2318 James L Redman Pw Plant City, FL

This property, built in 1987, is subject to an absolute NNN lease, making the tenant responsible for all expenses. This provides investors with a passive income opportunity and zero landlord obligations. Approximately six years remain on the original lease term, with one five-year renewal option remaining. There is an opportunity for investors to reposition the location at the end of the next option. The property reported deposits of $200,256,000 for the fiscal year of 2024, ranking number 2 out of all 33 Truist Bank Branches in Hillsborough County. The location is strategically positioned on a hard, signalized corner, adjacent to national retailers including Publix, Walmart Supercenter, Lowe’s Home Improvement, Bank of America, and Winn Dixie, driving consistent traffic to the area. Truist Bank is the 8th largest bank in the U.S. by assets, boasts a strong credit rating (A-, S&P Global), has a market cap of $55B, and operates 1,928 locations in 15 states. The property features five drive-thru lanes, enhancing operational efficiency and customer convenience. Situated on approximately 0.63 acres, the property has direct frontage along James L Redman Parkway, a major thoroughfare with average daily traffic counts of approximately 27,500 vehicles. The property contains 4,779 square feet. The average household income within a one-mile radius exceeds $75,900.