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 |
