204 Center StMebane, NC 27302

Property Details for 204 Center St

Year built

1961

Lot size

0.61 AC

Property size (Sq ft)

4,848 SF

Zone code

B 2

Property type

Retail properties

Property subtype

Banks

APN

167999

APU

167999

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,483 square foot Truist Bank branch located at 204 W Center St, Mebane, NC 27302. The property sits on a 1.02-acre lot and boasts an absolute triple net (NNN) lease with a credit-rated tenant, eliminating landlord responsibilities. The current lease, commencing December 10, 2007, and expiring December 31, 2027, has a remaining term of approximately 3.1 years, followed by six five-year renewal options. The property features a 7.00% cap rate and a net operating income (NOI) of $146,115. Built in 1961 and renovated in 2008, this bank enjoys excellent visibility on Center Street, Mebane's main retail thoroughfare. The lease includes a desirable 1.5% annual rent increase, providing a hedge against inflation. Truist Bank, a top 10 US bank with an A credit rating, has occupied this location for over 17 years, demonstrating a long-term commitment to the community. This offering provides passive income, strong tenant credit, and significant depreciation benefits due to fee simple ownership. The property's location in a growing North Carolina market further enhances its investment appeal. The asking price is $2,087,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,065,246

  6.5%

  $983,304

  7%

  $913,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,804,281

  Geo Method

  $2,804,281

• Alternative Use

  Use

  Valuation

  Residential

  $829,454

  Hospitality

  $759,775

  Educational

  $632,124

  Medical

  $653,864

  Retail

  $983,304

Location Insight

City

Mebane

County

Alamance

State

North Carolina

Latitude

36.0974

Longitude

-79.2703

CBSA code

15500

CBSA name

BURLINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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