Bank Ground Lease
109 Smith Avenue Shallotte, NC 28470
For Sale
$2,826,100
Absolute NNN ground lease backed by Bank of America on a major retail corridor entrance.
Lot Size1.10 Acres
Days on Market49
Property Features for 109 Smith Avenue
General Information
Standard status
Active
Lot size
1.10 Acres
Property subtype
Retail
Building Details
Year Built
2026
Listing Agency:
Trinity Partners | Greenville
(404) 435-6312
Listed By:
Tyson Glasser · License #SC90007
(404) 435-6312
Source:
Trinity-partners
Added: Jun 11
Changed: Jul 10
Last Checked: Jul 29 at 4:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trinity Partners | Greenville
Investment Insights
Based on property information with market context.
The property is an approximately 1.1-acre outparcel set at the entrance to Coastal Walk, a 176,200-square-foot retail center. It is offered as a 15-year absolute NNN ground lease with zero landlord (LL) responsibility, commencing August 2026. The lease structure includes 10% rent increases every five years throughout the initial term, plus four option periods.
Coastal Walk is anchored by Hobby Lobby, Marshalls, Ross, Bealls, PetSmart, Five Below, and ULTA, with additional retailers including Starbucks, Five Guys, Tropical Smoothie Cafe, AT&T, T-Mobile, Aspen Dental, Mattress Firm, and Rack Room Shoes. Walmart is adjacent to the property, and Home Depot and Belk are directly across the street. The site sits at the intersection of Main Street and Smith Avenue, including Main Street with approximately 27,000 vehicles per day, serving Shallotte’s primary retail corridor.
Bank of America is the tenant, supported by the same corporate guaranty structure used across retail branch leases. The remarks cite investment-grade credit ratings from Moody’s (Aa2), S&P (A+), and Fitch (AA), providing a high-credit counterparty for a long-term, ground-lease ownership structure. This configuration is well-suited for investors seeking a passive, long-duration real estate position tied to a national financial operator.
Coastal Walk is anchored by Hobby Lobby, Marshalls, Ross, Bealls, PetSmart, Five Below, and ULTA, with additional retailers including Starbucks, Five Guys, Tropical Smoothie Cafe, AT&T, T-Mobile, Aspen Dental, Mattress Firm, and Rack Room Shoes. Walmart is adjacent to the property, and Home Depot and Belk are directly across the street. The site sits at the intersection of Main Street and Smith Avenue, including Main Street with approximately 27,000 vehicles per day, serving Shallotte’s primary retail corridor.
Bank of America is the tenant, supported by the same corporate guaranty structure used across retail branch leases. The remarks cite investment-grade credit ratings from Moody’s (Aa2), S&P (A+), and Fitch (AA), providing a high-credit counterparty for a long-term, ground-lease ownership structure. This configuration is well-suited for investors seeking a passive, long-duration real estate position tied to a national financial operator.
Key Highlights
- ±1.1‑acre site at the intersection of Main Street and Smith Avenue in Shallotte’s primary retail corridor
- 15‑year absolute NNN ground lease with zero LL responsibility commencing August 2026
- Lease includes 10% rent bumps every 5 years throughout the initial term and 4 option periods
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Bank - Absolute NNN ground lease backed by Bank of America on a major retail corridor entrance.
Where is this bank located?
The property is located at 109 Smith Avenue Shallotte, NC.
What is the asking price?
The asking price for this property is $2,826,100.
What are key features of this property?
This property features: ±1.1‑acre site at the intersection of Main Street and Smith Avenue in Shallotte’s primary retail corridor; 15‑year absolute NNN ground lease with zero LL responsibility commencing August 2026; Lease includes 10% rent bumps every 5 years throughout the initial term and 4 option periods
