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Fifth Third Bank 1145 US Highway 70 W 2,872 SF Retail Building Garner, NC 27529 $5,276,035 ($1,837.06/SF) 5.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Corporate Guarantee
- Diversified Revenue and Strong Retail Banking Performance
- Outparcel to Major Shopping Center with Strong Surrounding Traffic
EXECUTIVE SUMMARY
Surmount is pleased to present a Fifth Third Bank located at 1145 US Highway 70 W, Garner, NC, 73401. The site consists of roughly 2,872 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Fifth Third Bank is subject to a 20-year Triple Net (NNN) lease, which commenced 12/1/2005. The current annual rent is $298,096 and has scheduled increases of 10.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
2,872 SF
Building Class
B
Year Built
1998
Price
$5,276,035
Price Per SF
$1,837.06
Cap Rate
5.65%
NOI
$298,096
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.90 AC
Zoning
Commercial
Frontage
100’ on Us-70 Hwy
AMENITIES
- Banking
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
Fifth Third Bank
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Fifth Third Bank | 1145 US Highway 70 W
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