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Bank

Suntrust (Dark)

4386 Cobb Pkwy N, Acworth, GA 30101

Listing Price: $3,277,380

Tenant Name
Suntrust Bank (Dark)
Years Remaining On Lease
4.6
Guarantor
Corporate Guarantee
Rentable SF
4,880
Lease Type
Ground Lease
Rent Per Square Feet
$184.10

Investment Overview

Marcus & Millichap is pleased to present for lease or for sale, a former SunTrust Bank located at 4386 Cobb Parkway N in Acworth, Cobb County, Georgia. The 4,880 SF facility is situated on a 1.62-acre parcel that is equidistant between two signalized corners along Cobb Parkway. The building was constructed in 2007 as a build-to-suit for SunTrust bank, and the tenant signed a 20-year NNN ground lease that commenced after construction was complete. In September of 2021, the tenant provided notice of its intent to vacate the premises in February of 2022, although the tenant is still obligated to pay rent for approximately 4.5 more years. This investment provides $16,637.50 of passive income monthly, which provides a total of $898,425 of remaining in-place income. The subject property is located along a main retail corridor with an abundance of national and retail tenants that assist in driving traffic to the location. McDonald’s, Mellow Mushroom, Dollar Tree, Bank of America, and Sherwin-Williams are all located in the immediate vicinity of the property. The subject property falls within the neighborhood retail commercial district, which provides a flexible range of uses (by right) including but not limited to: banks, full-service gas stations, carwashes, casual dining establishments, quick service restaurants, and professional offices. Additionally, medical and dental offices are permitted under special exemptions. This is an ideal opportunity for the opportunistic investor to add value by re-tenanting or re-positioning the facility. Additionally, it is also a great opportunity for the end-user who wishes to cover a portion of the expenses related to buildout with the remaining in-place income.

Investment Highlights

  • Visibility | Location on Cobb Pkwy is equidistant between two signalized corners | Steady flow of traffic past the building's ingress on Cobb Pkwy | Property surrounded by retail & office users
  • Location | Main retail corridor with an abundance of national and regional tenants to assist in driving traffic to the subject property
  • Redevelopment Potential | Zoned Neighborhood Retail Commercial | Flexible range in potential uses including bank, gas station, car wash, casual dining, QSR, professional office (by right) & MOB

Exclusively Listed By

Listing Price: $3,277,380

Tenant Name
Suntrust Bank (Dark)
Years Remaining On Lease
4.6
Guarantor
Corporate Guarantee
Rentable SF
4,880
Lease Type
Ground Lease
Rent Per Square Feet
$184.10

Investment Highlights

  • Visibility | Location on Cobb Pkwy is equidistant between two signalized corners | Steady flow of traffic past the building's ingress on Cobb Pkwy | Property surrounded by retail & office users
  • Location | Main retail corridor with an abundance of national and regional tenants to assist in driving traffic to the subject property
  • Redevelopment Potential | Zoned Neighborhood Retail Commercial | Flexible range in potential uses including bank, gas station, car wash, casual dining, QSR, professional office (by right) & MOB

Investment Overview

Marcus & Millichap is pleased to present for lease or for sale, a former SunTrust Bank located at 4386 Cobb Parkway N in Acworth, Cobb County, Georgia. The 4,880 SF facility is situated on a 1.62-acre parcel that is equidistant between two signalized corners along Cobb Parkway. The building was constructed in 2007 as a build-to-suit for SunTrust bank, and the tenant signed a 20-year NNN ground lease that commenced after construction was complete. In September of 2021, the tenant provided notice of its intent to vacate the premises in February of 2022, although the tenant is still obligated to pay rent for approximately 4.5 more years. This investment provides $16,637.50 of passive income monthly, which provides a total of $898,425 of remaining in-place income. The subject property is located along a main retail corridor with an abundance of national and retail tenants that assist in driving traffic to the location. McDonald’s, Mellow Mushroom, Dollar Tree, Bank of America, and Sherwin-Williams are all located in the immediate vicinity of the property. The subject property falls within the neighborhood retail commercial district, which provides a flexible range of uses (by right) including but not limited to: banks, full-service gas stations, carwashes, casual dining establishments, quick service restaurants, and professional offices. Additionally, medical and dental offices are permitted under special exemptions. This is an ideal opportunity for the opportunistic investor to add value by re-tenanting or re-positioning the facility. Additionally, it is also a great opportunity for the end-user who wishes to cover a portion of the expenses related to buildout with the remaining in-place income.

Exclusively Listed By

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