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| Price $4,842,000 | Built/Renov 2013/2024 | Tenant Fifth Third Bank (GL) |
| Cap Rate 4.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
2,400
| Lease Start
08-15-2024
| #Units
1,100
|
| Price/SF $2,017.50 | Expiration
08-31-2044
| Tenant Type Bank/Financial |
| NOI $230,000 | R. Term 19.9 | Ownership Ground Lease |
| Rent/SF
$95.83
| Increases 8.0%/5/yrs | Pop 5Mi 131,362 |
| Lot/AC 0.53 | Options 4/5yrs/8% | AHHI 5Mi $96,978 |
| | |
Fifth Third Bank is strategically located on North Main Street and Azalea Square, with access to a substantial combined daily traffic count of 56,400 vehicles. The property serves as the main entrance to Azalea Square Shopping Center, a power center housing well-known national tenants such as Target, Kohl’s, T.J. Maxx, and Best Buy. The 5-mile trade area is supported by a population of 131,362...
...Signalized intersection
Recent renovation
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Traded and rated company
Investment grade tenant
Fifth Third Bank, a subsidiary of Fifth Third Bancorp, is a diversified financial services company. As of March 2023, Fifth Third had $171 billion in assets and operated more than 1,100...
| 1 Miles | 3 Miles | 5 Miles | |
| 2029 Total Population : | 7,896 | 49,970 | 145,758 |
| 2024 Total Population : | 7,210 | 45,700 | 135,270 |
| 2024 Employed Civilian Pop : | 4,014 | 23,078 | 68,347 |
| 2024 Total Businesses : | 567 | 1,837 | 3,514 |
| 2024 Average Household Income : | $ 96,107 | $ 100,747 | $ 99,045 |
| 2024 Total Consumer Spending : | $ 262 M | $ 1586 M | $ 4540 M |
| 2024 Median Age : | 37 | 38 | 38 |
| 2024 Total Households : | 3,105 | 17,985 | 52,167 |
| 2024 Pop Age 25+: Bachelor's Degree : | 1,017 | 5,302 | 16,929 |
| 2024 Average Home Value : | $ 345,498 | $ 349,002 | $ 343,497 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| North Main Street | Holiday Dr | 2022 | 56,400 | 0.21 mi |
| Berlin Myers Parkway | Marymeade Dr | 2022 | 33,300 | 0.46 mi |
| North Main Street | E 9th North St | 2022 | 30,700 | 0.52 mi |
| N Main St | 2022 | 80,300 | 0.59 mi | |
| I 26 | Barnwell St | 2021 | 82,600 | 0.59 mi |
| Berlin G Myers Parkway | Grandview Dr | 2021 | 29,300 | 0.80 mi |
| Berlin G Myers Parkway | E 5th St N | 2022 | 32,600 | 0.80 mi |
| N Main St | E 7th North St | 2005 | 24,300 | 0.81 mi |
| North Hickory Street | Bellflower Dr | 2021 | 100 | 1.02 mi |
| East 5th Street North | Strobel Ln | 2022 | 15,000 | 1.05 mi |
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
