Skip to main content

Bank

Wells Fargo (Dark) (Charlotte, NC MSA)

704 N Cannon Blvd, Kannapolis, NC 28083

Listing Price: $850,000

Cap Rate
7.40%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.4
Gross SF
3,559
Guarantor
Corporate Guarantee
Rentable SF
3,559
Price/Gross SF
$238.83
Lease Type
Absolute Net
Rent Per Square Feet
$17.68

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a dark 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 1.4 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

  • Redevelopment Opportunity - Wells Fargo has Future Rent Obligations Over the Remaining 1.4 Years of Lease Term
  • Excellent Access and Visibility on North Cannon Boulevard (20,780 VPD)
  • Kannapolis is Undergoing Major Changes Through Numerous Development Initiatives
  • Thirty-Minute Drive to Charlotte, NC (Population of 2.7 Million)

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Bank

Wells Fargo (Dark) (Charlotte, NC MSA)

Listing Price: $850,000

Cap Rate
7.40%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.4
Gross SF
3,559
Guarantor
Corporate Guarantee
Rentable SF
3,559
Price/Gross SF
$238.83
Lease Type
Absolute Net
Rent Per Square Feet
$17.68

Investment Highlights

  • Redevelopment Opportunity - Wells Fargo has Future Rent Obligations Over the Remaining 1.4 Years of Lease Term
  • Excellent Access and Visibility on North Cannon Boulevard (20,780 VPD)
  • Kannapolis is Undergoing Major Changes Through Numerous Development Initiatives
  • Thirty-Minute Drive to Charlotte, NC (Population of 2.7 Million)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a dark 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 1.4 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

MM Texture Background
MM Textured Background Lower