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SINGLE TENANT ABSOLUTE NNN Investment Opportunity
4805 ANNAPOLIS ROAD
BLADENSBURG MARYLANDACTUAL SITE
2 NATIONAL NET LEASE GROUP
PATRICK NUTTEVP, NNLG & Market LeaderSRS Real Estate Partners 200 SW First Avenue, Suite 970Fort Lauderdale, FL 33301D 954.302.7365M [email protected] License No. BK3120739
ANDREW FALLONExecutive Managing DirectorSRS National Net Lease Group
1765 Greensboro Station Place Tower 1, Suite 900McLean, VA 22102 M [email protected] VA License No. 0225193951
Reciprocal Broker: David Wirth, SRS Real Estate Partners-Northeast, LLC | MD License No. 5000356
EXCLUSIVELY MARKETED BY
3 NATIONAL NET LEASE GROUP
COMPANY TYPE PARENT 2018 EMPLOYEES 2018 REVENUE
Subsidiary Truist Financial Corp. 40,691 $11.45 BLARGEST US BANK LOANS
6th $301 B
2018 NET INCOME 2018 ASSETS 2018 EQUITY CREDIT RATING
$3.24 B $473.08 B $66.38 B S&P: A-HOUSEHOLDS DEPOSITS
~ 10 M $324 B
SunTrust Bank | suntrust.com
SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of September 30, 2019, SunTrust had total assets of $227 billion and total deposits of $168 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Truist Financial is the parent company of SunTrust Banks, Inc.
Truist | truist.com
SunTrust and BB&T have combined in a historic merger of equals to create Truist, the sixth largest U.S. bank holding company. With 275 years of combined history serving clients and communities in high-growth markets, the new company will deliver the best of both companies’ talent, technology and processes. Truist is headquartered in Uptown Charlotte, North Carolina, in the heart of its vibrant financial district.
BRAND PROFILE
ACTUAL SITE 4 NATIONAL NET LEASE GROUP
PROPERTY PHOTO
ACTUAL SITE 5 NATIONAL NET LEASE GROUP
PROPERTY PHOTOS
ACTUAL SITE 6 NATIONAL NET LEASE GROUP
Parcel Map
OFFERING SUMMARY Offering
Property Specifications
ASKING PRICE $2,800,000
CAP RATE 6.50%
NET OPERATING INCOME $182,033
PROPERTY ADDRESS 4805 Annapolis Road Bladensburg, MD 20710
RENTABLE AREA 4,780 SF
LAND AREA 0.46 Acres
OWNERSHIP Fee Simple (Land & Building)
TENANT SunTrust Banks, Inc.
GUARANTY Corporate
LEASE TYPE Absolute NNN
LEASE TERM REMAINING 8 Years
INCREASES 1.5% Annually
OPTIONS 6 (5-Year)
RENT COMMENCEMENT 3/28/2008
LEASE EXPIRATION 9/30/2028
ACTUAL SITE 7 NATIONAL NET LEASE GROUP
RENT ROLLFor financing options and loan quotes:Please contact our SRS Debt & Equity team at [email protected].
Lease Term Rental Rates
TENANT NAME SF LEASE START LEASE END BEGIN INCREASE MONTHLY ANNUALLY OPTIONS
SunTrust Banks, Inc. 4,780 3/28/2008 9/30/2028 Current - $15,169 $182,033 6 (5-Year)
(Corporate Guaranty) 4/1/2021 1.5% $15,397 $184,763 1.5% Annual Increases Throughout Options
4/1/2022 1.5% $15,628 $187,535
1.5% Annual Increases Thereafter1Tenant has a 10-day Right of First Refusal
8 Years Remaining | Corporate Guaranteed | Annual Rental Increases | Strong Operator
• Corporate guaranteed by SunTrust Banks, Inc. (S&P: A-)• SunTrust/Truist Bank has approximately 8 years remaining in their current term
with 6 (5-year) options to extend• The lease features 1.5% annual rental increases throughout the initial term and
option periods, growing NOI and hedging against inflation• As of September 2016, SunTrust/Truist Bank operates more than 1,400 bank
branches and 2,160 ATM’s across 11 southeastern states and Washington, D.C.
