204 Center St Mebane, NC 27302
- Banks
- 4,848 SF
- 0.61 lot acres
Current Use by Public Records
- Truist Mortgage / Bank / Atm
- ATM (Suntrust Bank) / Atm
- Truist / Bank / Atm
- Truist - ATM / Atm
Property Details for 204 Center St
- Year built
- 1961
- Lot size
- 0.61 lot acres
- Property size
- 4,848 SF
- Zone code
- B 2
- Property type
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mebane
- County
- Alamance
- State
- North Carolina
- Longitude
- -79.2703
- Latitude
- 36.0974
- CBSA code
- 15500
- CBSA name
- BURLINGTON, NC METROPOLITAN STATISTICAL AREA
