This investment offering features an approximately 15,548 square foot freestanding Bank Location, located along North Grove Street in Eustis, FL. Wachovia Bank originally signed a seven-year lease at this location in 2003 and exercised a five-year renewal option in February 2010. Shortly thereafter, Wells Fargo took over the lease following its merger with Wachovia. Wells Fargo and the current owner recently negotiated a new five-year term, which extends the current lease expiration to August 31, 2020.
The site features three drive-through lanes and is located at the corner of East Magnolia Avenue and State Route 19 (North Grove Street). Route 19 is the main north/south corridor through Eustis. The subject property is centrally located in the downtown area. Wells Fargo is across from City Hall and is one block from the Eustis Library. It is also within blocks of various local retailers, office users as well as national tenants such as Ace Hardware, Bank of America, Edward Jones, and Badcock & More. Directly adjacent to the Bank Location sits the Fountain Green Park and just three block west is Lake Eustis.
