Fifth Third Bank | 5201 S College Rd
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Fifth Third Bank 5201 S College Rd
3,855 SF Retail Building Wilmington, NC 28412 $4,000,000 ($1,038/SF) 4.75% Cap Rate
Investment Highlights
- EASILY ACCESSIBLE WITH GREAT FRONTAGE ON MAJOR COMMUTER THOROUGHFARE
- INVESTMENT GRADE TENANT
- ATTRACTIVE LEASE FUNDAMENTALS
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- 10% rent increase every 5 years and during options periods
- Absolute NNN Ground lease with no Landlord Responsibilities
- Four (4) - Five (5) year option periods
INDUSTRY GROWTH
- In 2022, Wilmington approved incentives for four major companies in the area - GE, Port City Logistics, Live Oak Bank, and MegaCorp and the city gained more than 1,000 jobs and $125 million in capital investments
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-
EASILY ACCESSIBLE WITH GREAT FRONTAGE ON MAJOR COMMUTER THOROUGHFARE
- Two Points of ingress and egress on College Rd
- Over 300 linear feet of frontage on College Rd
LOCATED IN STRONG RETAIL NODE
- Over 1.1MSF in a 1-mile radius of the subject site
- Vacancy rate among retailers in one mile radius is 1.3%
- Across the street from a top performing Walmart (2.7M Visits YoY - Top 79th Percentile Nationally) and Lowes Home Improvement
- Other nearby tenants: Chick-Fil-A, Wendy’s and much more
WILMINGTON MSA
- One of the fastest growing cities in the US, Wilmington’s population grew 7.98% since 2020 and is ranked number nine on the US News national list
- According to the Milken Institute, Wilmington was ranked 7th best preforming cities out of 200 comparable sized cities
- 10% rent increase every 5 years and during options periods
- Absolute NNN Ground lease with no Landlord Responsibilities
- Four (4) - Five (5) year option periods
INDUSTRY GROWTH
- In 2022, Wilmington approved incentives for four major companies in the area - GE, Port City Logistics, Live Oak Bank, and MegaCorp and the city gained more than 1,000 jobs and $125 million in capital investments
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-
EASILY ACCESSIBLE WITH GREAT FRONTAGE ON MAJOR COMMUTER THOROUGHFARE
- Two Points of ingress and egress on College Rd
- Over 300 linear feet of frontage on College Rd
LOCATED IN STRONG RETAIL NODE
- Over 1.1MSF in a 1-mile radius of the subject site
- Vacancy rate among retailers in one mile radius is 1.3%
- Across the street from a top performing Walmart (2.7M Visits YoY - Top 79th Percentile Nationally) and Lowes Home Improvement
- Other nearby tenants: Chick-Fil-A, Wendy’s and much more
WILMINGTON MSA
- One of the fastest growing cities in the US, Wilmington’s population grew 7.98% since 2020 and is ranked number nine on the US News national list
- According to the Milken Institute, Wilmington was ranked 7th best preforming cities out of 200 comparable sized cities
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,855 SF
Building Class
B
Year Built/Renovated
2000/2024
Price
$4,000,000
Price Per SF
$1,038
Cap Rate
4.75%
NOI
$190,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.13 AC
Zoning
CZD - O&I - No restrictions to New Hanover County permitted uses for O&I. CZD references the conditions placed by the Junction Creek Park Covenants & Restrictions
Parking
50 Spaces (12.97 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Banking
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R07600-002-001-000 | Improvements Assessment | $1,073,600 |
| Land Assessment | $521,300 | Total Assessment | $1,594,900 |
PROPERTY TAXES
Parcel Number
R07600-002-001-000
Land Assessment
$521,300
Improvements Assessment
$1,073,600
Total Assessment
$1,594,900
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Fifth Third Bank | 5201 S College Rd
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