SEC. N. Wickham Road and Business Center Boulevard - Bank FOR SALE
Melbourne, FL 32940 |
$3,227,000 USD
954-302-7365
SEC. N. Wickham Road and Business Center Boulevard
Melbourne, FL 32940
HIGHLIGHTS
- Brand New 20-Year Lease | Investment Grade Tenant (S&P: A-) | 10% Rental Increases | Options To Extend
- Absolute NNN Ground Lease | Land Ownership | No State Income Tax Zero Landlord Responsibilities
- Signalized, Hard Corner Intersection | Part of Larger Center | EoS Fitness & Sprouts (Anchor Tenants) | I-95 | 5 Miles From Viera
- Melbourne, FL - New Multi-Family Developments
- Strong Demographics In 5-mile Trade Area | Six-Figure Incomes
OVERVIEW
• 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
FOR SALE DETAILS
PRICE
$3,227,000 USD
PRICE/SF
$1,698 USD /SF
CAP RATE
4.4%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
Fifth Third Bank - Melbourne FL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Bank
ADD'L SUBTYPES
Freestanding, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2025
SPRINKLERS
-
PARKING SPACES
13
LAND DETAILS
LAND ACRES
1 AC
LAND SF
43,560 SF
ZONING
C2
APN/PARCEL ID
26-37-30-50-00000.0-0001.01
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954-302-7365
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954-302-7365
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