Looking to buy a Fifth Third Bank NNN property? 17 are observed for sale across 8 states, median asking cap rate 4.50%. View Fifth Third Bank NNN properties for sale, cap rate bands and the 1031 buyer guide.
Fifth Third Bank is the banking subsidiary of Fifth Third Bancorp (Nasdaq: FITB), headquartered in Cincinnati, Ohio. For net lease investors, a Fifth Third Bank branch lease is an obligation of a regulated bank when Fifth Third Bank, National Association is the tenant or guarantor, and the bank’s credit, the lease terms and the branch’s location drive value.
| Metric | Details |
|---|---|
| Parent company | Fifth Third Bancorp (Nasdaq: FITB), Cincinnati, Ohio |
| Bank subsidiary | Fifth Third Bank, National Association |
| S&P / Moody’s (bank senior debt) | A- (Stable) / A3 (Negative) |
| Investment grade status | Investment Grade |
| Branches | About 1,500 full-service banking centers and 2,648 ATMs in 15 states (June 30, 2026), after the Comerica acquisition |
| Footprint | Ohio, Michigan, Illinois, Indiana, Kentucky, Tennessee, West Virginia, Florida, Georgia, North Carolina, South Carolina and Alabama, plus the former Comerica markets added in February 2026 |
| Total assets | About $300 billion (June 30, 2026) |
| Branch real estate | At December 31, 2025, before the Comerica acquisition: 713 banking centers owned, 185 leased and 232 in owned buildings on leased land |
| Median asking cap rate | See the live table below |
Fifth Third Bank Credit Profile
Ratings shown here come from our tenant ratings database, which records each rating’s source and date: Fifth Third Bank, National Association senior debt is rated S&P A- (Stable) and Moody’s A3 (Negative). A rating at or above BBB‑/Baa3 is investment grade. Fifth Third Bancorp, the holding company, and Fifth Third Bank, National Association carry separate ratings (Form 10‑Q for the quarter ended June 30, 2026), so confirm the named tenant and which rating applies to it. For how the scale works, see the investment grade guide.
Source: S&P Global Ratings A-, Stable, as of August 4, 2026; Moody’s A3, Negative, as of August 4, 2026; Fitch Ratings A-, Stable, as of August 4, 2026. Ratings checked October 8, 2026.
Branch Network
Fifth Third Bank operates about 1,500 full-service banking centers and 2,648 ATMs in 15 states (June 30, 2026), after the Comerica acquisition. Its footprint covers Ohio, Michigan, Illinois, Indiana, Kentucky, Tennessee, West Virginia, Florida, Georgia, North Carolina, South Carolina and Alabama, plus the former Comerica markets added in February 2026.
Fifth Third completed its acquisition of Comerica Incorporated on February 1, 2026. Its total assets were about $214 billion at the end of 2025 and about $300 billion at June 30, 2026. At the end of 2025, before the merger, 232 of Fifth Third’s 1,130 banking centers were in bank-owned buildings on leased land, so some Fifth Third branch investments are ground leases, where the investor owns the land and the bank owns the building. Branch overlap after a merger can lead to consolidations; check whether a branch sits near a former Comerica location.
Fifth Third Bank NNN Cap Rates
Live asking cap rates for Fifth Third Bank and other bank tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Fifth Third Bank | A- / A3 | 4.50% | 4.50% to 5.00% | 17 | −74 bps |
| JPMorgan Chase | AA- / Aa2 | 5.00% | 4.65% to 5.25% | 37 | −24 bps |
| PNC Bank | A / A2 | 5.10% | 4.75% to 6.25% | 21 | −14 bps |
| Wells Fargo | A+ / Aa2 | 5.15% | 5.06% to 5.83% | 7 | −9 bps |
| Bank of America | A+ / Aa2 | 5.25% | 5.00% to 6.10% | 21 | +1 bps |
| U.S. Bank | A / A3 | 5.59% | 5.19% to 6.00% | 8 | +35 bps |
| Truist | A / A3 | 6.21% | 5.68% to 6.56% | 4 | +97 bps |
| KeyBank | BBB+ / n/a | 6.30% | 6.00% to 6.50% | 5 | +106 bps |
| Citizens Bank | A- / A3 | 6.50% | 6.44% to 6.75% | 4 | +126 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 16, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: Regions Bank, Huntington Bank.
