5201 College S Rd Wilmington, NC 28412-2209

Property Details for 5201 College S Rd

Year built

2000

Construction

STEEL FRAME

Lot size

1.13 lot acres

Property size

3,774 SF

Zone code

O&I,OFFICE & INSTITUTION

Property type

Banks

APN

R07600-002-001-000

APU

R07600002001000

Description

This exceptional investment opportunity presents a 3,855 square foot Class A retail property, currently occupied by Fifth Third Bank under a 20-year absolute NNN ground lease. The lease commenced November 4, 2024, and expires October 30, 2044, offering significant long-term stability. The property boasts a 4.75% cap rate and a substantial net operating income (NOI) of $190,000. Rent increases are structured with a 10% bump every five years, providing consistent growth potential. The tenant, Fifth Third Bank, is a Fortune 500 company with a strong corporate guarantee, mitigating risk. Situated on a 1.13-acre lot at 5201 College Rd, Wilmington, NC 28405, this strategically located property benefits from high visibility and accessibility, with over 300 linear feet of frontage on a busy thoroughfare. The property features two points of ingress and egress. The surrounding area is a thriving retail hub, with a low vacancy rate (1.3% within a one-mile radius) and high-traffic neighbors including Walmart, Lowe's, Chick-fil-A, and Wendy's. Built in 2000 and renovated in 2024, the property is in excellent condition. The lease includes four five-year renewal options. This is a rare opportunity to acquire a stable, high-performing asset in a rapidly growing market. Wilmington's robust economic growth, fueled by recent corporate expansions and job creation, further enhances the investment's long-term value.