Sold Subscription Required
| Price $2,226,087 | Built/Renov 1977 | Tenant Truist Bank (GL) |
| Cap Rate 5.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
2,356
| Lease Start
07-05-1977
| #Units
2,123
|
| Price/SF $944.86 | Expiration
11-30-2032
| Tenant Type Bank/Financial |
| NOI $128,000 | R. Term 8.2 | Ownership Ground Lease |
| Rent/SF
$54.33
| Increases 10.0%/6/yrs | Pop 5Mi 322,244 |
| Lot/AC 0.60 | Options 1/5yrs | AHHI 5Mi $98,924 |
| | |
Truist Bank is strategically located on Kempsville Road, a major retail hub, with access to 32,000 vehicles passing by daily. Within a 1-mile radius, there are over 800,000 square feet of retail space, featuring well-known national tenants such as TJ Maxx, Kroger, Starbucks, Verizon, and Chase. The 5-mile trade area is supported by a population of 322,244 residents with an average household...
...In location for years
Dense retail corridor
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant
Truist Financial Corporation (NYSE: TFC) is an American bank holding company and a top 10 U.S. commercial bank by assets, as of August 2023. The company’s bank branches offer a wide range of...
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 10,605 | 132,429 | 326,368 |
| 2023 Total Population : | 10,841 | 131,340 | 324,382 |
| 2023 Employed Civilian Pop : | 5,825 | 67,243 | 165,381 |
| 2023 Total Businesses : | 366 | 5,595 | 12,036 |
| 2023 Average Household Income : | $ 130,113 | $ 100,729 | $ 99,544 |
| 2023 Total Consumer Spending : | $ 443 M | $ 4469 M | $ 10840 M |
| 2023 Median Age : | 47 | 38 | 37 |
| 2023 Total Households : | 4,047 | 51,539 | 126,464 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,631 | 23,752 | 52,194 |
| 2023 Average Home Value : | $ 393,028 | $ 355,807 | $ 373,247 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Providence Rd | Meighan Dr | 2016 | 14,000 | 0.15 mi |
| Providence Road | Meighan Dr | 2018 | 14,000 | 0.15 mi |
| Providence Road | Meighan Dr | 2018 | 14,000 | 0.15 mi |
| Providence Road | Meighan Dr | 2020 | 12,000 | 0.15 mi |
| Kempsville Road | Milburne Dr | 2018 | 32,000 | 0.33 mi |
| Kempsville Road | Chatmoss Dr | 2021 | 32,000 | 0.34 mi |
| Kempsville Road | Kempsville Rd | 2021 | 32,000 | 0.35 mi |
| Providence Rd | Walton Dr | 2016 | 21,000 | 0.39 mi |
| Kempsville Rd | Milburne Dr | 2016 | 29,000 | 0.41 mi |
| Churchill Dr | Locke Ln | 2016 | 4,717 | 0.49 mi |
Burnsville, MN
Cap Rate 4.75%
Lease Abs NNN
R. Term 2.60 yrs
Size/SF 4,489
Marana, AZ
Cap Rate 5.50%
Lease Abs NNN
R. Term 7.20 yrs
Size/SF 4,692
New London, NH
Cap Rate 6.75%
Lease Abs NNN
R. Term 15.20 yrs
Size/SF 5,600
Burnsville, MN
Cap Rate 4.75%
Lease Abs NNN
R. Term 2.60 yrs
Size/SF 4,489
Sauk City, WI
Cap Rate 6.22%
Lease Abs NNN
R. Term 2.20 yrs
Size/SF 6,543
Clarkston, MI
Cap Rate 6.00%
Lease Abs NNN
R. Term 9.90 yrs
Size/SF 4,397
Wendell, NC
Cap Rate 5.00%
Lease Abs NNN
R. Term 19.80 yrs
Size/SF 2,700
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
