BB&T Bank – Birmingham, AL
Fortis Net Lease is pleased to present this 3,780 SF. BB&T Bank located in Birmingham, Alabama, an opportunity zone. The property offers an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 2 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Truist Financial Corporation. which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store has been a strong, committed tenant in this area. It is currently open and operating successfully with rent having commenced in July 1985.
This BB&T Bank is highly visible as it is a Walmart Supercenter outparcel and strategically positioned on Red Lane Road, which sees 10,339 cars per day, just off of Parkway E, which sees 43,737 cars per day. The five mile population from the site is 104,828 while the one mile average household income is $51,464 per year, making this location ideal for a BB&T Bank. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a BB&T Bank. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a 7.25% cap rate based on NOI of $94,500.
• Located in an Opportunity Zone! | Walmart Supercenter OutParcel
• Long Standing Tenant | Proven Success in Market
• Two (5 Year) Options | 10% Rental Rate Increase at Each
• Five Mile Population 104,828
• One Mile Average Household Income $51,464
• 10,339 Cars Per Day on Red Lane Road
• Located on Dense Retail Corridor Near Multiple National Tenants |
Walmart, McDonald’s, ALDI, Walgreens, and Chick-fil-A
• Easy Access to Parkway E Which Sees 43,737 Cars Per Day
• Birmingham is the Largest City in Alabama With a Population of 209K+ Residents
• Guaranteed by Truist Financial Corporation | BBB- Credit Rating
Instate Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate LLC | License # 53820