Truist Bank - Beverly Hills, FL
eXp Commercial is excited to present the sale of a Truist Bank property in Beverly Hills, FL, a well-established location with robust branch deposits.. This property has had a long-term tenant since 2008. This NNN offering includes a 4, 664 SF building on a .93-acre lot, strategically positioned along N Lecanto Hwy, a major north-south artery with over 27, 500 vehicles per day, providing excellent visibility and access. The lease features fixed annual rent increases of 1.5% and renewal options, making this a solid investment with inflation protection. As a management-free asset, the tenant is responsible for all repairs, maintenance, taxes, and operating expenses, offering investors a hands-off, stable income opportunity.
Highlights:
• *Direct Lease Obligation of Truist Bank | No Separate Guaranty Needed, the Bank Is the Obligor
• *$2,950,000 Offering Price | 5.53% Cap Rate on In Place Rent of $163,156
• *40 Years of Banking at This Corner; Branch Operating Here Since 1986
• *Approximately $113.7M in Branch Deposits Per FDIC; the Only Truist Location in Beverly Hills
• *NNN Sale Leaseback in Place Since March 2008; Absolutely Net Return Under Lease Section 3.1
• *First Renewal Option (Twelve Years) Exercised in 2016; Current Term Through September 30, 2028
• *Six 5 Year Renewal Options Extend Potential Occupancy to Approximately 2058
• *Contractual 1.5% Annual Rent Increases Through September 2038; Next Step to $165,603 in April 2027
• *Full Service Drive Through Branch | 4,664 SF on 0.899 Acres | 23 Spaces Plus Recorded Rights to 13 More
• *N Lecanto Highway (CR-491) | Approximately 17,800 Vehicles Per Day
• *Established Retail Node: Walmart Neighborhood Market, ALDI, CVS, Winn-Dixie, Regions Bank
• *Corridor Growth: 1,100+ Homes Proposed or Planned; Tuscany Ranch Approved for 4,900 Homes
• *Sale Subject to Tenant Right of First Offer Under Lease Article XII; Buyer to Verify
- Property type
- Retail
- Building size
- 4,664 SF GLA
- Lot size
- 0.899 acres
- Year built
- 1989
- Floors
- 1
- Occupancy
- 100%
- Zoning
- PDR
- Cap rate
- 5.53%
- NOI
- $163,156