The subject property is a freestanding Fifth Third Bank at the east entrance to Westchase Town Center in Tampa, FL. Fifth Third Bank is on a triple-net (NNN) ground lease with 8± years remaining on the term with a 10% rental increase in 2023. The subject benefits from its proximity to the adjcent shopping centers, restaurants and affluent communities. The surrounding submarket has a high population of 100,143 residents and an average household income of $86,379 within a 3-mile radius. The subject represents a successful Fifth Third Bank branch in a desirable location with a high population density and outstanding annual deposits.
10% rental increases every five years (last increase 2/1/18).
20-year initial lease with 8 years remaining.
Four options to renew for five years each.
Investment grade tenant.
HIGH DEPOSIT BRANCH (latest FDIC report shows deposits exceed $52 million).
Located in the Westchase Town Center, a mixed use center that is home to the first World of Beer, Tijuana Flats & Burger 21.
Located on W Linebaugh Ave across the street from Westchase Elementary and approximately 0.6 miles from the traffic light at Sheldon Ave. in the highly desirable Westchase master planned development.
Excellent Visibility along West Linebaugh Ave.
Approximately 3 miles from Westfield Citrus Park Mall, 7 miles from Tampa International Airport, 11 miles from Busch Gardens, 12 miles from USF, 13 miles from Downtown Tampa & 20 miles from Clearwater Beach.
- Property Type
Retail
- Submarket
- Construction Status
Under Construction
- Year Built
2008
- Total Acres
0.11
- Zoning
Commercial
- Property ID
1251507
