Fifth Third Bank - Delray Beach, FL
5026 West Atlantic Avenue, Delray Beach, FL, 33484, US
$3,445,000 | 1,900 sf
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground leased interest in a freestanding single-tenant Truist Bank regional bank branch located at 9909 Hagen Ranch Road, Boynton Beach, FL (“Property” or “Asset”).
Initially constructed as a build-to-suit for the Tenant in 2010, the Asset features an investment grade corporate guaranty from Truist Bank (S&P: ‘A-’), 5.4 years of lease term remaining and limited landlord responsibilities.
This unique and rare opportunity allows investors the ability to acquire an infill regional bank branch with high value intrinsic real estate situated the affluent Boynton Beach submarket. The asset offers secure, long-term cash flow backed by an investment grade financial services firm that contains over $542.7 billion in total assets.
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Attributes
Asking price
$5,476,000
NOI
$392,000
Cap rate
7.15%
WAULT
5.4 years
Building area gross
3,773 sf
Year built
2010
Land area gross
0.9 acres
Occupancy
100%
Media
Investment highlights
- Corporate Guarantee (S&P: A-)
- 5.4-Yrs Remaining on Absolute NNN Lease
- Proximate to Baptist Health Hospital
- $112,000 Average Household Income
- Zero Landlord Responsibilities
- #8 Largest Bank in the U.S.
- Attractive Near Term 12.5% Increase
- 46% Deposit Growth Since 2018
- High Traffic Corner with 73,500+ VPD
Contact brokers
Truist Bank - Boynton Beach, FL (0 Properties)
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Last updated
Sep 26, 2024
