Asset Type: Real Estate
Estate: Fee Simple
Year Built: 1989
Number of Floors: 1
Property Size: 4,664 SF
Property Type: Retail
Occupancy %: 100
Land Area: 0.9 Acres
Number of Units: 1
Investment Highlights
- *Direct Lease Obligation of Truist Bank | No Separate Guaranty Needed, the Bank Is the Obligor
- *$2,950,000 Offering Price | 5.53% Cap Rate on In Place Rent of $163,156
- *40 Years of Banking at This Corner; Branch Operating Here Since 1986
- *Approximately $113.7M in Branch Deposits Per FDIC; the Only Truist Location in Beverly Hills
- *NNN Sale Leaseback in Place Since March 2008; Absolutely Net Return Under Lease Section 3.1
- *First Renewal Option (Twelve Years) Exercised in 2016; Current Term Through September 30, 2028
- *Six 5 Year Renewal Options Extend Potential Occupancy to Approximately 2058
- *Contractual 1.5% Annual Rent Increases Through September 2038; Next Step to $165,603 in April 2027
- *Full Service Drive Through Branch | 4,664 SF on 0.899 Acres | 23 Spaces Plus Recorded Rights to 13 More
- *N Lecanto Highway (CR-491) | Approximately 17,800 Vehicles Per Day
- *Established Retail Node: Walmart Neighborhood Market, ALDI, CVS, Winn-Dixie, Regions Bank
- *Corridor Growth: 1,100+ Homes Proposed or Planned; Tuscany Ranch Approved for 4,900 Homes
- *Sale Subject to Tenant Right of First Offer Under Lease Article XII; Buyer to Verify
Truist Bank | Direct Bank Obligation NNN | 40 Years of Banking at This Corner | Beverly Hills, FL
eXp Commercial is excited to present the sale of a Truist Bank property in Beverly Hills, FL, a well-established location with robust branch deposits.. This property has had a long-term tenant since 2008. This NNN offering includes a 4,664 SF building on a .93-acre lot, strategically positioned along N Lecanto Hwy, a major north-south artery with over 27,500 vehicles per day, providing excellent visibility and access. The lease features fixed annual rent increases of 1.5% and renewal options, making this a solid investment with inflation protection. As a management-free asset, the tenant is responsible for all repairs, maintenance, taxes, and operating expenses, offering investors a hands-off, stable income opportunity.
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