Pinnacle Bank – Asheboro, NC (N Fayetteville St)

175 North Fayetteville Street, Asheboro, NC, 27203, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in Pinnacle Bank located at 175 North Fayetteville Street, in Asheboro, NC (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.1 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.

This unique opportunity allows investors the ability to acquire long-term passive income from an investment grade bank tenant with a significant deposit base from its local community.

NC Broker of Record: Pete Pitroff - NC License #: 163984

Limited Nonresident Commercial Real Estate Broker or Salesperson: Alex Sharrin, Alex Geanakos

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Attributes

Asking price

€1,882,000

Cap rate

NOI

€113,000

WAULT

12 years

Building area net

418 m²

Media

Investment Highlights

Tenancy: The property is leased to Pinnacle Financial Partners, which has an investment-grade rating of Baa2 with a stable outlook.
Lease Term: Approximately 12.1 years remain on the primary lease term.
New Developments: Two new developments are underway, which will add over 700 new residences to the area.
Rent Escalations: The lease includes 1.9% annual rent increases.
Daytime Population: The area experiences a 53% increase in population during the daytime.
Corporate Strength: A merger with Synovus has made Pinnacle the largest bank holding company in Georgia and the largest bank in Tennessee.
Branch Deposits: The branch is projected to have $225 million in deposits in 2025.
Lease Structure: The lease is Absolute NNN, indicating zero landlord responsibilities.
Retail Proximity: The location is near two major shopping centers that attract over 9.1 million annual visits.
Accessibility: The property is situated on East Dixie Road, which provides direct accessibility to 54,500 vehicles per day (VPD).