1601 Elm-Eugene St Greensboro, NC 27406
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High-yield NNN lease, strong tenant.
Property size:
2,283 SFProperty Features for 1601 Elm-Eugene St
General Information
- Property type
- Individual retail properties
- Square Feet
- 2,283 SF
- Lot Size
- 24,394 SF
Building Details
- Year Built/Renovated
- 1972/1990
Listing Agency: NNN Pro Group Listing Agent: Glen Kunofsky
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a fee-simple ownership of a Truist Bank located at 1601 S Elm-Eugene St, Greensboro, NC 27406. The property boasts 2,283 square feet on a 0.56-acre lot, built in 1972 and renovated in 1990. The property is currently operating under a triple-net (NNN) lease with a corporate guarantee, offering investors zero landlord responsibilities. The lease commenced January 1, 2007, and has a remaining term of approximately 5.1 years. The current annual net operating income (NOI) is $80,372, representing a 7.00% cap rate and a price per square foot of $502.92. The lease includes annual rent increases of 1.5% throughout the current term. Five additional five-year renewal options exist, potentially extending the lease term to over 30 years. These renewal options are subject to fair market value increases. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The asking price for this exceptional property is $1,148,171. The property's location in Greensboro, Guilford County, offers excellent visibility and accessibility. This is a turnkey investment with significant long-term potential.
Property Profile
Location Intelligence
Current Use by Public Records
Banks
Map
- City
- Greensboro
- County
- Guilford
- State
- North Carolina
- Longitude
- -79.791105
- Latitude
- 36.0484281
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FAQs
What type of property is this?
Individual retail property - High-yield NNN lease, strong tenant.
Where is this individual retail property located?
The property is located at 1601 Elm-Eugene St Greensboro, NC.
What is the asking price?
The asking price for this property is $1,148,171.
What are key features of this property?
This property features: Triple-Net (NNN) lease with approximately 5.5 years remaining.; Annual rent increases of 1.5%.; Excellent tenant history; occupied since 2007, strong financial commitment.
