Wells Fargo - New 15Yr. Lease | 500 Glynn Is
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Wells Fargo - New 15Yr. Lease 500 Glynn Is
3,276 SF 4-Star Retail Building Brunswick, GA 31525 $2,670,000 ($815/SF) 4.31% Cap Rate
Investment Highlights
- Brand New 15 Yr. Absolute NNN Corp. Ground Lease by Wells Fargo (NYSE: WFC) - Opens Soon
- Best in Class Bank - Part of “The Big Four Banks” - Strong Guarantee with Market CAP $185B+
- 2024 Prototype Construction - Investment Grade Tenant with 10% Bumps/5 Yrs. - Coupon Clipper
- Trophy Outparcel to Glenn Isles Power Center (193K SF) - Target/Lowe’s/Dick’s/Ross Anchored
- Affluent Coastal City with Strong Demos - Within Main Retail Trade Area of a Large MSA
- Rare Price for a Brand New Top Bank Brand - Replaceable Market Rent - Strong Retail Density
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to investors an excellent opportunity to acquire a NNN ground leased Wells Fargo Bank in Brunswick, GA. Wells Fargo (NYSE: WFC) has an investment grade credit rating, operates over 6,900 branches nationwide and has over $1.4 trillion in annual deposits. With a new 15-year lease term, three 5-year option periods, 10% rent increases every 5 years and zero landlord responsibilities this asset is ideal for an investor seeking years of inflation resistant cash flows. The new construction 3,276 SF standalone building with drive-up ATM on 0.89 acres is an outparcel to Glynn Isles Shopping center (anchored by Target & Lowe’s Home Improvement) and is positioned on Altama Avenue which sees over 21,300 VPD. Additionally, the subject property is within a mile of Glynn Place Mall, a 502,000 SF regional mall. Other nearby retailers include Walmart Supercenter, Walmart Neighborhood Market, The Home Depot, Publix, McDonald’s, Starbucks, Chick-fil-A, Wendy’s, Walgreens and more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
3,276 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2024
Construction Status
Under Construction
Price
$2,670,000
Price Per SF
$815
Cap Rate
4.31%
NOI
$115,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.89 AC
Zoning
HC
Frontage
136 FT on Altama Ave
Amenities
- Banking
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 01-07535 | Improvements Assessment | $0 |
| Land Assessment | $53,400 | Total Assessment | $53,400 |
PROPERTY TAXES
Parcel Number
01-07535
Land Assessment
$53,400
Improvements Assessment
$0
Total Assessment
$53,400
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Wells Fargo - New 15Yr. Lease | 500 Glynn Is
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