Truist Bank
Greensboro, NC
Key Details
| Price: | $1,148,171 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $80,372 |
| Address: | 1601 South Elm-Eugene Street, Greensboro, North Carolina 27406 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 23 Years |
|---|---|
| Lease Commencement: | 1/1/2007 |
| Lease Expiration: | 12/31/2029 |
| Lease Term Remaining: | 4.8 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 0.56 Acres |
| Building Size: | 2,283 SF |
| Year Built: | 1972 |
| Year Renovated: | 1990 |
NNN Pro is pleased to present the exclusive listing for a Truist Bank located at 1601 South Elm-Eugene Street, Greensboro, North Carolina 27406. The site consists of roughly 2283 rentable square feet of building space on an estimated 0.56-acre parcel of land. This Truist Bank is subject to a 23-year Triple Net (NNN) lease, which commenced 1/1/2007. The current annual rent is $80,372 and has scheduled increases of 1.50% Annually.
About the Investment
- Absolute Triple Net (NNN) Lease with ±5.5 Years Remaining | Zero LL Responsibilities
- 1.5% Annual Increases in Rent
- Strong Site Commitment | Tenant on Site since 2007 | High Deposits | Low Rent
- Five (5), Five (5)-Year Tenant Renewal Options Remaining, Bringing the Potential Lease Term to 30+ Years
About the Location
- Dense Retail Corridor | Home Depot, McDonald’s, KFC, Walgreens, Subway, AutoZone, Domino’s, Burger King, Taco Bell, CVS, and Many More
- Strong Demographics | Population Exceeds 154,000 Individuals Within a Five-Mile Radius
- Dominant Market Share | Truist Bank Operates 280+ Locations in North Carolina
- Strong Real Estate Fundamentals | Signalized Hard Corner Lot with Double Drive-Thru
- Piedmont Triad International Airport| Located Approximately Ten-Miles Away |Serves 2 Million+ Passengers Per Year
About the Tenant/Brand
- Truist Formed in 2019 with Merger of SunTrust and BB&T | Over 275 Combined Years of Operating History
- Over 2,780 Branches in Fifteen States and Washington D.C. | Actively Seeking Expansion
- Total Assets Under Management over $500 Billion as of September 2023
- 6th Largest Bank in the United States
- 7th Largest Insurance Broker in the World | Over $2.27 Billion in Revenue
- Over 50,000 Employees
Key Details
| Price: | $1,148,171 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $80,372 |
| Address: | 1601 South Elm-Eugene Street, Greensboro, North Carolina 27406 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 23 Years |
|---|---|
| Lease Commencement: | 1/1/2007 |
| Lease Expiration: | 12/31/2029 |
| Lease Term Remaining: | 4.8 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 0.56 Acres |
| Building Size: | 2,283 SF |
| Year Built: | 1972 |
| Year Renovated: | 1990 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Judson Kauffman
jkauffman@nnnpro.com
License: NY: 10401296108
Hannan Ben Yosef
hbenyosef@nnnpro.com
License: NY: 10401358655
Matt Sorace
msorace@nnnpro.com
License: NY: 10401367850
Broker of Record
Brian Brockman
Bang Realty-North Carolina, Inc
License: 298998
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.