRICE:$1,092,722

CAP: 4.50%

NOI:$49,172

LOCATION:

BUILDING SIZE:

LAND SIZE:

GUARANTOR:

LEASE TYPE:

LEASE EXPIRATION:

LESSEE:

OPTIONS:

INCREASES:

ROFR:

1963 South Crater RoadPetersburg, VA 23805 (Richmond, VA)

±2,550 Square Feet

±0.34 Acres

Bank of America www.bankofamerica.com

Absolute NNN Ground Lease

May 31st, 2025

Bank of America

(2) 5-Year Options Recently Added

15% Increases at Each Option

None

RETAIL INVESTMENT GROUP

ACTUAL PROPERTY

www.bankofamerica.com

Retail Investment Group is pleased to be the exclusive listing agent for Chick-fil-A in Topeka, Kansas. The subject property is ±4,730 square feet and is situated on 1.09 acres. There are ±18,640 vehicles per day on SW Wanamaker Road and ±10,995 vehicles per day on SW 17th Street. There are also ±33,700 vehicles per day on the nearby I-470 and ±20,575 on SW 21st Street.

There are many retailers nearby including Walmart, Sam’s Club, Best Buy, Plato’s Closet, David’s Bridal, Bed Bath & Beyond, Kohl’s, Lowe’s and the entire West Ridge Mall with ±90 other stores. Surrounding food establishments include McDonald’s, Applebee’s, Panera Bread, Denny’s Taco Bell, IHOP, Wendy’s, Cracker Barrel, Olive Garden, Red Lobster and more. The Regal West Ridge Movie Theater and West Ridge Lanes Family Fun Bowling Alley are also nearby along with multiple hotels. Apartments and single-family homes surround the area, with McCarter Elementary School and Topeka West High School both less than ±1.5 miles away. There is a population of ±90,735 within a 5-mile radius, and the annual average household income within 1-mile radius is $55,720.

PROPERTY OVERVIEW

BANK OF AMERICA | PETERSBURG, VA

• Long Term Tenant in Place Since 2001 - Recently Added Two

More Options

• Corporate Tenant - Bank of America (NYSE - BAC)

• $73,184,000 in Deposits - Per FDIC as of June 2019

• Zero Landlord Responsibilities - Absolute NNN Ground Lease

• Excellent Increases at 15% In Each Option Period

• Nearby National Tenants - McDonald’s, CVS, Family Dollar,

AutoZone and Sherwin Williams

• Out-Parcel Corner Location of a Shopping Center

Investment Highlights

Retail Investment Group is pleased to be the exclusive listing agent for Bank of America in Petersburg, Virginia. This property is an absolute NNN ground lease with 2 (5)-year options and excellent 15% increases at each option period. The lease is set to expire May 31, 2025. The building is ±2,550 square feet and sits on ±0.34 acres of land. The property has high visibility along S. Crater Rd., which sees ±23,000 vehicles per day. Bank of America (NYSE – BAC) has been the corporate tenant in place since the 2001, and benefits from below market rent. The location has $73,184,000 in deposits per FDIC as of June 2019. The property is an outparcel to the Walnut Hill Plaza shopping center, and there are multiple national tenants nearby including: McDonald’s, CVS, Family Dollar, AutoZone and Sherwin Williams.

E South Ave: ±2,337 VPD

S Crater Rd: ±23,000 VPD

S Sycamore St: ±7,556 VPD

Petersburg, Virginia is situated along the historic James River. The city is known for its deep history from the revolutionary war to the civil war and beyond. Today, it is home to ±32,000 people and continues to be a region of great historic, commercial and economic importance. Petersburg constantly has activities planned for its residents such as the River Street Market that pops up every Saturday with fresh produce, baked goods, herbs and spices, jewelry, art and more.

