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Bank

Regions Bank

450 S Orlando Ave, Maitland, FL 32751

Listing Price: $2,994,716

Cap Rate
9.50%
Tenant Name
Regions Bank
Years Remaining On Lease
3.9
Gross SF
3,820
Guarantor
Corporate Guarantee
Rentable SF
3,820
Price/Gross SF
$783.96
Lease Type
NNN Ground Lease
Rent Per Square Feet
$74.48

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the MIDFLORIDA Credit Union located in Maitland, FL. Built in 2006, the subject property consists of approximately 3,820 rentable square feet and is situated on approximately 1.25 acres of land.

MIDFLORIDA Credit Union is currently subleasing this property from Regions Bank. The subject property is in the 14th year of the original 20-year triple-net (NNN) ground lease, which commenced on November 1, 2005. The current annual rent is $254,016 and is scheduled to increase by twelve percent (12.00%) on November 1, 2020 and every five years thereafter, continuing through the remainder of the base term and each of the four, five -year option periods.

From meager beginnings of a shoebox, MIDFLORIDA has grown to nearly 50 branches in Central Florida, more than 800 employees and assets exceeding $3 billion. Presently, they are servicing more than 300,000 members in the Central Florida area with products and services that rival any local bank, while maintaining the credit union philosophy of excellent personal attention.

Investment Highlights

  • Five Years Remaining on an Original 20-Year Lease
  • Absolute Triple Net (NNN) Ground Lease with Zero Landlord Responsibilities
  • Regions Bank is the Guarantor for the Remainder of the Base Term
  • Attractive Rental Increases of 12 Percent (12.0%) Every 5 Years
  • Four (4), Five-(5) Year Tenant Renewal Options

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

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $2,994,716

Cap Rate
9.50%
Tenant Name
Regions Bank
Years Remaining On Lease
3.9
Gross SF
3,820
Guarantor
Corporate Guarantee
Rentable SF
3,820
Price/Gross SF
$783.96
Lease Type
NNN Ground Lease
Rent Per Square Feet
$74.48

Investment Highlights

  • Five Years Remaining on an Original 20-Year Lease
  • Absolute Triple Net (NNN) Ground Lease with Zero Landlord Responsibilities
  • Regions Bank is the Guarantor for the Remainder of the Base Term
  • Attractive Rental Increases of 12 Percent (12.0%) Every 5 Years
  • Four (4), Five-(5) Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the MIDFLORIDA Credit Union located in Maitland, FL. Built in 2006, the subject property consists of approximately 3,820 rentable square feet and is situated on approximately 1.25 acres of land.

MIDFLORIDA Credit Union is currently subleasing this property from Regions Bank. The subject property is in the 14th year of the original 20-year triple-net (NNN) ground lease, which commenced on November 1, 2005. The current annual rent is $254,016 and is scheduled to increase by twelve percent (12.00%) on November 1, 2020 and every five years thereafter, continuing through the remainder of the base term and each of the four, five -year option periods.

From meager beginnings of a shoebox, MIDFLORIDA has grown to nearly 50 branches in Central Florida, more than 800 employees and assets exceeding $3 billion. Presently, they are servicing more than 300,000 members in the Central Florida area with products and services that rival any local bank, while maintaining the credit union philosophy of excellent personal attention.

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

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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