1900 W Vernon Ave - Bank FOR SALE


Kinston, NC 28504
$1,357,000 USD
919-576-2500
1900 W Vernon Ave, Kinston, NC for Sale
$1,357,000 USD
Bank - FOR SALE
1/7
null | 7% Cap Rate

1900 W Vernon Ave
Kinston, NC 28504


OVERVIEW

Absolute NNN lease with 10% bumps at option periods guaranteed by United Bank through 9/30/2028. United Bank has approximately $30 billion in assets. Prior to being acquired by United Bank, this branch served as a consolidated location of two First South Banks that were located in Kinston. The property is situated on 1.28 acres and is positioned on a major corridor with 18,500 cars per day passing the site. The building is located in Downtown Kinston with numerous walkable amenities nearby including restaurants, breweries and historical attractions. Occupancy: 100%, Single-tenant Year Built: 1977 Square Feet: 7,878 SF Acres: 1.28 Acres Current Use: Bank/Office Zoning: B-1 NOI: $95,000.00 Options: Two (2) five (5) year options with 10% bumps Absolute NNN: No LL Responsibilities Sale price: $1,357,000 7.0% Cap Rate

FOR SALE DETAILS

PRICE

$1,357,000 USD

PRICE/SF

$172 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

United Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

B1 RA5

APN/PARCEL ID

451511568270

ASK ABOUT THIS PROPERTY

Jake PlotkinLee & AssociatesMore Info
919-576-2500

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Jake PlotkinLee & AssociatesMore Info
919-576-2500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.