Petersburg along with Hopewell and Colonial Heights are part of the Richmond MSA. This MSA is home to ±1.3 million Virginians or 15.1% of Virginia’s population. The Richmond region is growing at a steady rate, adding nearly ±400,000 residents in the past two decades. This rise resulted in a boost in the area’s economy, the building of malls, more national attention, and major sporting events and concerts coming to Richmond. Its arts and culture scene has also seen major gain, with the building or renovations of multiple arenas, including the Landmark Theater, Carpenter Center and CenterStage. The First Fridays Art Walk on Broad Street in Downtown Richmond has also become a huge event drawing crowds of ±20,000 locals and tourists alike.

In order of the number of workers, the major employment categories of the region are services; retail trade; manufacturing; state government; finance, insurance and real estate; local government; construction; wholesale trade; transportation and public utilities and federal government. This economic diversity, which is typical of the entire Richmond-Petersburg region, helps to insulate it from hardship due to economic fluctuation in particular sectors of the economy. The region’s central location also allows it to benefit from growth in other regions of Virginia and the state as a whole.

ABOUT ABOUT PETERSBURGPETERSBURG

BANK OF AMERICA | PETERSBURG, VA

(Richmond MSA)

I-470: ±33,700 VPD

I-4

70: ±33,700 VPD

sw 17

th S

t: ±8

,755 V

PD

NBANK OF AMERICA | PETERSBURG, VA

ABOUT THE TENANTBank of America Corporation was founded in 1874 and is based in Charlotte, North Carolina. Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets.

The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, non-interest and interest-bearing checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans. This segment provides its products and services through approximately 4,600 financial centers, 15,900 ATMs, call centers, and online and mobile platforms.

The Global Wealth & Investment Management segment offers investment management, brokerage, banking, and retirement products, as well as wealth management and customized solutions.

The Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, real estate lending, and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services.

The Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management, foreign exchange, fixed-income, and mortgage-related products

BANK OF AMERICA | PETERSBURG, VA

Bank of AmericaBank of America

ADDITIONAL PHOTOS

Actual PropertyBANK OF AMERICA | PETERSBURG, VA

2019 DEMOGRAPHICS

2010 Population

2019 Population

2024 Population

2010 Households

2019 Households

2024 Households

S Crater RD:

S Sycamore St:

Colonial HeightsColonial Heights

1-Mile 3-Mile 5-Mile VEHICLES PER DAY1-Mile 3-Mile 5-Mile

5-Mi

le Ra

dius

3-Mi

le Ra

dius

1-M

ile Ra

dius

8,016 33,491 65,245

6,907 32,620 68,190

6,660 32,394 69,439

3,342 13,704 24,875

2,845 13,435 25,988

2,732 13,333 26,410

±23,000/VPD

±7,556/VPD

New BohemiaNew Bohemia

PetersburgPetersburg

SoutherlandSoutherland

Dabney EstatesDabney Estates

DisputantaDisputanta

Prince GeorgePrince George

BANK OF AMERICA | PETERSBURG, VA

MatoacaMatoaca

Fort LeeFort Lee

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Retail Investment Group and it should not be made available to any other person or entity without the written consent of Retail Investment Group.

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Retail Investment Group. This offering memorandum has been prepared to provide summary, unverified financial

and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

Retail Investment Group has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.

The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment

Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

The information contained herein has been obtained from the owner of the property or from other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

If you have no interest in the Property, please return this Investment Offering Memorandum to Retail Investment Group, LLC.

8255 E Raintree Drive #100Scottsdale, AZ 85260T 480.429.4580 E [email protected]

Confidentiality& Disclaimer

BANK OF AMERICA | PETERSBURG, VA

www.retail1031.com

4 8 0 . 4 2 9 . 4 5 8 0 | w w w . r e t a i l 1 0 3 1 . c o mSteven DavisManaging Member

AZLIC: [email protected]

Mark McLooneSenior Associate

AZLIC: [email protected]

c o n t a c t u s8 2 5 5 E R a i n t r e e D r i v e S u i t e 1 0 0 S c o t t s d a l e , A Z 8 5 2 6 0

Andrew KnightVirginia Broker of Record

VALIC: #225214094