Bank

Fifth Third Bank

9450 W Linebaugh Ave, Tampa, FL 33626

Listing Price: $3,505,000

Cap Rate
5.70%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
7.0
Guarantor
Corporate Guarantee
Rentable SF
4,688
Lease Type
Ground Lease
Rent Per Square Feet
$42.59

Investment Overview

Marcus & Millichap is pleased to exclusively offer Fifth Third Bank located in Tampa, Florida. The property is located in the Westchase submarket of west Hillsborough County approximately 10 miles northwest of Downtown Tampa’s central business district. The property is strategically positioned adjacent to, and part of Westchase Town Center and surrounded by a dense population of higher income residents. In addition, average annual daily traffic exceeds 35,500 cars on West Linebaugh. Fifth Third Bank @ Westchase is offered at 5.70-percent cap rate or$3,505,000. The lease calls for a 10-percent increase in base rent on February 1, 2023 creating an average cap rate of 6.10-percent over the primary remaining term. Fifth Third Bank is publicly traded on the NASDAQ under ticker FTIB and is and investment grade (S&P: BBB+).

Investment Highlights

  • Absolute Net Ground Lease | More than seven years remaining on initial term
  • Publicly Traded & Investment Grade Tenant | Fifth Third Bank is traded on the NASDAQ exchange under ticker FITB and has a S&P credit rating of BBB+
  • Strong Deposits | Fifth Third Bank in Westchase is #6 ranking bank of 17 total Fifth Third branches in the Tampa-St. Petersburg MSA with 2020 deposits exceeding $56M
  • Excellent Returns | Listed at 5.70-percent cap rate with 10-percent increases every five years, average return over initial lease term is 6.10-percent

Exclusively Listed By

Listing Price: $3,505,000

Cap Rate
5.70%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
7.0
Guarantor
Corporate Guarantee
Rentable SF
4,688
Lease Type
Ground Lease
Rent Per Square Feet
$42.59

Investment Highlights

  • Absolute Net Ground Lease | More than seven years remaining on initial term
  • Publicly Traded & Investment Grade Tenant | Fifth Third Bank is traded on the NASDAQ exchange under ticker FITB and has a S&P credit rating of BBB+
  • Strong Deposits | Fifth Third Bank in Westchase is #6 ranking bank of 17 total Fifth Third branches in the Tampa-St. Petersburg MSA with 2020 deposits exceeding $56M
  • Excellent Returns | Listed at 5.70-percent cap rate with 10-percent increases every five years, average return over initial lease term is 6.10-percent

Investment Overview

Marcus & Millichap is pleased to exclusively offer Fifth Third Bank located in Tampa, Florida. The property is located in the Westchase submarket of west Hillsborough County approximately 10 miles northwest of Downtown Tampa’s central business district. The property is strategically positioned adjacent to, and part of Westchase Town Center and surrounded by a dense population of higher income residents. In addition, average annual daily traffic exceeds 35,500 cars on West Linebaugh. Fifth Third Bank @ Westchase is offered at 5.70-percent cap rate or$3,505,000. The lease calls for a 10-percent increase in base rent on February 1, 2023 creating an average cap rate of 6.10-percent over the primary remaining term. Fifth Third Bank is publicly traded on the NASDAQ under ticker FTIB and is and investment grade (S&P: BBB+).

Exclusively Listed By

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