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Bank

Wells Fargo

704 N Cannon Blvd, Kannapolis, NC 28083

Listing Price: $1,008,000

Cap Rate
6.25%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.9
Gross SF
3,559
Guarantor
Corporate Guarantee
Rentable SF
3,559
Price/Gross SF
$283.23
Lease Type
Absolute Net
Rent Per Square Feet
$17.68

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire an absolute net lease Wells Fargo in Kannapolis, North Carolina. The property consists of a 3,559-square-foot, freestanding building that sits on 1.05 acres of land. There are approximately 1.9 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. This bank branch has been operating continuously at this location since 2003.

Investment Highlights

  • More than 73,998 Residents Within a Five-Mile Radius
  • Kannapolis is Undergoing Major Changes Through Numerous Development Initiatives
  • Thirty Minute Drive to Charlotte, NC (Population of 2.7 Million)
  • Wells Fargo is the 3rd Largest Bank in the U.S. by Total Assets

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Listing Price: $1,008,000

Cap Rate
6.25%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.9
Gross SF
3,559
Guarantor
Corporate Guarantee
Rentable SF
3,559
Price/Gross SF
$283.23
Lease Type
Absolute Net
Rent Per Square Feet
$17.68

Investment Highlights

  • More than 73,998 Residents Within a Five-Mile Radius
  • Kannapolis is Undergoing Major Changes Through Numerous Development Initiatives
  • Thirty Minute Drive to Charlotte, NC (Population of 2.7 Million)
  • Wells Fargo is the 3rd Largest Bank in the U.S. by Total Assets

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire an absolute net lease Wells Fargo in Kannapolis, North Carolina. The property consists of a 3,559-square-foot, freestanding building that sits on 1.05 acres of land. There are approximately 1.9 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. This bank branch has been operating continuously at this location since 2003.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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