Truist 9909 Hagen Ranch Rd 3,773 SF Retail Building Boynton Beach, FL 33437 $6,979,265 CAD ($1,849.79 CAD/SF) 7.65% Cap Rate

Marcus & Millichap is pleased to present for sale the ground leased interest in this Absolute Net Leased Truist Bank branch located at 9909 Hagen Ranch Road in Boynton Beach, Florida within the Palm Beach MSA. The subject property features a 3,773 SF free-standing building with three drive-thru lanes and an ATM, situated on a spacious 0.94-acre parcel.
Strategically located at the hard-signalized intersection of Boynton Beach Boulevard, a major east-west thoroughfare, and Hagen Ranch Road, the property boasts exceptional intrinsic value, outstanding visibility, and high traffic counts exceeding 44,000 vehicles per day. The Truist sits adjacent to a newly developed Whole Foods Market and across the street from a highly trafficked Target. The property is also conveniently located across from Baptist Health City, a comprehensive medical facility offering a wide array of healthcare services, including Diagnostic Imaging, Primary Care, Neurological services, and more. The immediate trade area is also home to Whole Foods Market, Wendy’s, El Car Wash, Target, Publix, LA Fitness, CVS, Wawa, Sprouts Farmers Market and numerous other National and Regional Tenants. Additionally, the property benefits from tremendous demographics and an affluent area, with average household incomes exceeding $119,000 in the immediate trade area.
Boynton Beach is a thriving coastal city located in Palm Beach County, within the Miami-Fort Lauderdale-West Palm Beach MSA. Known for its strong demographics, growing economy, and strategic location, Boynton Beach offers a blend of residential, retail, and commercial development.
Truist Bank executed a 20-year absolute NNN lease upon completion of the build-to-suit construction in 2010, extending through March 2030. The lease includes 12.5% rent increases every five years and grants the tenant four additional 5-year renewal options. The lease is backed by Truist, an investmentgrade (S&P: A-) financial institution, ensuring a highly secure and reliable income stream.
Truist Bank (S&P: A-), a subsidiary of Truist Financial Corporation (NYSE: TFC), is one of the largest financial institutions in the United States. Formed through the merger of BB&T and SunTrust in 2019, Truist is headquartered in Charlotte, NC, and operates a robust network of approximately 2,100 branches and more than 3,000 ATMs across multiple states. The company manages over $535 billion in assets and provides a comprehensive range of retail, commercial, and wealth management services, making it a strong and stable investment-grade tenant.