Bank of America

RDO Investments and DZ Net Lease Realty, LLC, PA Broker is pleased to present 12012 Frankstown Road, a 3,953 SF freestanding Bank of America located in Pittsburgh, Pennsylvania.

The Bank of America provides the rare opportunity to acquire an absolute NNN ground lease interest in a new class “A” Bank of America retail banking location. The building was delivered in 2021 and features a 3,953 square foot retail banking center, two-lane drive through, 24/7 ATM access, a stunning modern façade, and beautiful new landscaping. Bank of America’s 15-year Absolute NNN ground lease includes rare, attractive 12.5% rental increases every five years throughout the primary term and each of its two (2) five-year renewal options.

In September 2018 Bank of America opened its first location in the Pittsburgh MSA and announced plans to expand in this highly desirable market with an additional 15 financial centers over the course of two years. The Pittsburgh site is the banks 68th in the Commonwealth of Pennsylvania, and the 10th in the region. By June 2020, Bank of America had climbed to #5 in deposits by market share in the Pittsburgh MSA (Federal Deposit Insurance Corp). Bank of America is strategically located with excellent access and visibility along Frankstown Road/PA Route 380 (18,700 AADT). PA Route 380 is a major east/west corridor into downtown Pittsburgh. In the fivemile radius of the property, the bank serves a densely populated community of 171,794 people earning an average household income of $76,835. This heavily-populated trade area provides Bank of America with a stable built-in customer base well into the foreseeable future.