BMO Harris Bank
| Status | Sold |
|---|---|
| Price | $2,875,000 |
| Cap Rate | 4.25% |
| NOI | $122,310 |
| Lease Type | Absolute NNN |
| Lease Term | 15 Years |
| Lease Start | March 2015 |
| Lease Expiration | March 2030 |
| Building Size | 4,612 SF |
| Lot Size | 39204 AC |
Overview
Positioned less than one mile from US Route 60, the branch features excellent visibility and accessibility with three points of ingress/egress, parking for 36 cars, and two drive-thrus.
The local area is characterized by a mix of dense residential neighborhoods, recreational destinations, and commercial amenities. Notable retailers include Fry’s, Safeway, Walgreens, and Bashas’. Furthermore, the Recreation Center of Sun City complex and Hillcrest Golf Course sit across the street from the building.
A population of 183,000 residents live within a 5-mile radius from the branch. This same population has an average household income of more than $60,000. Substantial branch deposits of $103 million reinforce the long-term success of this location.