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Fifth Third Bank - Melbourne FL SEC. N. Wickham Road and Business Center Boulevard 1,900 SF Retail Building Melbourne, FL 32940 $3,120,000 ($1,642.11/SF) 4.55% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 20-Year Lease | Investment Grade Tenant (S&P: A-) | 10% Rental Increases | Options To Extend
- Signalized, Hard Corner Intersection | Part of Larger Center | EoS Fitness & Sprouts (Anchor Tenants) | I-95 | 5 Miles From Viera
- Strong Demographics In 5-mile Trade Area | Six-Figure Incomes
- Absolute NNN Ground Lease | Land Ownership | No State Income Tax Zero Landlord Responsibilities
- Melbourne, FL - New Multi-Family Developments
EXECUTIVE SUMMARY
• Brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The tenant, Fifth Third Bank, is an investment grade tenant (S&P: A-) with more than 1,000 locations
• The lease features 10% rental increases every 5 years and at the beginning of each option period, boosting NOI and hedging against inflation
• The tenant, Fifth Third Bank, is an investment grade tenant (S&P: A-) with more than 1,000 locations
• The lease features 10% rental increases every 5 years and at the beginning of each option period, boosting NOI and hedging against inflation
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
1,900 SF
Building Class
B
Year Built
2025
Price
$3,120,000
Price Per SF
$1,642.11
Cap Rate
4.55%
NOI
$142,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.00 AC
Zoning
C2 - General Commercial District
Parking
13 Spaces (6.84 Spaces per 1,000 SF Leased)
Frontage
185’ on North Wickham Road
AMENITIES
- Banking
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
Fifth Third Bank
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Fifth Third Bank - Melbourne FL | SEC. N. Wickham Road and Business Center Boulevard
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