Listed by Atlantic Capital Partners
$3,368,000
Fifth Third Bank | Weaverville, NC
Details
Property Type Retail
Sub Type Bank
Square Footage 2,301
Net Rentable (SqFt) 2,301
Cap Rate 4.75%
NOI $160,000
Occupancy 100%
Tenancy Single
Brand/Tenant Fifth Third
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 11/15/2045
Remaining Term 19.5
Rent Bumps Yes
Lease Options 4 x 5-year options
Price per SqFt $1,495
Broker Co-Op Yes
Year Built 2025
Acreage 0.700
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/15/2025
Ground Lease Yes
Ownership Fee Simple
4.75% CAP | 20-YEAR GROUND LEASE | GROCERY ANCHORED OUTPARCEL
Investment highlights
INVESTMENT GRADE TENANT
- Fifth Third Bank is a Fortune 500 company with over $164B held in deposits
- Revenue increased 35% YoY
- S&P Rating: A-
STRONG LEASE FUNDAMENTALS
- 10% rent increase every 5 years during option periods
- Absolute NNN Ground lease with no Landlord Responsibilities
- Four (4) - Five (5) year option periods
GROCERY ANCHORED OUTPARCEL
- This Fifth Third Bank site is an outparcel to an Ingles grocery store
- The Ingles is in the 90th percentile nationally in visits
- Excellent visibility from Weaver Blvd, which serves as the connector between I-26 and downtown Weaverville
BANKING DEMAND DRIVER
- Branch location adjacent to Ingles Markets headquarters and distribution hub (major regional employer)
- Weaverville is a commuter town for Asheville professionals, supporting steady demand for financial services
LOCATED IN LOW VACANCY AND HIGH DEMAND RETAIL CORRIDOR
- Located on Weaver Boulevard, the primary retail artery in Weaverville
- Traffic counts exceed 15,000 vehicles per day (VPD) on Weaver Blvd
- Over 917K SF of Retail boasting a 0.2% vacancy rate
- 11.6K SF of absorption
- Immediate trade area includes Walmart Supercenter, Ingles, Lowe's, CVS, McDonald's, and Starbucks
LOCATED IN AFFLUENT MARKET OF ASHEVILLE MSA
- Just 15 minutes north of downtown Asheville
- AHHI exceeds 105K in 1, 3, and 5 mile radius
- One of the fastest growing cities in the country with 13.4% growth from 2010 to 2020
- Asheville Regional Airport saw 2 million+ passengers in 2023, underscoring regional economic strength
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,000.00
$13,333.33/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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