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Views: 85 Updated: 10.24.23 Posted: 06.19.23 Status: Inactive

Summary

Price $2,587,000
Built/Renov 1985
Tenant Regions Bank
Cap Rate 5.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,834
Lease Start 06-15-2005
#Units 1,286
Price/SF $238.79
Expiration 06-30-2030
Tenant Type Bank/Financial
NOI $138,385
R. Term 5.7
Ownership Fee Simple
Rent/SF $12.77
Increases 3.0%/1/yrs
Pop 5Mi 41,501
Lot/AC 0.53
Options 3/5yrs/3%
AHHI 5Mi $70,717

Lease Highlights

  • Regions Bank has been operating in this location since 2005
  • Tenant has 7 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 3% annual rental increases throughout the initial term and during each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Regions Financial Corporation (NYSE: RF)

Location Description

Regions Bank is located at the signalized, hard corner intersection of State highway 6 (West Main Street) and State Highway 145 (South Green Street) averaging a combined 36,000 vehicles per day. The building features a unique footprint with 3 drive-thru ATMs, providing ease and convenience for customers. The property benefits from significant street frontage and is equipped with a large...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Regions Bank
  • Guarantor:Corp T and Rated
  • Company:Regions Financial Corporation
  • # Units:1,286
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NYSE: RF

About Tenant

Founded in 1971, Regions Bank is a subsidiary of Regions Financial Corporation. The corporation provides retail banking and commercial banking , trust, stockbroker , and mortgage...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,974 23,948 39,772
2023 Total Population : 3,036 24,214 40,058
2023 Employed Civilian Pop : 1,536 11,035 18,587
2023 Total Businesses : 859 2,046 2,955
2023 Average Household Income : $ 54,493 $ 78,147 $ 81,392
2023 Total Consumer Spending : $ 63 M $ 675 M $ 1171 M
2023 Median Age : 38 39 39
2023 Total Households : 1,329 9,926 16,512
2023 Pop Age 25+: Bachelor's Degree : 257 3,506 5,938
2023 Average Home Value : $ 229,167 $ 229,128 $ 227,170
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Main Street N Green St 2018 12,000 0.07 mi
Magazine Street S Broadway St 2018 890 0.09 mi
Magazine Street S Green St 2018 890 0.11 mi
North Church Street W Jefferson St 2018 1,500 0.14 mi
West Jefferson Street N Broadway St 2018 3,000 0.14 mi
South Front Street Magazine St 2018 3,000 0.21 mi
North Front Street Ct St 2018 5,200 0.22 mi
Magazine Street Frisco Ln 2018 890 0.23 mi
South Green Street Maple St 2018 4,100 0.23 mi
Clark Boulevard Clark Blvd 2018 1,400 0.25 mi

Listing Broker

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