Truist Bank | 40 Yr Operating History | Jacksonville, FL Property Images & Information
Truist Bank | 40 Yr Operating History | Jacksonville, FL Property Description
Florida Broker of Record Scott DeYoung FL BK 3421401 Faris Lee Investments is pleased to present the opportunity to acquire a fee simple Truist Bank property on a signalized hard-corner outparcel to a Target and Home Depot anchored shopping center in Jacksonville, Florida. Truist and predecessor SunTrust have operated at the property since 1987, preserving a well-below-market rent basis that supports tenant retention and significant long-term rental upside. The corporate absolute NNN lease offers zero landlord responsibilities, 1.5% annual increases through the current term and first two renewal periods, and investment-grade Truist Bank credit (S&P: “A”). The 3,450-square-foot drive-thru bank occupies 1.13 acres with direct access from Monument Road (24,500 VPD), immediately off Arlington Expressway (49,500 VPD) and Atlantic Boulevard (52,000 VPD). The dense five-mile trade area includes more than 224,000 residents, 89,000 households, and 99,000 employees. The nearby 89.7-acre Nexus at Regency redevelopment is planned for multifamily, medical, entertainment, hotel, office, and retail uses, adding demand drivers and supporting long-term property value. Current annual rent of just $128,183 combines favorable occupancy costs with valuable land and building ownership. The lease extends through 2029, with six renewal options potentially extending occupancy through 2057 and fair-market-value rent resets beginning in 2038.
Exclusive Investment Highlights
- Truist Bank | Investment Grade Tenant | Rated "A" by S&P with a stable outlook.
- Absolute NNN lease with zero landlord operating or maintenance responsibilities.
- Nearly 40 Years of Occupancy | Well-Below-Market Rent
- Signalized hard-corner outparcel to a Target and Home Depot anchored shopping center.
- Direct access from Monument Road (24,500 VPD), immediately off Arlington Expressway (49,500 VPD) and Atlantic Boulevard (52,000 VPD).
- Dense Daytime Population: More than 224,000 residents, 89,000 households, and 99,000 employees within five miles.
Area Overview
Signalized hard-corner outparcel to a Target and Home Depot anchored shopping center in Jacksonville's established Arlington/Regency submarket.
(subject to change) $3,016,000 CAP RATE: 4.25%
Financial Snapshot
| Net Operating Income | $128,183.00 |
|---|---|
| Rentable SF | 3,450 SF |
| Lot Size (Acres) | 1.06 AC |
| Year Built | 1987 |
| APN | See OM |
| Zoning | Commercial |