For Sale
$5,594,000

9909 Hagen Ranch RdBoynton Beach, FL 33437

High-yield, NNN-leased bank property.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a freestanding, single-tenant Truist Bank branch located at 9909 Hagen Ranch Road, Boynton Beach, Florida. Built in 2010 as a build-to-suit, this 3,773 square foot property sits on a 0.94-acre lot and boasts a strong 7.00% cap rate with a Net Operating Income (NOI) of $391,553. The absolute triple-net (NNN) ground lease features a corporate guarantee from Truist Bank, rated 'A-' by S&P, providing significant financial security. With 5.4 years remaining on the lease (expiring March 31, 2030, commencing July 1, 2007), the lease includes four 5-year renewal options and a 12.5% rent increase every five years. The property benefits from its prime location on a high-traffic corner (73,500+ vehicles per day), within an affluent area with an average household income exceeding $112,000 within a 5-mile radius. The surrounding community boasts a population of 204,500 residents, and the property has experienced remarkable 46% deposit growth since 2018. The property's proximity to a 9-acre retail development (including a new Publix) and Baptist Health Hospital further enhances its value. The asking price is $5,594,000 ($1,482.64 per square foot). This is a low-maintenance, high-return investment with minimal landlord responsibilities.

Highlights

  • Investment-grade corporate guarantee (S&P A-).
  • 5.4 years remaining on a triple-net (NNN) lease.
  • Excellent location near Baptist Health Hospital.
  • Strong demographics with $112,000 average household income.
  • Zero landlord responsibilities.
  • Tenant is the nation's 8th largest bank.

Property Details for 9909 Hagen Ranch Rd

Property type
Retail properties, Banks
Square Feet
3,773 SF
Year Built
2010
Lot Size (sq. ft)
40,946 SF

Location Insight

City
Boynton Beach
County
Palm Beach
State
Florida
Latitude
26.528511645755
Longitude
-80.164503859503
9909 Hagen Ranch Rd, Boynton Beach, Florida

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9909 Hagen Ranch Rd
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