Overview

Highlights

• 7,878 SF on 1.28 acres
• 100% Leased to a single tenant
• NOI: $95,000
• Options: Two (2), five (5) year options with 10% bumps
• Absolute NNN - no LL responsibilities
• CAP rate: 7%
• Sale price: $1.357M

Description

Absolute NNN lease with 10% bumps at option periods guaranteed by United Bank through 9/30/2028. United Bank has approximately $30 billion in assets. Prior to being acquired by United Bank, this branch served as a consolidated location of two First South Banks that were located in Kinston.

Uniquely positioned on a prime hard corner across the street from the Vernon Park Mall in Kinston, this property boasts an oversized 1.28 acre lot with a 7,878 SF building situated upon it. It is located along Business 70, which is a core commercial road through Kinston. Nearby retailers include: Wells Fargo, BB&T, Dollar General, Belk, the DMV, State Employees Credit Union, Exxon, Pizza Hut, KFC, Taco Bell and more.

Location

The building is located in Downtown Kinston with numerous walkable amenities nearby including restaruants, breweries, and historical attractions. The property is situated on 1.28 acres and is positioned on a major corridor with 18,500 cars per day passing the site.

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