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Views: 55 DOM: 59 Updated: 07.19.24 Posted: 07.19.24 Status: Active

Summary

Price $4,769,000
Built/Renov 1982/2019
Tenant Truist Bank
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,465
Lease Start 12-10-2007
#Units 2,123
Price/SF $872.64
Expiration 12-31-2032
Tenant Type Bank/Financial
NOI $238,449
R. Term 8.3
Ownership Fee Simple
Rent/SF $43.63
Increases 1.5%/1/yrs
Pop 5Mi 206,956
Lot/AC 1.38
Options 5/5yrs/1.5%
AHHI 5Mi $100,984

Lease Highlights

  • Trust Bank has 8+ years remaining on the current lease term with 5 (%-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Location reports $212M in Deposits
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Truist Bank is strategically located at the signalized, hard corner intersection of Red Bug Lake Rd and Tuskawilla Road, with access to a substantial combined daily traffic count of 70,640 vehicles. The property is surrounded by well-known national tenants such as Burger King, Wells Fargo, CVS Pharmacy, Starbucks, Jersey Mike's, and more. Key community institutions in the vicinity include the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Truist Bank
  • Guarantor:Corp T and Rated
  • Company:Truist Financial Corporation
  • # Units:2,123
  • Tenant S&P: A-
  • Moody’s: A3
  • Stock: NYSE: TFC

About 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...


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Listing Broker

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