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Views: 48 DOM: 189 Updated: 04.25.24 Posted: 11.10.23 Status: Active

Summary

Price $3,816,000
Built/Renov 2008
Tenant Fifth Third Bank (GL)
Cap Rate 7.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,266
Lease Start 09-01-2008
#Units 1,087
Price/SF $894.51
Expiration 09-30-2028
Tenant Type Bank/Financial
NOI $272,855
R. Term 4.4
Ownership Ground Lease
Rent/SF $63.96
Increases 10.0%/5/yrs
Pop 5Mi 198,428
Lot/AC 1.26
Options 4/5yrs/10%
AHHI 5Mi $90,235

Lease Highlights

  • Fifth Third Bank has 4+ years remaining on the current ground lease with 4 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Fifth Third Bank is conveniently positioned along US-34, a main arterial road which sees an approximate traffic count of 24,000 vehicles per day. It is a pad to both Walmart and Meijer anchored shopping centers, and is also surrounded by Target, The Home Depot, Hobby Lobby, Kohl’s, Burlington, and many others, creating a strong drive to the trade area and promoting crossover traffic to the...

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Maps

  • 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: A-
  • Moody’s: Baa1
  • Stock: NASDAQ: FITB

About Tenant

Fifth Third Bank is a subsidiary of Fifth Third Bancorp, 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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
2010 1,700 0.11 mi
Oswego Rd Douglas Rd 2013 28,300 0.17 mi
US 034 2021 24,400 0.17 mi
Heritage Dr Plymouth Ct 2010 2,650 0.19 mi
Douglas Rd Oswego Rd 2010 11,600 0.26 mi
Douglas Rd Oswego Rd 2010 16,100 0.28 mi
Oswego Rd Heritage Dr 2013 28,300 0.35 mi
Douglas Rd Barnaby Dr 2010 14,300 0.36 mi
Oswego Rd Douglas Rd 2013 26,000 0.39 mi
Douglas Rd Bluegrass Pkwy 2010 7,400 0.43 mi

Listing Broker

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