Fifth Third Bank

13794 Highway 9, Milton, GA 30004

$2,670,000

Cap Rate 4.49%

Views: 28 DOM: 89 Updated: 05.11.24 Posted: 02.18.24 Status: Active

Summary

Price $2,670,000	Built/Renov 2001/2024	Tenant Fifth Third Bank
Cap Rate 4.49%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,356	Lease Start 02-01-2024	#Units 1,087
Price/SF $795.59	Expiration 02-01-2039	Tenant Type Bank/Financial
NOI $120,000	R. Term 14.8	Ownership Fee Simple
Rent/SF $35.76	Increases 10.0%/5/yrs	Pop 5Mi 135,458
Lot/AC 0.82	Options 4/5yrs/10%	AHHI 5Mi $184,969

Michael Berk

SRS National Net Lease Group

Contact

Lease Highlights

Fifth Third Bank recently executed a brand-new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Fifth Third is strategically located on State Highway 9, with access to 22,300 vehicles passing by daily. The property is situated right next to Cambridge High School and King’s Ridge Christian School. The dense trade area is supported by several shopping centers that feature national retailers such as Publix, Planet Fitness, Target, Kohl’s, Kroger, Walmart Supercenter, and more. The 5-mile...

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Key Features

Recent renovation
Dense retail corridor
Shopping Ctr out-parcel
Highway location
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Traded and rated company
Investment grade tenant

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Links

Fifth Third Bank Wikipedia Fifth Third Bank Wikipedia Milton, Georgia Zip Code 30004 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fifth Third Bank
Guarantor:Corp T and Rated
Company:Fifth Third Bancorp
# Units:1,087
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: FITB

About Tenant

Fifth Third Bank, a subsidiary of Fifth Third Bancorp, is a diversified financial services company. As of December 31, 2022, Fifth Third had $207 billion in assets and operates 1,087 full-service...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,723	53,017	137,185
2023 Total Population :	7,613	52,537	135,458
2023 Employed Civilian Pop :	4,229	29,249	72,790
2023 Total Businesses :	132	2,751	7,372
2023 Average Household Income :	$ 137,736	$ 161,628	$ 184,969
2023 Total Consumer Spending :	$ 302 M	$ 2683 M	$ 7561 M
2023 Median Age :	36	37	38
2023 Total Households :	2,595	19,724	48,718
2023 Pop Age 25+: Bachelor's Degree :	1,929	14,122	38,378
2023 Average Home Value :	$ 420,732	$ 528,867	$ 563,642

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Hwy 9 N	Keyingham Way	2013	19,100	0.43 mi
Bethany Bend	Bethany Rd	2013	3,830	0.43 mi
Bethany Road		2019	6,570	0.55 mi
Cogburn Road	The Hermitage Dr	2021	13,400	0.61 mi
Cogburn Road	The Hermitage Dr	2018	13,400	0.61 mi
Cogburn Road		2019	13,500	0.61 mi
Alpharetta Highway	Five Acre Rd	2018	15,900	0.64 mi
Alpharetta Highway		2019	16,000	0.64 mi
Bethany Bend	Bethany Church Rd	2013	6,940	0.64 mi
Alpharetta Highway		2019	19,700	0.65 mi

Listing Broker

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