BMO Harris Bank
| Status | Sold |
|---|---|
| Price | $1,850,000 |
| Cap Rate | 7.70% |
| NOI | $142,416 |
| Lease Type | Absolute NNN |
| Lease Term | 10 Years |
| Lease Start | September 2014 |
| Lease Expiration | September 2024 |
| Building Size | 4,799 SF |
| Lot Size | 1.01 AC |
Overview
The property is located at the corner of Cardinal Lane and Tulip Lane amid a residential neighborhood. The property consists of a 4,799 square foot bank branch, five drive-thrus, and has 37 parking spaces. In addition to the local traffic generated on U.S. Highway 41, Cardinal Lane is one of the community’s major roadways.
The surrounding community is comprised primarily of residential neighborhoods, and supports a collection of restaurants, shopping establishments, and numerous schools, including Bay View Middle School and St. John the Baptist School. Adjacent to the property, the Prevea Health Wellness Way Clinic supports the desirability of this location.
This branch had over $119 million in branch deposits in 2020. Deposits have grown nearly 217% since 2016.
