Fifth Third Bank (GL)

2605 Northwest 46th Terrace, Ocala, FL 34482

$2,841,000

Cap Rate 4.40%

Views: 19 DOM: 15 Updated: 11.06.24 Posted: 11.06.24 Status: Active

Summary

Price $2,841,000	Built/Renov 2024	Tenant Fifth Third Bank (GL)
Cap Rate 4.40%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,900	Lease Start 01-01-2025	#Units 1,100
Price/SF $1,495.26	Expiration 01-31-2045	Tenant Type Bank/Financial
NOI $125,000	R. Term 20.2	Ownership Ground Lease
Rent/SF $65.79	Increases 10.0%/5/yrs	Pop 5Mi 54,661
Lot/AC 0.92	Options 4/5yrs/10%	AHHI 5Mi $76,728

Lease Highlights

Brand new 2024 construction
Brand new 20-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years and at the beginning of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee (NASDAQ: FITB)
Investment grade tenant (S&P: A-)

Location Description

This newly constructed Fifth Third Bank is strategically located on US Hwy. 27 which sees 25,000 vehicles passing by daily. The site benefits from being just over a mile from Interstate 75 (90,000+ VPD), a major north-south highway that runs from Miami, Florida to Sault Ste. Marie, Michigan at the Canadian border, allowing users convenient on/off ramp access to the subject property and...

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Key Features

New construction
Freeway close
Highway location
Major MSA
Income tax free state
Brand new lease
Long 20+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Fifth Third Bank Wikipedia Fifth Third Bank Wikipedia Ocala, Florida Zip Code 34482 Broker Site Page Drone Video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fifth Third Bank
Guarantor:Corp T and Rated
Company:Fifth Third Bancorp
# Units:1,100
Tenant S&P: A-
Moody’s: A1
Stock: NASDAQ: FITB

About 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...

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Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27320 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20903 Views
49 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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