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Wells Fargo: Ground Lease

5547 SE Federal Hwy, Stuart, FL 34997

Listing Price: $1,440,000

Cap Rate
4.75%
Tenant Name
Wells Fargo
Years Remaining On Lease
9.8
Gross SF
4,800
Guarantor
Corporate Guarantee
Rentable SF
4,800
Price/Gross SF
$300.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$14.26

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed, absolute-net Wells Fargo ground lease located in Stuart, Florida (The Sailfish Capital of the World). The property consists of a 4,800-square foot, freestanding building that sits on approximately .637 acres of land. There are ten (10) years remaining on a recently extended lease which includes fifteen percent (15%) escalations every five years and within the single five-year option. Wells Fargo and its predecessors have operated at this location for over forty (40) years. The property is an outparcel to a recently renovated Winn Dixie shopping center and is located at the intersection of Federal Hwy (US-1) and Salerno Rd, where combined traffic counts are approximately 50,000 vehicles per day. The area boasts very strong demographics with average home values above $600,000.00. The property is in immediate proximity to Willoughby Country Club, Stuart Yacht & Country Club, Murray Middle School, Port Salerno Elementary School, Indian River State College, Cleveland Clinic (Martin South), Summerfield Country Club, along with Lost Lake, Mariner Sands Country Clubs and others. Most importantly it is situated at the entrance of Manatee Pocket which is the harbor for all area waterways berthing countless marinas and restaurants at the mouth of the St. Lucie Inlet. Retailers in the immediate vicinity include but are not limited to: CVS, Truist, Walgreens, Wawa, TD Bank, 7-11, Jiffy Lube, Harley Davidson, Napa, Tire Kingdom, Toyota of Stuart, McDonalds, Publix, Bank of America, Chase, Walmart, and Lowes.

Investment Highlights

  • Recently Extended 10-Year, Absolute-net Lease
  • Standard & Poors: A-Credit
  • 15 Percent Escalations every 5-Years
  • 6.29 Percent Cap Over Lease
  • Tenancy at Subject Location Since 1977
  • Bank Deposits over $140 Million
  • 40 Percent Below Market Rent
  • Income Tax Free State

Exclusively Listed By

Financing By

Bank

Wells Fargo: Ground Lease

Listing Price: $1,440,000

Cap Rate
4.75%
Tenant Name
Wells Fargo
Years Remaining On Lease
9.8
Gross SF
4,800
Guarantor
Corporate Guarantee
Rentable SF
4,800
Price/Gross SF
$300.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$14.26

Investment Highlights

  • Recently Extended 10-Year, Absolute-net Lease
  • Standard & Poors: A-Credit
  • 15 Percent Escalations every 5-Years
  • 6.29 Percent Cap Over Lease
  • Tenancy at Subject Location Since 1977
  • Bank Deposits over $140 Million
  • 40 Percent Below Market Rent
  • Income Tax Free State

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed, absolute-net Wells Fargo ground lease located in Stuart, Florida (The Sailfish Capital of the World). The property consists of a 4,800-square foot, freestanding building that sits on approximately .637 acres of land. There are ten (10) years remaining on a recently extended lease which includes fifteen percent (15%) escalations every five years and within the single five-year option. Wells Fargo and its predecessors have operated at this location for over forty (40) years. The property is an outparcel to a recently renovated Winn Dixie shopping center and is located at the intersection of Federal Hwy (US-1) and Salerno Rd, where combined traffic counts are approximately 50,000 vehicles per day. The area boasts very strong demographics with average home values above $600,000.00. The property is in immediate proximity to Willoughby Country Club, Stuart Yacht & Country Club, Murray Middle School, Port Salerno Elementary School, Indian River State College, Cleveland Clinic (Martin South), Summerfield Country Club, along with Lost Lake, Mariner Sands Country Clubs and others. Most importantly it is situated at the entrance of Manatee Pocket which is the harbor for all area waterways berthing countless marinas and restaurants at the mouth of the St. Lucie Inlet. Retailers in the immediate vicinity include but are not limited to: CVS, Truist, Walgreens, Wawa, TD Bank, 7-11, Jiffy Lube, Harley Davidson, Napa, Tire Kingdom, Toyota of Stuart, McDonalds, Publix, Bank of America, Chase, Walmart, and Lowes.

Exclusively Listed By

Financing By

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