Fifth Third Bank (GL)

480 West Liberty Street, Wauconda, IL 60084

$3,600,000

Cap Rate 4.72%

$3,777,867

Cap Rate 4.50%

Views: 143 DOM: 84 Updated: 07.11.23 Posted: 05.16.23 Status: Sold 08.09.23

Summary

Price $3,600,000 $3,777,867	Built/Renov 2022	Tenant Fifth Third Bank (GL)
Cap Rate 4.72% 4.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,400	Lease Start 01-01-2023	#Units 1,087
Price/SF $1,500.00 $1,574.11	Expiration 01-31-2038	Tenant Type Bank/Financial
NOI $170,004	R. Term 12.10	Ownership Ground Lease
Rent/SF $70.84	Increases 10.0%/5/yrs	Pop 5Mi 69,810
Lot/AC 0.71	Options 5/5yrs/10%	AHHI 5Mi $160,802

Lease Highlights

Brand-new long-term 10-year lease with 5 (5-year) options to extend
The ground lease features a 10% rental increase every 5 years
Absolute NNN lease with zero landlord responsibilities
Fifth third bank is a publicly traded company (NASDAQ: FITB)
Corporate guaranteed by Fifth Third Bancorp

Location Description

This newly constructed Fifth Third Bank is strategically located along West Liberty Street with access to 12,800 vehicles per day. The site is located less than a quarter mile from the on/off ramp to State Highway 12 (31,600 VPD) further increasing consumer traffic to the area. Positioned opposite Liberty Square Shopping Center; nearby national retailers include Ace Hardware, Dunkin’, Burger...

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Key Features

New construction
Strategically located
Strong tenant synergy
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Absolute NNN
Long 10+ yr lease
Investment grade tenant

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Links

Fifth Third Bank Wikipedia Fifth Third Bank Wikipedia Wauconda, Illinois Zip Code 60084 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: 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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,341	26,327	69,666
2023 Total Population :	6,483	26,781	70,550
2023 Employed Civilian Pop :	3,445	13,965	37,642
2023 Total Businesses :	270	918	1,995
2023 Average Household Income :	$ 104,938	$ 137,039	$ 158,685
2023 Total Consumer Spending :	$ 225 M	$ 1239 M	$ 3468 M
2023 Median Age :	41	44	42
2023 Total Households :	2,530	10,684	25,968
2023 Pop Age 25+: Bachelor's Degree :	1,285	6,030	16,712
2023 Average Home Value :	$ 278,019	$ 361,635	$ 385,764

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Liberty St	Brown St	2014	13,800	0.10 mi
IL 176		2021	10,700	0.12 mi
US 12;IL 59	W Liberty St	2021	35,100	0.23 mi
		2019	17,700	0.26 mi
Slocum Lake Rd	Francis St	2007	3,950	0.27 mi
Slocum Lake Rd	W Slocum Lake Rd	2007	3,950	0.31 mi
S Rand Rd	W Liberty St	2014	31,600	0.31 mi
W Liberty St	S Church St	2014	13,800	0.34 mi
Slocum Lake Rd	Osage St	2007	3,950	0.35 mi
W Liberty St	Larkdale Row	2014	18,800	0.36 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
31080 Views
67 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
28811 Views
62 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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