SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Fifth Third Bank investment property located in Garner, North Carolina. The tenant, Fifth Third Bank, Inc., has approximately 5 years remaining on the initial 20 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 3% rental increases every year throughout the initial term and of each option period, steadily growing NOI and hedging against inflation. This lease is corporate guaranteed by Fifth Third Bank with an investment grade credit of S&P: A-. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. According to the FDIC this location has approximately $17.38M in deposits as of June 2019.

The Fifth Third Bank is located at the signalized, hard corner intersection of U.S. Highway 70 and the entrance of Garner Towne Square with a combined (34,000 VPD) that features a 4-lane drive thru including an ATM, providing ease and convenience for customers. The Fifth Third Bank is well positioned along prominent retail thoroughfare as an outparcel of Garner Towne that includes national/credit tenants such as Target, CVS Pharmacy, The Home Depot, Chick-Fil-A, Taco Bell, and more. Strong tenant synergy promotes crossover shopping to the subject property. A Forbes Study in 2019 found that the Raleigh MSA was the fourth fastest growing area in the United States with a growth rate of 20.5% since 2010. The 5-mile trade area is supported by a population of over 138,602 with an average household income of $71,495.