Regions Bank | Ground Lease | Melbourne, FL

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Price: $3,412,000
Cap Rate: 5.75%

  • Strong Corporate Guaranty
  • Passive Investment Opportunity with No Landlord Responsibilities –
  • Top 23% in Deposits for Regions banks in the state of Florida
  • No State Income Tax
  • Attractive Retail Market
  • High Traffic Volume
  • Attractive Rental Increases
  • Strong Demographics

Regions (AMSOUTH Bank) executed a twenty (20) year ground lease in 2006 and has over nine (9) years of base term remaining on the lease. The corporate-guaranteed lease features four (4), five (5) year option periods with rare 12.5% rental increases during the base term and option periods. Regions has excellent access and visibility with two points of ingress/egress. The subject property is located just 3.7 miles from Satellite Beach and sits on the corner of the busy intersection of Eau Gallie Blvd (38,721 VPD) and N Riverside Drive (22,796 VPD). The area boasts excellent demographics with strong population density and high household incomes.

Price:$3,667,000
City:Melbourne
State:FL
Zip Code:32937
Square Feet:3,757
Lot Square Feet:38,769
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