SunTrust - Dayton Blvd - Chattanooga, TN

3513 Dayton Boulevard
Chattanooga, TN 37415

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in an absolute NNN leased SunTrust Bank (the “Property” or “Asset”) located in Chattanooga, Tennessee. The property is a freestanding retail building that is tenanted by SunTrust Bank and is corporately guaranteed by SunTrust Banks, Inc. (NYSE: STI). The tenant is on a absolute NNN lease with 10.5 years of lease term remaining. The Property is strategically positioned along Dayton Blvd., which see outstanding daily traffic counts of over 16,000 vehicles. The Asset has $51.1 million in deposits and deposit numbers have been upward trending over the last few years, up 13.37% from 2015.
  • Primary Broker

    Peter Bauman - Net Lease Broker
    Peter Bauman
    (602) 282-6289

  • Secondary Broker(s)

    Tivon Moffitt - Net Lease Broker
    Tivon Moffitt
    (602) 282-6348

  • In-State Licensee

    Russ Westlake - Net Lease Broker
    Russ Westlake
    TN

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Investment Highlights
• Absolute NNN Lease with Over 10 Years of Term Remaining
• Corporate Guarantee Leased to an Investment Grade Tenant (S&P: A-)
• Excellent 1031 Exchange Option at Low Price Point
• Location in Income Tax Free State
• Chattanooga is the Fourth Largest City in Tennessee
• High Deposit Base as Reported to the FDIC
General
Property Type Retail
Property Address 3513 Dayton Boulevard
Chattanooga, TN 37415
Market TN-Chattanooga
Land In Acres 0.59
Building Size 3,231 Square Feet
Primary Use Bank
Year Built 2008
Tenancy Single-Tenant
Financial
Price $1,623,050
Price PSF $502.34
Cap Rate 6.00%
Current NOI $97,383
Lease
Tenant Name SunTrust Bank
Guarantor SunTrust Bank
Lease Type NNN
Annual Rent $97,383
Rent Escalations 1.5% Annually
Options Six (6) Five-Year Options
Lease Expiration Date 9/30/2028
Remaining Term 10.1Yrs