284 N Main St - Bank FOR SALE


Kilmarnock, VA 22482
$696,081 USD
847-562-8500
284 N Main St, Kilmarnock, VA for Sale
$696,081 USD
Bank - FOR SALE
1/3
null | 6.2% Cap Rate

284 N Main St
Kilmarnock, VA 22482


HIGHLIGHTS

  • Long-Term Lease Through September 2040
  • Absolute NNN lease
  • Investment-Grade Tenant (KBRA: A-)
  • NYSE-Listed Parent Guaranty (NYSE: AUB)
  • Largest Bank Headquartered in Virginia
  • Immediate Proximity to Rappahannock General Hospital

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Atlantic Union Bank located in Kilmarnock, Virginia. Atlantic Union Bank is currently operating on a long-term NNN lease through September 2040, with approximately 14 years of remaining term. The subject lease presents zero landlord responsibilities. Additionally, there are 1.50% annual rent escalations throughout the remaining primary term and two 5-year renewal options with 2.00% annual rent increases. The lease is backed by a corporate guarantee from Atlantic Union Bankshares Corporation (NYSE: AUB), the largest bank headquartered in Virginia. Atlantic Union Bank maintains a KBRA: A- investment grade credit rating. The 5,476 square-foot building is situated along N. Main Street (Route 3), Kilmarnock’s primary commercial corridor carrying approximately 11,000 vehicles per day, and bene?ts from its position in the heart of the Northern Neck’s dominant retail trade area. The property is within approximately one-quarter mile of Food Lion, a Walmart Supercenter, and Dollar General, creating a strong daily-needs co-tenancy that drives consistent traffic to the corridor. Rappahannock General Hospital - a 76-bed critical access hospital and the Northern Neck’s primary acute-care facility - is located less than half a mile from the property. Known as the “Broadway of the Northern Neck,” Kilmarnock is the primary retail, healthcare, and service hub for Lancaster and surrounding counties on Virginia’s Northern Neck peninsula. The average household income exceeds $107,000 within ?ve miles of the property. Atlantic Union Bank is a full-service regional commercial bank headquartered in Richmond, Virginia, and a wholly owned subsidiary of Atlantic Union Bankshares Corporation (NYSE: AUB). Following its April 2025 acquisition of Sandy Spring Bancorp, Atlantic Union Bank became the largest bank headquartered in Virginia, operating approximately 190 branches across Virginia, Maryland, and North Carolina with approximately $37.6 billion in total assets and reporting net income of $261.8 million in ?scal year 2025. The bank carries a KBRA: A- investment grade credit rating, affirmed in October 2025 with a Stable outlook.

FOR SALE DETAILS

PRICE

$696,081 USD

PRICE/SF

$165 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atlantic Union Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,607 SF

ZONING

C1

APN/PARCEL ID

23A-21-41A

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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