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Bank

BB&T (Truist) Bank NNN Lease 3% Annual Increases

1300 Palm Coast Pkwy SW, Palm Coast, FL 32137

Listing Price: $6,471,557

Cap Rate
6.50%
Tenant Name
BB&T
Years Remaining On Lease
4.4
Gross SF
4,341
Guarantor
Corporate Guarantee
Rentable SF
4,341
Price/Gross SF
$1,490.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$96.90

Investment Overview

Marcus & Millichap is pleased to present for sale this BB&T Bank
located in Palm Coast, Florida. This is a fee simple absolute NNN
Lease has about Five years remaining on the base term and Four
five-year Extension Options to renew. This lease has Three percent
increases in the base rent every year during the base term of the
lease and the renewal periods. This property has visibility to an
average of 44,500 vehicles daily with its location on busy Palm
Coast Highway SW with the convenience of Four Drive-up ATMs. In
2020, this branch boasted deposits exceeding $48 Million. This bank
is located on an outparcel to Palm Coast Corners, which is a large
170,000+ square foot shopping plaza with Major Anchors Winn-
Dixie and Bealls. Adjacent to this property is a 24-hour Walmart
Supercenter and Home Depot. With its location along busy Palm
Coast Highway SW, the property is nearby Publix Super Market, CVS
Pharmacy, Anytime Fitness, and Auto Zone among others. This site
has the advantage of direct on/off ramp access to I-95 (46,000+
Vehicles per day).
Branch Banking and Trust (BB&T) is the Corporate Guarantee behind
this lease with 2,049 branches in 15 states and Washington, D.C.
and currently one of the largest banks in the United States according
to assets.
Palm Coast is a city in Flagler County, Florida with a population
of over 89,800. It is the most populous city in Flagler County and
is part of the Deltona-Dayton Beach-Ormond Beach Metropolitan
Statistical Area which is the 88th largest MSA in the U.S. with a
population of over 600,756. The economy of Palm Coast is driven
by 30 mid-size businesses with Palm Coast Data Company being
the largest and employing over 1,000 people. This area has had
one of the highest rates of population growth since 1990, with Palm
Coast, Florida more than doubling in population from 32,832 to
89,900 in 10 years. Palm Coast is a bedroom community for St.
Augustine(25 miles to the North) and Daytona Beach(30 miles to
the South). Interstate 95 crosses Palm Coast from north to South.

Investment Highlights

  • BB&T (Truist NYSE: TFC) Absolute NNN Fee Simple Lease
  • Three Percent Annual Increases in Rent Every 5 Years in the Base term and 4 Extension
  • Strong Corporate Guarantee from BBT (Truist NYSE: TFC) with 2,049 Branches in the Uni
  • Outparcel to Palm Coast Corners (Bealls &Winn-Dixie) along Palm Coast Parkway (44,500
  • 24 Hour Walmart Supercenter and Home Depot Adjacent to the Property
  • Nearby Retailers include Lowes, Kohls, Belk, Publix, CVS, Anytime Fitness, Autozone

Exclusively Listed By

Bank

BB&T (Truist) Bank NNN Lease 3% Annual Increases

Listing Price: $6,471,557

Cap Rate
6.50%
Tenant Name
BB&T
Years Remaining On Lease
4.4
Gross SF
4,341
Guarantor
Corporate Guarantee
Rentable SF
4,341
Price/Gross SF
$1,490.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$96.90

Investment Highlights

  • BB&T (Truist NYSE: TFC) Absolute NNN Fee Simple Lease
  • Three Percent Annual Increases in Rent Every 5 Years in the Base term and 4 Extension
  • Strong Corporate Guarantee from BBT (Truist NYSE: TFC) with 2,049 Branches in the Uni
  • Outparcel to Palm Coast Corners (Bealls &Winn-Dixie) along Palm Coast Parkway (44,500
  • 24 Hour Walmart Supercenter and Home Depot Adjacent to the Property
  • Nearby Retailers include Lowes, Kohls, Belk, Publix, CVS, Anytime Fitness, Autozone

Investment Overview

Marcus & Millichap is pleased to present for sale this BB&T Bank
located in Palm Coast, Florida. This is a fee simple absolute NNN
Lease has about Five years remaining on the base term and Four
five-year Extension Options to renew. This lease has Three percent
increases in the base rent every year during the base term of the
lease and the renewal periods. This property has visibility to an
average of 44,500 vehicles daily with its location on busy Palm
Coast Highway SW with the convenience of Four Drive-up ATMs. In
2020, this branch boasted deposits exceeding $48 Million. This bank
is located on an outparcel to Palm Coast Corners, which is a large
170,000+ square foot shopping plaza with Major Anchors Winn-
Dixie and Bealls. Adjacent to this property is a 24-hour Walmart
Supercenter and Home Depot. With its location along busy Palm
Coast Highway SW, the property is nearby Publix Super Market, CVS
Pharmacy, Anytime Fitness, and Auto Zone among others. This site
has the advantage of direct on/off ramp access to I-95 (46,000+
Vehicles per day).
Branch Banking and Trust (BB&T) is the Corporate Guarantee behind
this lease with 2,049 branches in 15 states and Washington, D.C.
and currently one of the largest banks in the United States according
to assets.
Palm Coast is a city in Flagler County, Florida with a population
of over 89,800. It is the most populous city in Flagler County and
is part of the Deltona-Dayton Beach-Ormond Beach Metropolitan
Statistical Area which is the 88th largest MSA in the U.S. with a
population of over 600,756. The economy of Palm Coast is driven
by 30 mid-size businesses with Palm Coast Data Company being
the largest and employing over 1,000 people. This area has had
one of the highest rates of population growth since 1990, with Palm
Coast, Florida more than doubling in population from 32,832 to
89,900 in 10 years. Palm Coast is a bedroom community for St.
Augustine(25 miles to the North) and Daytona Beach(30 miles to
the South). Interstate 95 crosses Palm Coast from north to South.

Exclusively Listed By

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