Suntrust Bank | 3% Annual Increases

  • $4,890,000
2691, Placida Road, Shaefer, Charlotte County, Florida, 34224, United States of America

Suntrust Bank | 3% Annual Increases

2691, Placida Road, Shaefer, Charlotte County, Florida, 34224, United States of America
  • $4,890,000

Overview

Property ID: 18672
  • Property Type
  • Bank Properties
  • 3012
  • sqft
  • 1978
  • Year Built

Description

This Suntrust Bank property is located in Grove City, Florida. This property sees more than 15,800 vehicles per day because of its location at the hard corner signalized intersection of Placida Road and Mississippi Avenue. The property has a built-up area of 3,012 sq.ft., and sits on a huge .54 acre parcel of land. Since 2005, Suntrust Bank has acquired this property and receives substantial, steady deposits of more than $34 Million Per Year. Grove City is situated in Florida’s Charlotte County and part of the Punta Gorda Metropolitan Area. The city has a reasonable population of over 2,200. It is surrounded by Lemon Bay, which is an essential part of the Gulf of Mexico. Englewood Community Hospital, which is a 100-bed hospital and serves thousands of people, is only 8 minutes from this bank. Cape Coral Hospital, which is a bigger hospital with 291 beds, 600 physicians, 1200 employees, 1000 volunteers, and a patient count of 55,000 per year, is just 20 minutes from this property.

Some top-class schools, including Vineland Elementary, Heritage Christian Academy, and Lemon Bay High School, are in proximity to this property. Southern Technical College, a popular school of higher educations serving hundreds of students, is also nearby this bank. Recreational places like Myakka River State Park and Grove City Walking Park are also located in the immediate vicinity.

This investment property is suitable for a 1031 exchange.

Property Details – 

  • Property Type – Bank Property
  • Property Status – Closed
  • Location – 2691, Placida Road, Shaefer, Charlotte County, Florida, 34224, USA
  • Number of units – 1
  • Year of Construction – 1978
  • Lease Type – Net Lease
  • Lease Expiration – 5 years 7 months
  • Property Size – 3012 sq.ft.

Details

Updated on April 14, 2020 at 9:21 am
  • Price: $4,890,000
  • Property Size: 3012 sqft
  • Year Built: 1978
  • Property Type: Bank Properties
  • Property Status: Closed
  • Cap Rate: 7.01%
  • Lease Expiration: 5 years 7 months
  • NOI: $342,753
  • Tenant: Suntrust Bank
  • Cap Rate Range: 7%-8%
  • Address 2691, Placida Road, Shaefer, Charlotte County, Florida, 34224, United States of America
  • State/county Florida
  • Zip/Postal Code 34224

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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