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Bank of America | A+ Credit | Long Term Lease

$1,638,000

1650 Morse Rd, Columbus, OH 43229

Active
Last Updated: 12/19/2025

4,350 sqft

Building Size

0.8561 acres

Lot Area

Details:
Building Size:    4,350 sqft
Lot Area:    0.8561 acres
Class:    B
Year Built:    2018
Floors:    1
Highlights:
  • 6.9B+ IN BRANCH DEPOSITS CONFIRM BANK OF AMERICA’S LONG-TERM COMMITMENT UNDER A STRONG SINGLE-TENANT NNN LEASE
  • INVESTMENT-GRADE, NYSE-LISTED BANK OF AMERICA (BAC) WITH A+ CREDIT, $388B+ MARKET CAP, AND GLOBAL OPERATIONS
  • 118+ YEAR-OLD BANK OF AMERICA, THE U.S.’S 2ND LARGEST BANK, HOLDING OVER 10% OF ALL AMERICAN DEPOSITS
  • LONG-TERM NNN GROUND LEASE WITH BANK OF AMERICA HANDLING ALL EXPENSES AND OPERATING AT THE SITE SINCE 2019
  • PRIME MORSE ROAD RETAIL CORRIDOR NEAR I-71 WITH 30,200+ VPD AND STRONG NATIONAL RETAIL CO-TENANCY
  • 5-YEAR RENT INCREASES DRIVE CASH FLOW AND VALUE IN A HIGHLY AFFLUENT, DENSE COLUMBUS TRADE AREA AT THE I-70/I-71 INTERSECTION
Description:

OHIO BROKER OF RECORD .... MICHAEL HALONEN ... Edge Real Estate Group ... OH BRKP. 2008000166

Faris Lee Investments proudly presents a premier investment opportunity secured by a nationally recognized, investment-grade tenant—Bank of America (NYSE: BAC). With confirmed branch deposits exceeding $6.9 billion per FDIC.gov, this location represents a mission-critical branch within the Bank of America network and underscores the institution’s long-term commitment to the site. Bank of America is the second-largest banking institution in the United States, serving more than 69 million consumer and small business clients, maintaining an A+/Stable S&P credit rating, and carrying a market capitalization of approximately $388 billion (December 2025).
The asset is secured by a long-term NNN ground lease, offering investors a passive, predictable, and management-free income stream. Under this structure, Bank of America is responsible for all building and site obligations—including the roof, HVAC, structure, parking lot, and landscaping—resulting in zero landlord responsibilities. The tenant has operated at this location since 2019, and the lease includes scheduled rent increases every five years, providing inflation protection, enhanced cash flow, and long-term value appreciation.
Founded in 1904, Bank of America has grown into a global financial leader operating in more than 35 countries. The company pioneered industry milestones—including the creation of the first bank credit card in 1958 and the first coast-to-coast banking network in 1991. They expanded through transformational acquisitions such as Security Pacific, NationsBank, Fleet Boston, U.S. Trust, and Merrill Lynch. Today, more than 10% of all American bank deposits are held with Bank of America, reinforcing the tenant’s financial strength, scale, and essential role in the national banking system.
Strategically positioned along the high-traffic Morse Road corridor, the property benefits from over 30,200 vehicles per day and immediate proximity to Interstate 71. The surrounding retail environment features major national brands such as Kroger, Menards, ALDI, McDonald’s, Chipotle, Taco Bell, and Wendy’s. The broader Columbus trade area—Ohio’s capital and largest city—offers a diverse economy in tech, logistics, and e-commerce. Also, home to The Ohio State University with more than 67,000 students, and is strategically located at the intersection of two (2) main US Interstates – I-70 & I-71. Ideally positioned within a strong demographic hub, the location draws from a population of over 348,000 within five miles, supported by an affluent three mile average household income of over $84,000.

As the state capital and largest city in Ohio, Columbus serves as a vibrant economic and cultural hub for the Midwest, distinguished by its rapid growth and diverse economy. With a population exceeding 900,000 residents, it is the 14th-most populous city in the United States and the second-most populous city in the Midwest after Chicago. Unlike many of its regional peers, Columbus is experiencing significant expansion; it recently recorded population growth rates outpacing both the national average and other major Midwest metros. The city’s economy is highly diversified, anchored by major industries such as education, technology, insurance, healthcare, and logistics. It is home to The Ohio State University, one of the nation’s largest universities and a primary employer, alongside other major corporate headquarters including Nationwide Insurance, American Electric Power, and L Brands. This robust economic landscape has fostered a youthful and educated demographic, with a median age of approximately 33 and a strong presence of young professionals.

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