Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Fifth Third Bank investment property located in Wendell, North Carolina (Raleigh MSA). The tenant, Fifth Third Bank N.A., recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Fifth Third Bank N.A. is an investment grade tenant (S&P: A-) with more than 1,000 locations.

The Fifth Third Bank is located near the signalized, hard corner intersection of Wendell Falls Pkwy and Taylor Rd. The subject property benefits from nearby direct on/off ramp access to I-87, a major thoroughfare serving the state of North Carolina averaging 62,000 vehicles per day. The subject property is strategically located at the signalized, hard corner intersection of Wendell Falls Pkwy and Taylor Rd. The subject property is nearby multiple national/credit tenants including Publix, McDonald’s, Chipotle, Starbucks, Jersey Mike’s, City BBQ, Bojangles, Exxon, Wendy’s, Kindercare, AFC Urgent Care and many more. The Fifth Third Bank will be a newly-constructed building that features state-of-the-art design and high-quality materials. The site has excellent visibility via significant street frontage and a large pylon sign. The 5-mile trade area is supported by a population of over 53,000 and 11,000 employees, providing a direct consumer base from which to draw. The 1-mile trade area boasts an affluent average household income of $112,626.

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