2230 Melrose Ave NW
Roanoke, VA 24017
|Price: $470,000||Building Size: 2,600 SF|
|Cap Rate: 5.25%||Lot Size: 0.45|
|Annual Rent: $24,446||Year Built: N/A|
– Absolute NNN Lease Zero landlord responsibilities
– SunTrust recently extended lease for 11+ years
– Strong rental growth – 1.5% rent increases annually
– 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 Roanoke, VA. This absolute NNN lease has zero landlord responsibilities and is guaranteed by SunTrust Bank, an investment grade credit. Approximately 11 years remain on recently extended lease. The lease provides for strong rental growth with a annual 1.5% increases including options.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has three business segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of December 31, 2016, SunTrust had total assets of $205 billion and total deposits of $160 billion.