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NNN INVESTMENT OPPORTUNITY‘A’ RATED TENANT
DEPOSITS OVER $124MM- THE HIGHEST IN CITRUS COUNTY
TRUIST BANK | 1502 SE US HWY 19, CRYSTAL RIVER FL 34429
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
HIGHLIGHTS
• Priced to sell at $3,850,850• 6.25% cap rate• Lease Commencement: 3/28/2008• Lease Expiration: 9/30/2028• Lease Term Remaining: 8.5 years• Base Rent: $ 240,678• Rent Escalations: 1.5% annually• Renewal Options: Six, 5 year renewal options• Land size: 1.1 AC• Building size: 9,150 SF• Year built: 1983• Tenant: Truist Bank (previously BB&T and
Suntrust Banks) has over 3,400 locations and deposits of $324 billion combined to make the 6th largest bank in the country
• Tenant is A rated• No. 303 on Fortune 500• Over $124MM in Deposits (11% growth)
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 400Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
TRUIST BANK | 1502 SE US HWY 19, CRYSTAL RIVER FL 34429
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
PROPERTY FEATURES
This offering is for a NNN sale of a 9,150 SF building located on 1.1 acres of land in Crystal River, FL. The lease has fixed rent increases of 1.5% annually and revnewal options providing investors with a hedge against inflation, an asset that can be depreciated, and a longstanding tenant with a national brand. The lease is structured with market rents and a passive involvement.
The subject 1.1 acre site with 9,150 SF building was completed in 1983. The grade-level project offers good visibility and access along US Hwy 19, a major north-south artery with over 30,500 vehicles per day.
MARKET AERIAL
US HWY 19- 30,500 VPD
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 400Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
INVESTMENT HIGHLIGHTS
Cap Rate 6.25%
Net Operating Income $240,678
Rentable Square Footage 9,150
Expiration September 30, 2028
Lot Size 1.1 Acres
Type of Ownership Fee Simple
LEASE SUMMARY
Lease Type Absolute NNN
Roof & Structure Tenant
Lease Commencement March 28, 2008
Lease Expiration September 30, 2028
Rent Increases 1.5% Annually
Renewal options Six, 5-year Renewal
Right Of First Refusal YES- Tenant has 10-days to decide
MARKET AERIAL
US HWY 19- 30,500 VPD
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 400Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
AREA DESCRIPTION
The subject property sits on the major north-south artery through Crystal River, which also spans the west coast of Florida. The subject property, built in 1983, is in the commercial corridor of the city, with multiple national tenants, surrounded by residential developments.
Located On the western edge of Citrus County, along the west coast of Florida, Crystal River is described as the Heart of Florida’s Nature Coast. Crystal River is famous for its natural springs, the second largest in Florida. The city also attracts thousands each year to the area, not just to swim with the manatees, but also for boating, fishing and historic archeology. Archeological finds confirm that Crystal River was first populated over 10,000 years ago.
ABOUT CRYSTAL RIVER
The city of Crystal River, Florida is in the heart of the pristine Nature Coast. This beautiful area is one of the fastest growing in Florida, and there is no wonder why. Just a few minutes from anywhere in Crystal River is the sparkling and refreshing Gulf of Mexico, excellent for boating, fishing or just getting away from it all. There are also numerous rivers, lakes, and springs in the area including the Crystal River and The Homosassa River, both of which are spring fed. Along with the water comes many water activities including boating, canoing, kayaking, and swimming with the manatees.
While Crystal River is away from the hustle and bustle of big cities, large metropolitan areas are just a short car ride away. Take a day and drive to nearby Orlando or Tampa and go to huge malls and theme parks. Or go up the road about a half hour to Ocala, where you can go to Silver Springs Park or Wild Waters.
TENANT OVERVIEW
SunTrust and BB&T have combined in a historic merger of equals to create Truist, the sixth largest U.S. bank holding company. With 275 years of combined history serving clients and communities in high-growth markets, our new company will deliver the best of both companies’ talent, technology and processes.
6th largest bank in America
$301B in loans
10MM households
$324B in deposits
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 400Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
ANNUAL GROWTH RATE
DEMOGRAPHICS
Demographic & Income Comparison Profile 1 MILE 3 MILES 5 MILES
2018 Population 2,040 11,047 21,433
2023 Population (Projected) 2,180 11,878 22,868
2018 Total Households 934 5,155 9,957
2023 Total Households (Projected) 955 5,292 10,141
2018 Average HH Income $79,342 $58,836 58,749
2023 Average HH Income (Projected) $94,482 $69,030 $69,511
2018 Median Age 60.0 53.3 54.2
Population Households Average Household Income Per Capita Income
1.5%
4
3.5
3
2.5
2
1.5
1
0.5
0
0.4%
3.5%
2.4%
2018-2023 Annual Growth Rate
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 400Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.