9909 Hagen Ranch RdBoynton Beach, FL 33437

Property Details for 9909 Hagen Ranch Rd

Year built

2010

Construction

CONCRETE

Lot size

0.94 AC

Property size (Sq ft)

3,959 SF

Zone code

MUPD

Property type

Retail properties

Property subtype

Banks

APN

00-42-45-21-16-001-0010

APU

424521160010010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,797,031

  6.5%

  $1,658,798

  7%

  $1,540,312

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,672,952

  Geo Method

  $2,672,952

• Alternative Use

  Use

  Valuation

  Residential

  $1,399,258

  Hospitality

  $1,281,713

  Educational

  $1,066,370

  Medical

  $1,103,044

  Retail

  $1,658,798

Location Insight

City

Boynton Beach

County

Palm Beach

State

Florida

Latitude

26.5287

Longitude

-80.1644

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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