1502 SE Us Highway 19
Crystal River, FL 34429
|Price: $4,750,00||Building Size: 9,150|
|Cap Rate: 4.85%||Lot Size: 1.1 acres|
|Annual Rent: $230,164||Year Built: N/A|
-Absolute NNN Lease– Zero landlord responsibilities
-Strong rental growth – 1.5% rent increases annually
-Very strong branch deposits of $106 million
-Lease guaranteed by SunTrust Bank, one of the largest financial institutions in the US with over 1,400 retail branch locations.
-SunTrust is investment grade credit – Rating by S&P and Moody’s are A- and Baa1 respectively
-As of December 31, 2016, SunTrust had total assets of $205 billion and total deposits of $160 billion.
National Retail Properties is pleased to present for sale an SunTrust bank located in Crystal River, FL. This absolute NNN lease has zero landlord responsibilities and is guaranteed by SunTrust Bank, an investment grade credit. Over 11 years remain on a recently extended lease showing SunTrust’s long term commitment to the location. The lease provides for strong rental growth with annual 1.5% increases in rent.
The property is a single, free-standing, 9,150 SF, two-story building with four drive-thru lanes to the rear. The property has great visibility and is located at the non-signalized corner of SE US Highway 19 and SE Paradise Point Road, along the west side of SE US Highway 19, which has traffic of more than 30,000 vehicles per day. Access to the property is provided via three driveways, with one offering access from US Highway 19 and the other two located off of SE Paradise Point Road.