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