Single-Tenant NNN Bank
For Sale
Contact for pricing
Pending
2561 N University Dr, Coral Springs, FL 33065
Single-tenant bank facility with a corporate-guaranteed NNN ground lease and scheduled rent increases.
Property Size4,212 SF
Days on Market134
Property Features for 2561 N University Dr
General Information
Standard status
Pending
Size
4,212 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
2012
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Fort Lauderdale
(561) 706-9646
Listed By:
Alan Lipsky · License #FL SL3279054
Source:
Crexi
Added: Apr 21
Changed: Aug 31
Last Checked: Aug 30 at 10:25PM
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 - Fort Lauderdale
Investment Insights
Based on property information with market context.
The property is a 4,212-square-foot PNC Bank facility completed in 2012 on a 2.01-acre parcel in Coral Springs, Florida. The asset is leased under an NNN ground lease with a corporate guaranty, and the agreement provides for 12% rent increases every five years.
Located at 2561 N University Dr, the property sits across from The Walk at University along Coral Springs’ primary retail corridor. More than 1.4 million square feet of retail space is located within a one-mile radius, with nearby co-tenancy including Publix, Trader Joe’s, Whole Foods, Total Wine, and Barnes & Noble.
The five-mile trade area includes more than 350,000 residents and average household incomes exceeding $104,000. Planned Cornerstone and City Village mixed-use projects are expected to add over 700 residential units and nearly 100,000 square feet of commercial space.
Located at 2561 N University Dr, the property sits across from The Walk at University along Coral Springs’ primary retail corridor. More than 1.4 million square feet of retail space is located within a one-mile radius, with nearby co-tenancy including Publix, Trader Joe’s, Whole Foods, Total Wine, and Barnes & Noble.
The five-mile trade area includes more than 350,000 residents and average household incomes exceeding $104,000. Planned Cornerstone and City Village mixed-use projects are expected to add over 700 residential units and nearly 100,000 square feet of commercial space.
Key Highlights
- 4,212‑square‑foot PNC Bank facility completed in 2012
- Situated on a 2.01‑acre parcel in Coral Springs, FL
- NNN ground lease with a corporate guaranty
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
$469,268
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
9.13%
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%
$9,385,360
$9.4M
Cap Rate 7%
$6,703,829
$6.7M
Cap Rate 9%
$5,214,089
$5.2M
Market Conditions
NOI Build-Up for 4,212 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
$711.7K $168.96/SF
− Vacancy
−$41.3K −$9.80/SF
EGI
$670.4K $159.16/SF
− OpEx
−$201.1K −$47.75/SF
NOI
$469.3K $111.41/SF
Area
Coral Springs, FL
Vacancy
5.80%
Lease Rate
$168.96 /SF/Yr
Expense Ratio
30.00%
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%
$9,385,360
Cap Rate 7%
$6,703,829
Cap Rate 9%
$5,214,089
Alternative Uses
Best Use
Specialty Retail
$7.18M
$6.28M – $8.38M
NOI $502,787 @ 7.0% cap · market cap 9.78%
Second Best
Retail
$6.70M
$5.87M – $7.82M
NOI $469,268 @ 7.0% cap · market cap 9.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant bank facility with a corporate-guaranteed NNN ground lease and scheduled rent increases.
Where is this nnn property located?
The property is located at 2561 N University Dr Coral Springs, FL.
What is the asking price?
The asking price for this property is $5,140,000.
What are key features of this property?
This property features: 4,212‑square‑foot PNC Bank facility completed in 2012; Situated on a 2.01‑acre parcel in Coral Springs, FL; NNN ground lease with a corporate guaranty
