United Bank
Absoute NNN | 6.75% CAP | 7,878 SF
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PROPERTY Summary
Absolute NNN lease with 10% bumps at option periods guaranteed by United Bank through 9/30/2028. United Bank has approximately $30 billion in assets. Prior to being acquired by United Bank, this branch served as a consolidated location of two First South Banks that were located in Kinston.
The property is situated on 1.28 acres and is positioned on a major corridor with 18,500 cars per day passing the site.
The building is located in Downtown Kinston with numerous walkable amenities nearby including restaurants, breweries, and historical attractions.
Investment highlights
Offering Summary
Address: 1900 West Vernon Ave., Kinston, NC 28405
Occupancy: 100%, Single-tenant
Year Built: 1977
Square Feet: 7,878 SF
Acres: 1.28 Acres
Current Use: Bank/Office
Zoning: B-1
NOI: $95,000.00
Options: Two (2) five (5) year options with 10% bumps
Absolute NNN: No LL Responsibilities
Sale Price: $1,357,000 (7.0% CAP)
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