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Bank

Truist Bank

1908 Old Charlotte Hwy, Monroe, NC 28110

Listing Price: $1,675,000

Cap Rate
5.50%
Tenant Name
Truist Bank
Years Remaining On Lease
7.3
Guarantor
Corporate Guarantee
Rentable SF
2,535
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.33

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Truist Bank located at 1908 Old Charlotte Hwy in Monroe, North Carolina. The site constructed in 1981, consists of roughly 2,535 rentable square feet of building space on estimated 1.56 acre parcel of land. Truist Bank is subject to an absolute triple-net (NNN) lease. The annual rent is$92,109 with annual one and a half (1.50%) rental increases. In 2016, Truist Bank executed its renewal options early & extended the term of the lease by 12 years. There are six (6), five (5)-year tenant renewal options remaining.

Investment Highlights

  • Absolute Triple Net (NNN) Lease | 7.4 Years Remaining
  • Attractive 1.5% Annual Rental Increases
  • Investment Grade Tenant | A- Rating (S&P)
  • Six (6), Five (5)-Year Tenant Renewal Options
  • Corporate Tenant | Corporate Guarantee
  • In 2016, Truist Bank Executed its Renewal Option Early & Extended the Term of the Lease by 12 Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Listing Price: $1,675,000

Cap Rate
5.50%
Tenant Name
Truist Bank
Years Remaining On Lease
7.3
Guarantor
Corporate Guarantee
Rentable SF
2,535
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.33

Investment Highlights

  • Absolute Triple Net (NNN) Lease | 7.4 Years Remaining
  • Attractive 1.5% Annual Rental Increases
  • Investment Grade Tenant | A- Rating (S&P)
  • Six (6), Five (5)-Year Tenant Renewal Options
  • Corporate Tenant | Corporate Guarantee
  • In 2016, Truist Bank Executed its Renewal Option Early & Extended the Term of the Lease by 12 Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Truist Bank located at 1908 Old Charlotte Hwy in Monroe, North Carolina. The site constructed in 1981, consists of roughly 2,535 rentable square feet of building space on estimated 1.56 acre parcel of land. Truist Bank is subject to an absolute triple-net (NNN) lease. The annual rent is$92,109 with annual one and a half (1.50%) rental increases. In 2016, Truist Bank executed its renewal options early & extended the term of the lease by 12 years. There are six (6), five (5)-year tenant renewal options remaining.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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