For Sale
$1,148,171

1601 Elm-Eugene StGreensboro, NC 27406

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a Truist Bank located at 1601 S Elm-Eugene St, Greensboro, NC 27406. The property boasts 2,283 square feet on a 0.56-acre lot, built in 1972 and renovated in 1990. The property is currently operating under a triple-net (NNN) lease with a corporate guarantee, offering investors zero landlord responsibilities. The lease commenced January 1, 2007, and has a remaining term of approximately 5.1 years. The current annual net operating income (NOI) is $80,372, representing a 7.00% cap rate and a price per square foot of $502.92. The lease includes annual rent increases of 1.5% throughout the current term. Five additional five-year renewal options exist, potentially extending the lease term to over 30 years. These renewal options are subject to fair market value increases. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The asking price for this exceptional property is $1,148,171. The property's location in Greensboro, Guilford County, offers excellent visibility and accessibility. This is a turnkey investment with significant long-term potential.

Highlights

  • Triple-Net (NNN) lease with approximately 5.5 years remaining.
  • Annual rent increases of 1.5%.
  • Excellent tenant history; occupied since 2007, strong financial commitment.
  • Five (5) five-year tenant renewal options, extending potential lease term to 30+ years.

Property Details for 1601 Elm-Eugene St

Property type
Retail properties, Banks
Square Feet
2,283 SF
Year Built/Renovated
1972/1990
Lot Size (sq. ft)
24,394 SF

Location Insight

City
Greensboro
County
Guilford
State
North Carolina
Latitude
36.0484281
Longitude
-79.791105
1601 Elm-Eugene St, Greensboro, North Carolina

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1601 Elm-Eugene St
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