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises• No landlord responsibilities• Ideal, management-free investment for a passive investor
Long-Standing Bank Location | Washington, D.C. Corridor | Excellent Visibility & Access
• The asset is a successful, long-standing bank location as the property operated as a bank since 1946 according to the FDIC
• Irreplaceable location on Annapolis Road, the main commercial corridor in the sub-market with over 35,000 vehicles passing by daily
• Excellent visibility just 6 miles northeast of central Washington, D.C.• Benefits from significant street frontage and multiple points of ingress/egress,
providing ease and convenience for customers
Strong Demographics in 5-Mile Trade Area• More than 600,000 residents and 245,000 employees support the trade area• $95,000 average household income• Washington, D.C. MSA has a population of 6,000,000+ and benefits from
22,000,000 visitors annually
8 NATIONAL NET LEASE GROUP
Location Access
Parcel
Traffic Counts Improvements
Limited Competition Zoning
Located inBladensburg, MarylandPrince George’s County
48th Street/State Highway 796
1 Access Point
Quincy Place 1 Access Point
Parcel Number: 02-0100925 Acres: 0.46
Square Feet: 20,038 SF
Annapolis Road/ State Highway 450
35,400 Cars Per Day
Kenilworth Avenue/ State Highway 201
31,500 Cars Per Day
There is approximately 4,780 SF of existing building area
No other SunTrust or BB&T in Bladensburg
Commercial
PROPERTY OVERVIEW
9 NATIONAL NET LEASE GROUP
WASHINGTON DC25 mins 6 miles
BLADENSBURG
LOCATION MAP
2019 ESTIMATED POPULATION
1 Mile 14,152
3 Mile 173,808
5 Mile 600,007
2019 AVERAGE HOUSEHOLD INCOME
1 Mile $74,903
3 Mile $81,232
5 Mile $94,646
2019 ESTIMATED TOTAL EMPLOYEES
1 Mile 9,323
3 Mile 59,661
5 Mile 244,035
4 miles
10 NATIONAL NET LEASE GROUP
ANNAPOLIS RD./STATE HIGHWAY 450ANNAPOLIS RD./STATE HIGHWAY 450
STATE HIGHW
AY 769CSTATE H
IGHWAY 769C
CARS PER DAY35,400
CARS PER DAY5,544
11 NATIONAL NET LEASE GROUP
ANNAPOLIS RD./STATE HIGHWAY 450ANNAPOLIS RD./STATE HIGHWAY 450
U.S. HIG
HWAY 1
U.S. HIG
HWAY 1
U.S. HIGHWAY 1 ALTERNATIVE
U.S. HIGHWAY 1 ALTERNATIVE
STAT
E HIG
HWAY
201
STAT
E HIG
HWAY
201
STATE HIGHWAY 202
STATE HIGHWAY 202
BLADENSBURG BLADENSBURG HIGH SCHOOLHIGH SCHOOL
INTERNATIONAL INTERNATIONAL HIGH SCHOOLHIGH SCHOOL
BLADENSBURG BLADENSBURG ELEMENTARY SCHOOLELEMENTARY SCHOOL
UM PRINCE GEORGE’S UM PRINCE GEORGE’S HOSPITAL CENTERHOSPITAL CENTER
CARS PER DAY35,400
CARS PER DAY31,500
CARS PER DAY31,200
CARS PER DAY102,000
CARS PER DAY22,600
CARS PER DAY22,400
BLADENSBURG BLADENSBURG SHOPPING CENTERSHOPPING CENTER
STATE HIGHWAY 295
STATE HIGHWAY 295
ANNAPOLIS RD.ANNAPOLIS RD.48
TH S
T.48
TH S
T.
