SunTrust Bank | Affluent Richmond Suburb

27 Broadstreet Rd, Manakin-Sabot, VA 23103, USA
$2,990,000

Description

Marcus & Millichap is pleased to present for sale this Suntrust Bank located in Manakin Sabot, Virginia. Located on Broadstreet Road in Affluent Manakin Sabot, Virginia, this bank branch
caters to a wealthy population with average household income exceeding $190,000 in the market area. This 1,756 Square Foot Bank Branch with a drive thru is situated on a large 1 Acre Parcel of Land. Suntrust has been at this branch since 2005 and has strong, steady deposits exceeding $50 Million Per Year.
Manakin-Sabot is an unincorporated community in Goochland County, Virginia,located just northwest of Richmond and part of the greater Richmond Area. There are many brand new single
family housing developments located in close vicinity to this Suntrust Bank (See Home Map in Package – Page-6). There are also several acclaimed universities nearby including Averett University (1,500 Students), Mary Baldwin University (1,250 Students) and The University of Richmond (4,200 Students).

  • SunTrust (S&P A-) Bank with more than five years remaining on the Absolute NNN (Fee Simple) Lease
  • Affluent Richmond, Virginia Town with Household Income Exceeding $190,000 in the trade area
  • Strong Three Percent Annual Increases in Rent
  • Strong Bank Deposits Exceeding $50 Million Per Year
  • Huge Deposit Increases of 35% Since 2016 ($37 Million in 2016 to $50 Million in 2019)
  • Located in close proximity to Averett University (1,500 Students), Mary Baldwin University (1,250 Students) and The University of Richmond (4,200 Students)

Property Documents

  • City: Manakin-Sabot
  • State/county: Virginia
  • Zip/Postal Code: 23103
  • Country: United States

Detail

  • Price: $2,990,000
  • Year Built: 1987

Additional details

  • CAP RATE: 6.25%
  • NOI: $186,956

Features