BMO Harris Bank

35 North Houghton Road, Tucson, AZ 85748
$2,080,000
Status Sold
Price $2,080,000
Cap Rate 5.10%
NOI $105,989
Price/SF $437
Lease Type Absolute NNN
Lease Term 10 Years
Lease Start March 2015
Lease Expiration March 2025
Building Size 4,756 SF
Lot Size 43124 AC

Overview

The property benefits from a hard corner location at the signalized intersection of Broadway Boulevard and Houghton Road. The branch features a substantial parkinglot for 33 vehicles and has three drive-thru lanes.

The site lies in the neighborhood’s commercial district amid numerous shopping centers and residential communities. The property is across the street from Safeway, Walgreens, Bashas’ and other national retailers.

Within a 1-mile-radius, there are nearly 11,000 residents with an average annual household income of approximately $85,000. The population increases to nearly 140,000 when the radius expands to five miles.