Pinnacle Bank - Albemarle, NC
103 North 2nd Street, Albemarle, NC, 28001, US
SEK 50,576,000 | 1,028 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in Pinnacle Bank located at 102 South Street in Locust, 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.
Locust, a small rural city spanning Stanly and Cabarrus counties, has emerged as one of North Carolina's fastest-growing municipalities, driven by urban sprawl from the nearby Charlotte metropolitan area. Pinnacle Bank is positioned just off W Main Street, which serves as the town's primary thoroughfare and is known as "the Crossroads" due to its role as a major travel route. This strategic location provides direct access to 28,500 vehicles per day.
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Attributes
Asking price
SEK 61,975,000
Cap rate
6%
NOI
SEK 3,725,000
WAULT
12.1 years
Building area net
1,237 m²
Land area gross
0.33 ha
Media
Investment Highlights
• Investment grade tenant with Baa2 stable outlook rating
• Approximately 12.1 years of primary lease term remaining with 1.9% annual rent escalations
• $91M in deposits in 2024 and one of only two locations in Stanly County
• Locust is one of North Carolina's fastest growing municipalities
• Operates under absolute NNN lease structure with zero landlord responsibilities
• Merger with Synovus creates largest bank holding company in Georgia and largest bank in Tennessee
• $98K average household income within a 5-mile radius
• More than 500+ new housing dwellings added over the past 3 years
• Positioned along Locust's primary thoroughfare with direct visibility to 28,500+ VPD
Contact brokers
Pinnacle Bank - Locust, NC (0 Properties)
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Last updated
22 Sep 2025
