Bank Ground Lease
296 Blanding Blvd Orange Park, FL 32073
296 Blanding Blvd, Orange Park, FL, 32073
$2,625,000
For Sale
$2,625,000
Ground lease opportunity on a four-lane drive-thru bank site on a major commercial corridor in Orange Park, Florida.
Property Size7,355 SF
Price / SF$356.90
Days on Market9
Property Features for 296 Blanding Blvd
General Information
- Standard status
- Active
- Size
- 7,355 SF
- Property subtype
- Bank
Listing agency
Marcus & Millichap - Dallas
(972) 755-5198
Listed by
Luke Sullivan · License #License(s): TX: 790739
(972) 755-5198
Source
Marcusmillichap
Added: Jul 15 Checked: Jul 22 at 2:09AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Offered for sale is a Truist Bank ground lease on a 1.36-acre site in Orange Park, Florida. The property includes a four-lane drive-thru and has operated continuously as a bank branch since 1992, first under BB&T and later Truist following the 2019 merger with SunTrust.
The site fronts Blanding Boulevard with reported traffic of 65,000 vehicles per day, along one of Clay County’s highest-traffic commercial corridors. The surrounding trade area includes 149,623 residents and 112,396 daytime employees within five miles, with average household incomes exceeding $100,000.
The offering is presented as a ground lease, with the property already in active, long-term bank use.
The site fronts Blanding Boulevard with reported traffic of 65,000 vehicles per day, along one of Clay County’s highest-traffic commercial corridors. The surrounding trade area includes 149,623 residents and 112,396 daytime employees within five miles, with average household incomes exceeding $100,000.
The offering is presented as a ground lease, with the property already in active, long-term bank use.
Key Highlights
- 1.36‑acre Truist Bank ground lease site in Orange Park, FL.
- Four‑lane drive‑thru bank location with continuous operation as a branch since 1992.
- Uninterrupted occupancy at this location since 1992 (BB&T, then Truist after 2019 merger with SunTrust).
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.4k | $18.00 |
| − Vacancy | −$13.6k | −$1.85 |
| EGI | $118.8k | $16.15 |
| − OpEx | −$29.7k | −$4.04 |
| NOI | $89.1k | $12.11 |
7,355 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $89,065 @ 7.0% cap · market cap 3.39%
Second Best
Retail
$1.19M
$1.04M – $1.39M
NOI $83,128 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,333 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
SunTrust Mortgage
Bank
Truist
Bank
SunTrust ATM
Atm
Truist - ATM
Atm
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Ground lease opportunity on a four-lane drive-thru bank site on a major commercial corridor in Orange Park, Florida.
Where is this bank located?
The property is located at 296 Blanding Blvd Orange Park, FL.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: 1.36‑acre Truist Bank ground lease site in Orange Park, FL.; Four‑lane drive‑thru bank location with continuous operation as a branch since 1992.; Uninterrupted occupancy at this location since 1992 (BB&T, then Truist after 2019 merger with SunTrust).