Bank branch pricing varies, in part because some deals are ground leases, where the bank owns the building and leases the land, while others are building leases with the landlord owning both. Ground leases and building leases can ask different cap rates, so compare a specific branch with listings of the same structure and similar remaining term.
What to Check in a Fifth Third Bank Branch Lease
- Tenant entity: whether the lease is signed by Fifth Third Bank, National Association or another entity, and any guarantee.
- Ground lease or building lease: who owns the improvements and who pays for roof, structure and parking lot.
- Term and options: remaining term, renewal options and the rent schedule for each option.
- Early termination rights: whether the lease allows the bank to close the branch and end the lease early.
- Branch deposits: deposit levels at the branch, which are published annually in the FDIC Summary of Deposits, show how important the branch is to the bank.
- Consolidation risk: a bank can close overlapping branches, for example after a merger; check for other branches of the same bank nearby.
Pros and Cons
| Strengths | Considerations |
|---|---|
| Regulated bank tenant when Fifth Third Bank, National Association signs the lease; its senior debt is investment grade in our ratings database | A bank can close a branch, for example after a merger |
| Branch buildings are often small: median 2,397 SF in the Fifth Third listings we track | On a ground lease the investor owns land, which is not depreciable (IRS Publication 946), and ground leases can ask low cap rates |
| Average remaining term of 17.0 years across the 7 Fifth Third listings we track that state one | Check the lease for any early termination right |
Comparable Bank Tenants
Compare Fifth Third Bank with other bank tenants such as PNC Bank, Truist, U.S. Bank and JPMorgan Chase, shown in the live table above when at least three of their listings have a published cap rate.
Frequently Asked Questions
What is Fifth Third Bank’s credit rating?
Our ratings database shows S&P A- (Stable) and Moody’s A3 (Negative) for the senior debt of Fifth Third Bank, National Association. Fifth Third Bancorp, the holding company, is rated separately, so check which entity is the tenant on a specific lease.
Did Fifth Third buy Comerica?
Yes. Fifth Third completed its acquisition of Comerica Incorporated on February 1, 2026. At June 30, 2026, Fifth Third reported about $300 billion in assets and about 1,500 banking centers in 15 states.
Are Fifth Third branches ground leases?
Some are. At the end of 2025, before the Comerica acquisition, 232 of Fifth Third’s 1,130 banking centers were bank-owned buildings on leased land. Confirm in each case whether you are buying a ground lease or a building lease.
What cap rate are Fifth Third Bank branches listed at?
The live table on this page shows the current median asking cap rate for Fifth Third Bank branches when at least three listings with a published cap rate are available. Ground leases and building leases price differently, and asking cap rates are not closed-sale cap rates.
What is a triple net (NNN) lease?
In a triple net lease the tenant pays property taxes, insurance and maintenance in addition to rent. Some bank leases leave roof, structure or parking lot costs with the landlord, so read the lease.
Sources: Fifth Third Bancorp Form 10‑K for 2025 and Form 10‑Q for the quarter ended June 30, 2026.
Fifth Third Bank Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Fifth Third Bank properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
Fifth Third Bank NNN Properties Observed For Sale
17 active Fifth Third Bank net lease listings observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Vestavia Hills, AL | $2,632,000 | 4.75% | 2,200 | n/a | View listing |
| Hilton Head Island, SC | $2,928,000 | 4.85% | 5,000 | n/a | View listing |
| Columbia, SC | $2,555,555 | 4.50% | 1,900 | n/a | View listing |
| Chapin, SC | $2,191,000 | 5.25% | 2,400 | 20.0 yrs | View listing |
| Spartanburg, SC | $3,127,000 | 4.50% | 2,294 | n/a | View listing |
| North Charleston, SC | $3,289,000 | 4.50% | 1,900 | 17.5 yrs | View listing |
| Moncks Corner, SC | $2,777,777 | 4.50% | 2,400 | n/a | View listing |
| Mt. Juliet, TN | $3,260,000 | 4.75% | 2,400 | n/a | View listing |
Search all 17 observed Fifth Third Bank listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
