Hudson, FL - Truist Bank

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Truist Bank investment property located in Hudson, Florida. The tenant recently agreed to a 5-year extension and has approximately 6 years remaining on their lease with 4 (5-year) options to extend, demonstrating commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. As of June 2024, this branch has over $65MM of deposits.

The Truist Bank is located at the signalized, hard-corner intersection of State Hwy 52 and Little Road, combining to average over 79,500 vehicles passing by daily. State Hwy 52 is a major retail thoroughfare serving the city of Hudson. The Truist Bank is adjacent to Plaza of The Oaks, a 200,000+ square foot center anchored by Ross and Five Below, that also features tenants such as Dollar Tree, Domino’s, Pizza Hut, and a Popeye’s pad. The subject property is less than 2 miles from a 211,000+ square foot Walmart Supercenter, one of the largest Walmarts in the state of Florida. In addition, the property is in the center of a primary retail corridor with other nearby national/credit tenants including Publix, Aldi, O’Reilly Auto Parts, Taco Bell, CVS, Dunkin Donuts, McDonald’s, Take 5 Oil Change, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 114,000 with an average household income of $68,200.