2021 Construction Regions Bank | 15 Year Absolute NNN | Orlando MSA

Narcoossee Rd & Laureate Blvd, Orlando, FL 32832, USA
$3,625,000

Description

Marcus & Millichap is pleased to present for sale this Brand-New Absolute Net Leased Regions Bank located on the South West Corner of Narcoossee Road and Laureate Boulevard in Orlando, Florida. The freestanding single-tenant property consists of a 2,700 Square Foot building and is situated on a 1.02 Acre parcel of land.
The property is located in the heart of Lake Nona, a 17-squaremile, integrated and collaborative community designed and built from scratch in Orlando and anchored by clusters of excellence in
wellbeing, sports and performance, education and technology. The subject property is also part of Lake Nona Greenwood, a new 46.80-acre mixed used development comprised of 306 Apartments and several commercial lots featuring 7-Eleven, Bank of America, Wash City Car Wash, El Meson, Little Gym, Pristine Spa, Noire Nail Bar, Tijuana Flats, and Kumon Learning Center. The immediate trade area is also home to Publix, Chase Bank, Smoothie King, Burger Fi, First Watch, Chick-Fil-A, and numerous strip centers made up of National and Regional Tenants.
Regions Bank executed a 15 Year Absolute NNN Lease with attractive rental increases of 10 percent every five years. This brand new Regions is currently under construction and is expected to be completed in the early days of November 2021. The lease is backed by Regions Bank Corporation and rent has already commenced.
Regions Financial Corporation is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services. Regions serves customers across the South, Midwest and Texas.
**Adjacent Parcel (7-Eleven) also available for sale. Please contact listing agent for more information.

  • Brand New Construction Regions Bank
  • Corporate Guarantee | S&P Credit Rating: BBB+
  • No Landlord Responsibilities | 15 Year Absolute NNN Lease
  • Attractive Rent Growth | 10% Every 5 Years
  • Traffic Counts | 39,500 Vehicles Per Day
  • Superb Demographics | Over 63,000 Full Time Residents in the Immediate Area
  • Affluent Market | Average Household Income Exceeds $113,321 in 1-mile
  • 31% of Lake Nona Residents Report Average Household Income Exceeding $200,000
  • Located within Lake Nona, a 17-Square-Mile, Integrated and Collaborative Community in Orlando
  • Lake Nona is One of the Fastest-Selling Communities in the U.S
  • Located in a New 46.80-Acre Mixed Use Development Featuring 306 Apartments and a Plethora of Service Retail and Restaurants
  • Florida is a “No Income Tax State”

Property Documents

  • City: Orlando
  • State/county: Florida
  • Zip/Postal Code: 32832
  • Country: United States

Detail

  • Price: $3,625,000
  • Year Built: 2021

Additional details

  • CAP RATE: 4.00%
  • NOI: $145,000

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