1203 Martin Luther King Jr Blvd - Bank FOR SALE


Chapel Hill, NC 27514- Carolina North
$2,250,000 USD
919-730-8719
1203 Martin Luther King Jr Blvd, Chapel Hill, NC for Sale
$2,250,000 USD
Bank - FOR SALE
1/11
null | 6% Cap Rate

1203 Martin Luther King Jr Blvd
Chapel Hill, NC 27514
Carolina North


HIGHLIGHTS

  • Credit rated tenant in premium Chapel Hill market at 6% cap rate
  • Five minutes from UNC and Chapel Hill, and a quick drive to Duke and Downtown Durham
  • Convenient to I-40, providing quick access to RTP, RDU and Downtown Raleigh
  • High traffic location with access to rapidly growing customer base
  • Over $1M in property improvements added by bank tenants

OVERVIEW

Unique opportunity to acquire a 100% leased freestanding single-tenant property with an investment grade tenant in one of the Triangle's hottest sub-markets. Built in 1981 and gut renovated in 2007, this property has housed Pinnacle Financial Partners' Chapel Hill operations since 2018, and its predecessor bank's since 2007. Pinnacle has 6.5 years remaining term, with an annual rent escalation of 3% after 2026. It has also recently upgraded the property with an additional $265,000 investment, signifying its commitment to the location for many years to come and adding to the $700,000+ in upgrades made by the previous bank tenant which Pinnacle acquired. Nestled in the booming high-income community and college town of Chapel Hill, with easy access via I-40 to all areas of the Triangle, Pinnacle's Chapel Hill Branch is poised to thrive, providing a high-quality, stable investment opportunity in an A+ market.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$415 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pinnacle Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

NC/R-3

APN/PARCEL ID

9789294188

ASK ABOUT THIS PROPERTY

Brad WieseMaverick Partners Realty Services, IncMore Info
919-730-8719

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Brad WieseMaverick Partners Realty Services, IncMore Info
919-730-8719

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.