Retail•Free Standing•For Sale

BMO Harris Bank Branch Outparcel Tampa Bay MSA

103 West Bloomingdale Avenue, Brandon, Florida 33511

Sale Price $3,335,000
Sale Type Investment
Sale Condition NNN Investment
Zoning PD
Tenant Yes
Bldg Type Single-Tenant
Class B
Status Existing
Year Built 2006
Stories 1
Cap Rate 8.00%
Gross Bldg 4,637 SqFt
RBA 3,304 SqFt
Land Area 1.08 Acres
Avail Parking 15/1000SqFt
Market Tampa/St. Petersburg
Sub-Market East Tampa
Parcel# U-10-30-20-94A-000000-00004.0
Commission 2% to Buyer's Broker
Barkett Realty is pleased to present an attractive & well-located BMO Harris bank branch situated at the lit intersection of Bloomingdale Avenue & John Morris Road (AADT of over 67,000 vehicles per day) in a booming growth area of the Tampa Bay MSA. The single-story bank branch was constructed in 2006 with 3,304 SF of rentable space. The bank features three (3) drive-thru lanes with pneumatic tube system, an attractive exterior with stone facade and gable/hip roof (covered with corrugated metal). The Bloomingdale Avenue corridor is one of the hottest corridors in all of Tampa Bay seeing outstanding growth in recent years with national credit rated tenants such as Target, Starbucks, Walmart, LA Fitness, Wawa, McDonald's, etc. opening storefronts up and down the corridor. There are plans to expand portions of Bloomingdale Avenue to keep up with the corridors explosive growth and demand. The subject bank branch is located at the southwest corner of the lighted intersection at W Bloomingdale Avenue and John Moore Road in Brandon (Tampa MSA), Hillsborough County. FL. The subject parcel contains 47,076 square feet (or 1.08 acres) of upland area and is an out-parcel to a recently renovated 27,000 square foot retail strip center known as Bloomingdale Commons. The subject parcel can be accessed from either major thoroughfare utilizing cross access easements with the strip center. The site has shared offsite retention with the Bloomingdale Commons development. Tenant (BMO Harris) is responsible for paying their pro-rata share of the cost associated with maintaining the retention area.
  • Attractive Cap Rate of 7.5% for well located asset
  • BMO Harris Bank is the 8th largest bank in North America by assets ($688 Billion)
  • A+ Credit Rated Tenant (graded by S&P)
  • 3+ years remaining on initial lease term with 3 - 5 year options (w/ built in rent increases)
  • Oustanding Median HH Income of over $75,000 within 1, 3 & 5 mile radius
  • Extensive & booming growth area of the Tampa Bay MSA
  • Outparcel to a successful and newly renovated 27,000+ SF retail center featuring the "Mill Restaurant"
  • Outstanding location at a lit intersection with combined traffic counts in excess of 67,000 AADT (47,500 AADT on Bloomingdale Ave alone)
  • National credit rated tenants found up and down Bloomingdale Avenue
  • Strong Deposit Growth of 39% and 24% in Last 2 Years per FDIC
  • Net, Net Lease with Landlord only responsible for structural integrity of the building

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2/13/2018 12:00:00 AM 2/16/2018 10:57:24 PM

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