1601 Elm-Eugene StGreensboro, NC 27406

Property Details for 1601 Elm-Eugene St

Year built

1972

Lot size

0.56 AC

Property size (Sq ft)

2,283 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Greensboro

County

Guilford

State

North Carolina

Latitude

36.0484

Longitude

-79.7911

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