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Opportunity Zone
Truist Bank
Retail | 7.00% CAP | 2,283 SF
Listing Contacts
See All (4)
License: NY 49KU1129178
License: NY 10401358655
Active
Address
1601 S Elm-Eugene St, Greensboro, NC 27406
Show on MapDate Added
Jun 18, 2024
Days on Market
271 days
Time Since Last Update
72 days
Details
Property TypeRetail
SubtypeBank
Investment TypeNet Lease
Investment Sub TypeBank
Lease TypeNNN
Tenant CreditCorporate Guarantee
TenancySingle
Brand/TenantTruist Bank
Lease Term23 years
Lease Commencement01/01/2007
Lease Expiration12/31/2029
Remaining Term4.8 years
Square Footage2,283
Price/Sq Ft$502.92
Cap Rate7.00%
Occupancy100%
NOI$80,372
Year Built1972
Year Renovated1990
Lot Size (acres)0.56
OwnershipFee Simple
Marketing Description
NNN Pro Group is pleased to present the exclusive listing for a Truist Bank located at 1601 S Elm-Eugene St, Greensboro, NC 27406. The site consists of roughly 2,300 rentable square feet of building space on estimated 0.56-acre parcel of land. This Truist Bank is subject to a ±5.5-year absolute triple-net (NNN) lease, which commenced January 1st, 2007. The current annual rent is $80,372 and is scheduled to increase by 1.50% annually throughout the current term and in each of the next 2, 5-year renewal options. The three (3) succeeding renewal options are subject to a Fair Market Value (FMV) increase.
Investment Highlights
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Absolute Triple Net (NNN) Lease with ±5.5 Years Remaining | Zero LL Responsibilities
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1.5% Annual Increases in Rent
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Strong Site Commitment | Tenant on Site since 2007 | High Deposits | Low Rent
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Five (5), Five (5)-Year Tenant Renewal Options Remaining, Bringing the Potential Lease Term to 30+ Years
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$80,372.00
$6,697.67/mo
Valuation Metrics
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0
DSCR
7%
Cap Rate
7%
ROI
Property History
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Due Diligence
Listing Contacts
See All (4)- License: NY 49KU1129178
- License: NY 10401358655
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Broker Information
Broker Name
Brian Brockman
Broker License
298998
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