CARS PER DAY35,400
12 NATIONAL NET LEASE GROUP
CARS PER DAY5,544
13 NATIONAL NET LEASE GROUP
Bladensburg, Maryland
Bladensburg is a town in Prince George’s County, Maryland, United States. Bladensburg, a suburb of Washington D.C, is located alongside the Anacostia River. The town was originally known as Garrison’s Landing, but later renamed Bladensburg in honor of Thomas Bladen, then-Governor of Maryland. Bladensburg was chartered in 1742, and incorporated in 1854. The Town of Bladensburg had a population of 9,668 as of July 1, 2019.
The largest industries in Bladensburg, MD are Health Care & Social Assistance, Retail Trade, and Accommodation & Food Services, and the highest paying industries are Information, Public Administration, and Finance & Insurance. The most common jobs held by residents of Bladensburg, MD, by number of employees, are Office & Administrative Support Occupations, Construction & Extraction Occupations, and Food Preparation & Serving Related Occupations. Compared to other places, Bladensburg, MD has an unusually high number of residents working as Fire Fighting & Prevention, & Other Protective Service Workers including Supervisors, and Building & Grounds Cleaning & Maintenance Occupations. The highest paid jobs held by residents of Bladensburg, MD, by median earnings, are Business & Financial Operations Occupations, Education Information, & Library Occupations, and Computer, Engineering, & Science Occupations.
Ford’s Theater, the Franklin Delano Roosevelt Memorial and the Davis Warner House are a few of the many nearby historical sites. Nearby museums include the National Building Museum and the Airmen Memorial Museum. Rock Creek Regional Park is the local park, while golfers can enjoy a round at the East Potomac Public Golf Course or the White Oak Golf Course. Nearby attractions also includes Colvin Run Mill Historic Site, and Pentagon.
The nearest major airport is Ronald Reagan Washington National Airport. Another major airport is Baltimore/Washington International Thurgood Marshall Airport. Washington Dulles International Airport has international and domestic flights from Dulles, Virginia.
Located in the heart of the Baltimore/Washington corridor, the County borders Washington D.C. and is just 37 miles south of the city of Baltimore. Encompassing almost 500 square miles, Prince George’s County has an urban atmosphere that still manages to provide a scenic and peaceful place to live, work, and play. Population estimates as of July 1, 2018 was 909,308. The County’s centralized location and its rich diversity has attracted more than 15,760 businesses to its twenty-seven unique municipalities. Having a robust transportation system allows easy access to the region’s national and international airports and to the Port of Baltimore.
AREA OVERVIEW
14 NATIONAL NET LEASE GROUP
1 MILE 3 MILES 5 MILES
2019 Estimated Population 14,152 173,808 600,007
2024 Projected Population 14,530 180,037 631,192
Projected Annual Growth 2019 to 2024 0.53% 0.71% 1.02%
2019 Estimated Households 4,308 59,544 214,532
2024 Projected Households 4,387 61,381 225,574
Projected Annual Growth 2019 to 2024 0.36% 0.61% 1.01%
2019 Estimated Average Household Income $74,903 $81,232 $94,646
2019 Estimated Median Household Income $57,517 $59,285 $66,728
2019 Estimated Per Capita Income $22,852 $27,924 $34,153
2019 Estimated Total Businesses 802 4,777 15,920
2019 Estimated Total Employees 9,323 59,661 244,035
AREA DEMOGRAPHICS
RETAIL PROFESSIONALS
275+
OFFICES
25+
LARGEST REAL ESTATE SERVICES FIRMin North America
exclusively dedicated to retail
#1
RETAIL TRANSACTIONS
in 2019 company wide
2100+
PROPERTIES SOLD
in 2019 NNLG
485
TRANSACTION VALUE in 2019 NNLG
$1.5B
SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.
This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made
available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not
purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified
purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.
*Statistics are for 2019
SRSRE.COM/NNLG
