Bank Building with Absolute NNN
For Sale
Contact for pricing
211 Broad St, Kernersville, NC 27284
Fee simple bank property with a 15-year absolute NNN lease and zero landlord responsibilities, including remaining primary term and options.
Property Size6,600 SF
Price / SF$493.79
Days on Market394
Property Features for 211 Broad St
General Information
Standard status
Active
Size
6,600 SF
Property subtype
RETAIL
Site & Location
Traffic Count
52,500 vehicles/day
Highway Access
Yes
Listing Agency:
JLL | Miami
(305) 704-1403
Listed By:
Alex Sharrin · License #IL 475.170243
(305) 913-5545
Source:
Moodyscre
Added: Aug 12, 2025
Changed: Aug 11
Last Checked: Jul 23 at 6:24PM
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 JLL | Miami
Investment Insights
Based on property information with market context.
JLL is pleased to offer the fee simple interest in a bank property leased to Pinnacle Financial Partners on an absolute NNN basis. The lease is structured as a 15-year term, with approximately 12.3 years of primary lease term remaining. Rent includes 1.9% annual escalations, and the tenant has two, five-year renewal options. The lease also specifies zero landlord responsibilities, providing a hands-off operating structure for the owner.
The property is located at the hard corner of Broad Street and Harmon Lane in Kernersville, North Carolina, just north of the Interstate 40 exit. Direct accessibility is supported by reported traffic of 52,500 vehicles per day, with convenient access to the broader Piedmont region.
This is an institutional-style acquisition offering a credit-tenant, absolute NNN lease configuration in a dedicated retail banking building.
The property is located at the hard corner of Broad Street and Harmon Lane in Kernersville, North Carolina, just north of the Interstate 40 exit. Direct accessibility is supported by reported traffic of 52,500 vehicles per day, with convenient access to the broader Piedmont region.
This is an institutional-style acquisition offering a credit-tenant, absolute NNN lease configuration in a dedicated retail banking building.
Key Highlights
- Fee simple interest in bank property at 211 Broad Street in Kernersville, NC
- 15‑year absolute NNN lease structure with 12.3 years of primary term remaining
- 1.9% annual rent escalations and two 5‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$119,351
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,387,020
$2.4M
Cap Rate 7%
$1,705,014
$1.7M
Cap Rate 9%
$1,326,122
$1.3M
Market Conditions
NOI Build-Up for 6,600 SF
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.
Gross rent
$164.7K $24.96/SF
− Vacancy
−$5.6K −$0.85/SF
EGI
$159.1K $24.11/SF
− OpEx
−$39.8K −$6.03/SF
NOI
$119.4K $18.08/SF
Area
Forsyth County, NC
Vacancy
3.40%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,387,020
Cap Rate 7%
$1,705,014
Cap Rate 9%
$1,326,122
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,351 @ 7.0% cap · market cap 3.66%
Second Best
Retail
$1.03M
$903.6K – $1.20M
NOI $72,284 @ 7.0% cap · market cap 2.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
52,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 27284, NC
56,859
Population
25,168
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
722
Density / Sq Mi
$80,739
Median Household Income
$49,784
Median Earnings
$1,086
Median Rent
$259,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bank - Fee simple bank property with a 15-year absolute NNN lease and zero landlord responsibilities, including remaining primary term and options.
Where is this bank located?
The property is located at 211 Broad St Kernersville, NC.
What is the asking price?
The asking price for this property is $3,259,000.
What are key features of this property?
This property features: Fee simple interest in bank property at 211 Broad Street in Kernersville, NC; 15‑year absolute NNN lease structure with 12.3 years of primary term remaining; 1.9% annual rent escalations and two 5‑year renewal options
