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NNN INVESTMENT OPPORTUNITY BBB+ RATED TENANT DEPOSITS OVER $106M- SECOND HIGHEST IN CITRUS COUNTY SUNTRUST BANK | 1502 SE US HWY 19, CRYSTAL RIVER FL 34429
NNN INVESTMENT OPPORTUNITYBBB+ RATED TENANT
DEPOSITS OVER $106M- SECOND HIGHEST IN CITRUS COUNTY
SUNTRUST BANK | 1502 SE US HWY 19, CRYSTAL RIVER FL 34429
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
HIGHLIGHTS
• Priced to sell at $3,926,336• 5.95% cap rate• Lease Commencement: 3/28/2008• Lease Expiration: 9/30/2028• Lease Term Remaining: 10 years• Base Rent: $233,617• 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: Suntrust Bank, 1,400 locations and
2017 deposits of $162 billion• BBB+ rated tenant• No. 303 on Fortune 500
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
EVAN [email protected]
SUNTRUST 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 visibil-ity 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 950Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
EVAN [email protected]
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
INVESTMENT HIGHLIGHTS
Cap Rate 5.95%
Net Operating Income $233,617
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 950Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
EVAN [email protected]
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.
TENANT OVERVIEW
SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an over 1,400 branch locations and over 2,160 ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of March 31, 2018, SunTrust had total assets of $205 billion and total deposits of $162 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust is BBB+ rated and is ranked #303 on the Fortune 500 list.
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.
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
EVAN [email protected]
NNN INVESTMENT OPPORTUNITYCREDIT RATED TENANT
ANNUAL GROWTH RATE
DEMOGRAPHICS
Demographic & Income Comparison Profile 1 MILE 3 MILES 5 MILES
2017 Population 1,914 11,020 21,571
2022 Population (Projected) 1,960 11,271 21,902
2017 Total Households 846 5,105 9,759
2022 Total Households (Projected) 866 5,207 9,885
2017 Average HH Income $86,429 $61,406 $60,386
2022 Average HH Income (Projected) $97,256 $70,885 $69,452
2017 Median Age 61.8 61.8 61.8
PJ BEHRVice President, CCIM Investment [email protected]
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
EVAN [email protected]
