Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$1,118,048
Fifth Third Bank Ground Lease
Details
Property Type Retail
Sub Type Bank
Square Footage 6,141
Cap Rate 6.25%
NOI $69,878
Occupancy 100%
Tenancy Single
Brand/Tenant Fifth Third Bank
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 03/31/2031
Remaining Term 5
Rent Bumps Yes
Lease Options 3, 5 Year Options
Year Built 2006
Acreage 1.153
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 03/02/2006
Ground Lease Yes
Abs NNN Corporate Ground Lease | New 5-Yr Extension | 30 Miles East of Dayton, OH
Marketing description
Fifth Third Bancorp is a bank holding company headquartered in Cincinnati, Ohio. It is the parent company of Fifth Third Bank, which operates over 1,000 branches and 2,400 automated teller machines across 12 states.
Springfield is a city in, and the county seat of, Clark County, Ohio. The city lies in southwestern Ohio, roughly 45 miles west of Columbus and 25 miles northeast of Dayton. The city is home to over 58,600 residents. The surrounding Clark County area is home to over 136,000 residents.
Investment highlights
- Absolute NNN Ground Lease - New 5 Year Extension, Showing Commitment to the Site
- 5% Rental Increases Every 5 Years with Multiple Renewal Options
- Outparcel to Walmart Supercenter
- Adjacent to ±1,500 New Single-Family and Multi-Family Homes in Development
- Easily Accessible Location 3 Miles Off Interstate 70 and Along East National Road, Providing Direct Access into Downtown Springfield
- 73,195 Residents within a 5-Mile Radius
- Minutes from Buck Creek State Park, a Tourist Destination Featuring a 2,120-Acre Lake
- Down the Road from the Prime Ohio Corporate Park, Home to Distribution Centers for ALDI, Gordon Food Service, and Dole Foods
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$69,878.00
$5,823.17/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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