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Bank

Regions Bank

650 N Congress Ave, Delray Beach, FL 33445

Listing Price: $6,351,000

Cap Rate
6.50%
Tenant Name
Regions Bank
Years Remaining On Lease
2.1
Guarantor
Corporate Guarantee
Rentable SF
9,798
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.13

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Regions Bank located in Delray Beach, FL. This location offers a new corporate guaranteed, triple net (NNN) lease with 2.5 percent annual rent increases. This property includes drive-thru lanes. This is a long-term tenant, who has been in place for more than 40 years showing strong commitment to the site. The subject property is located at the signalized intersection of Congress Avenue and Lake Ida Road with access and visibility to nearly 60,000 vehicles daily, and directly off Interstate 95 with a traffic count of more than 207,000 vehicles daily. Congress Avenue is now a massive hot spot for new Delray Beach housing — with more than 1,500 apartments and townhomes now in the works along the corridor. This location offers a massive population density at nearly 234,000 residents in five miles average, with average household income over $98,000 within five miles. This Regions Bank is located less than one mile from Aura Delray Beach, a 276-unit luxury apartment complex, currently under construction along Congress Ave, and 1.5 miles from Sundy Village – which is currently being developed into a mixed-use, outdoor centric, campus community totaling approximately 129,000 gross sf of lifestyle retail, amenities, and 267 subterranean parking spaces. Just 2.5 miles from the property is Downtown Delray Beach, one of the top 5 downtown shopping districts in the U.S., filled with an exciting collection of restaurants, specialty shops and hotels. The subject property is located just five miles from Boynton Beach Mall, anchored by Dillard’s, JCPenney, Macy’s and Dick’s Sporting Goods. Other surrounding national retailers include Walmart Supercenter, The Home Depot, Publix, Bed Bath & Beyond, Ross, Office Depot, Planet Fitness, Dollar General, Dollar Tree, 7-Eleven, AutoZone, O’Reilly Auto Parts, Tires Plus, McDonald’s, Taco Bell, Burger King, Chipotle, Pizza Hut, Dunkin Donuts, Chili’s Bar & Grill, Chick-fil-A, LongHorn Steakhouse, Panera Bread, Wells Fargo, Walgreens, CVS and many more. BUYER'S BROKER BONUS OF $15,000. CONTACT LISTING AGENT FOR DETAILS.

Investment Highlights

  • Corporate Guaranteed, Triple Net (NNN) Lease with 2.5 Percent Annual Rent Increases
  • Long-Term Tenant, In Place for More Than 40 Years Showing Strong Commitment to the Site
  • No Landlord Responsibilities
  • Property Includes Drive-Thru Lanes
  • Located at the Signalized Intersection of Congress Avenue and Lake Ida Road with Access and Visibility to Nearly 60,000 Vehicles Daily
  • Directly Off Interstate 95 With a Traffic Count of More Than 207,000 Vehicles Daily
  • Massive Population Density at Nearly 234,000 Residents in Five Miles
  • Surrounding National Retailers Include Walmart Supercenter, The Home Depot, Publix, Bed Bath & Beyond, Ross, Office Depot, Planet Fitness, Dollar General, Dollar Tree, 7-Eleven, AutoZone, O'Reilly Auto Parts, Tires Plus, McDonald's, Taco Bell, Burger King, Chipotle, Pizza Hut, Dunkin Donuts, Chili's Bar & Grill, Chick-fil-A, LongHorn Steakhouse, Panera Bread, Wells Fargo, Walgreens, CVS and Many More

Exclusively Listed By

Financing By

Listing Price: $6,351,000

Cap Rate
6.50%
Tenant Name
Regions Bank
Years Remaining On Lease
2.1
Guarantor
Corporate Guarantee
Rentable SF
9,798
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.13

Investment Highlights

  • Corporate Guaranteed, Triple Net (NNN) Lease with 2.5 Percent Annual Rent Increases
  • Long-Term Tenant, In Place for More Than 40 Years Showing Strong Commitment to the Site
  • No Landlord Responsibilities
  • Property Includes Drive-Thru Lanes
  • Located at the Signalized Intersection of Congress Avenue and Lake Ida Road with Access and Visibility to Nearly 60,000 Vehicles Daily
  • Directly Off Interstate 95 With a Traffic Count of More Than 207,000 Vehicles Daily
  • Massive Population Density at Nearly 234,000 Residents in Five Miles
  • Surrounding National Retailers Include Walmart Supercenter, The Home Depot, Publix, Bed Bath & Beyond, Ross, Office Depot, Planet Fitness, Dollar General, Dollar Tree, 7-Eleven, AutoZone, O'Reilly Auto Parts, Tires Plus, McDonald's, Taco Bell, Burger King, Chipotle, Pizza Hut, Dunkin Donuts, Chili's Bar & Grill, Chick-fil-A, LongHorn Steakhouse, Panera Bread, Wells Fargo, Walgreens, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Regions Bank located in Delray Beach, FL. This location offers a new corporate guaranteed, triple net (NNN) lease with 2.5 percent annual rent increases. This property includes drive-thru lanes. This is a long-term tenant, who has been in place for more than 40 years showing strong commitment to the site. The subject property is located at the signalized intersection of Congress Avenue and Lake Ida Road with access and visibility to nearly 60,000 vehicles daily, and directly off Interstate 95 with a traffic count of more than 207,000 vehicles daily. Congress Avenue is now a massive hot spot for new Delray Beach housing — with more than 1,500 apartments and townhomes now in the works along the corridor. This location offers a massive population density at nearly 234,000 residents in five miles average, with average household income over $98,000 within five miles. This Regions Bank is located less than one mile from Aura Delray Beach, a 276-unit luxury apartment complex, currently under construction along Congress Ave, and 1.5 miles from Sundy Village – which is currently being developed into a mixed-use, outdoor centric, campus community totaling approximately 129,000 gross sf of lifestyle retail, amenities, and 267 subterranean parking spaces. Just 2.5 miles from the property is Downtown Delray Beach, one of the top 5 downtown shopping districts in the U.S., filled with an exciting collection of restaurants, specialty shops and hotels. The subject property is located just five miles from Boynton Beach Mall, anchored by Dillard’s, JCPenney, Macy’s and Dick’s Sporting Goods. Other surrounding national retailers include Walmart Supercenter, The Home Depot, Publix, Bed Bath & Beyond, Ross, Office Depot, Planet Fitness, Dollar General, Dollar Tree, 7-Eleven, AutoZone, O’Reilly Auto Parts, Tires Plus, McDonald’s, Taco Bell, Burger King, Chipotle, Pizza Hut, Dunkin Donuts, Chili’s Bar & Grill, Chick-fil-A, LongHorn Steakhouse, Panera Bread, Wells Fargo, Walgreens, CVS and many more. BUYER'S BROKER BONUS OF $15,000. CONTACT LISTING AGENT FOR DETAILS.

Exclusively Listed By

Financing By

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