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Views: 122 DOM: 141 Updated: 10.31.24 Posted: 08.08.24 Status: Active

Summary

Price $1,333,000
Built/Renov 1974/1998
Tenant Liberty Bank
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corporate
Size/SF 6,000
Lease Start 06-01-2019
#Units 56
Price/SF $222.17
Expiration 05-31-2034
Tenant Type Bank/Financial
NOI $90,000
R. Term 9.5
Ownership Fee Simple
Rent/SF $15.00
Increases 0.0%/0/yrs
Pop 5Mi 121,297
Lot/AC 2.34
Options 2/5yrs/5%
AHHI 5Mi $75,238

Lease Highlights

  • Liberty Bank has been operating at this location since 1998
  • The tenant has 9+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Large deposits at this location of over $120M
  • Tenant reimburses for its share of operating expenses
  • Corporate guaranteed lease

Location Description

Liberty Bank is strategically located on Church Street, occupying the ground floor of a 23,000 sq ft office building situated on 2.34 acres with 80 parking spaces. The property features four drive-up teller stations and a walk-up ATM. Additionally, it is situated in a densely developed area near the center of town. The surrounding neighborhood includes a mixture of commercial and residential...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Liberty Bank
  • Guarantor:Corporate
  • Company:Liberty Bank
  • # Units:56
  • Stock:Private

About Tenant

Liberty Bank is a community-focused financial institution offering a range of services, including personal and business banking, credit cards, loans (auto, mortgage, and personal), deposits, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 15,147 46,793 125,554
2024 Total Population : 15,319 47,206 125,721
2024 Employed Civilian Pop : 8,595 25,904 61,894
2024 Total Businesses : 534 1,317 4,960
2024 Average Household Income : $ 116,392 $ 117,834 $ 104,363
2024 Total Consumer Spending : $ 656 M $ 1949 M $ 4597 M
2024 Median Age : 39 41 40
2024 Total Households : 6,439 18,917 50,179
2024 Pop Age 25+: Bachelor's Degree : 1,736 5,604 13,219
2024 Average Home Value : $ 326,544 $ 323,258 $ 340,395
*ESRI data is presented for informational purposes only

Listing Broker

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