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Bank

Truist Bank

931 Rainbow Dr, Gadsden, AL 35901

Listing Price: $1,709,072

Cap Rate
5.50%
Tenant Name
Truist Bank
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
2,254
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.70

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Truist Bank located at 931 Rainbow Drive in Gadsden, Alabama. The site was constructed in 1985 and consists of roughly 2,254 rentable square feet of building space on estimated 0.63-acre parcel of land. Truist Bank is subject to an absolute triple-net (NNN) lease. The annual rent is$93,999 with a 5.32% increase scheduled for the year 2026. There are three (3), five (5)-year renewal options with varying rental increases. In addition, there is one (1), six (6)-month renewal option that can be exercised after either the base term or any option period and will have a 3% rental increase from the previous term.

Investment Highlights

  • Absolute Triple Net (NNN) Lease | 6.9 Years Remaining
  • Attractive Rental Increases
  • Investment Grade Tenant | A Rating (S&P)

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Listing Price: $1,709,072

Cap Rate
5.50%
Tenant Name
Truist Bank
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
2,254
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.70

Investment Highlights

  • Absolute Triple Net (NNN) Lease | 6.9 Years Remaining
  • Attractive Rental Increases
  • Investment Grade Tenant | A Rating (S&P)

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Truist Bank located at 931 Rainbow Drive in Gadsden, Alabama. The site was constructed in 1985 and consists of roughly 2,254 rentable square feet of building space on estimated 0.63-acre parcel of land. Truist Bank is subject to an absolute triple-net (NNN) lease. The annual rent is$93,999 with a 5.32% increase scheduled for the year 2026. There are three (3), five (5)-year renewal options with varying rental increases. In addition, there is one (1), six (6)-month renewal option that can be exercised after either the base term or any option period and will have a 3% rental increase from the previous term.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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