1900 W Vernon Ave Kinston, NC 28504
NNN leased bank branch on a prime corner lot.
Building Details
- Year built
- 1977
Source:
Lee-associates
Listing Agent: Jake Plotkin
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Kinston Bank Branch For Sale
This 7,878 square foot bank branch is situated on a 1.28 acre lot and is 100% leased to a single tenant. The property is located on a prime hard corner across the street from the Vernon Park Mall in Kinston, along Business 70, a core commercial road with a traffic count of 18,500 cars per day. The absolute NNN lease, guaranteed by United Bank through 9/30/2028, includes 10% rent increases at the option periods. 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. Nearby retailers include Wells Fargo, BB&T, Dollar General, Belk, the DMV, State Employees Credit Union, Exxon, Pizza Hut, KFC, and Taco Bell. The building is located in Downtown Kinston with numerous walkable amenities nearby including restaurants, breweries, and historical attractions. The property has two (2), five (5) year options with 10% bumps. The Net Operating Income (NOI) is $95,000 with a cap rate of 7%.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
United Bank
Bank
CresCom Bank
Bank
Setterland LLC
Restaurant
Location Insight
- Map
- Local Demand
- City
- Kinston
- County
- Lenoir
- State
- North Carolina
- Longitude
- -77.606618
- Latitude
- 35.270282
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FAQs
What type of property is this?
Bank - NNN leased bank branch on a prime corner lot.
Where is this bank located?
The property is located at 1900 W Vernon Ave Kinston, NC.
What is the asking price?
The asking price for this property is $1,357,000.
What are key features of this property?
This property features: - Absolute NNN lease guaranteed by United Bank through 9/30/2028.; - **Prime hard corner location** across from Vernon Park Mall on a major commercial road with 18,500 cars per day.; - Oversized 1.28 acre lot with a 7,878 SF building.
