Purchase question on a NNN Bank

[Luis Torres]

For a lender
What docs would I have to provide to buy a NNN Bank?

What Percentage over the price would the fees be +/-

[Stuart Udis]

Can you secure financing on a NNN lease? Sure. 10 Year I/O.....likely not. Is a retail bank branch the type of NNN tenant I would personally be excited to have as a tenant? No. Brick and mortar branches scare me right now. The concept won't become completely obsolete but the need is certainly diminishing. I personally have nearly the same experience in almost every retail bank I enter these days....skeleton staff providing slow service. Seems almost intentional to push clients to use their online banking platforms. I suspect even the banks who are aggressively expanding are doing so merely to sure up their geographical presence to in order to expand their customer base but will then pull back on their branch numbers.

Unless there is significant term remaining on the lease, there are other retail concepts that would be deemed more marketable. I believe the land where many of these brick and mortar locations exist may ultimately be the prize because they are often well situated.