7.5% Cap - BMO Harris Bank Branch - Outparcel
103 W Bloomingdale Avenue
Brandon, FL 33511
- 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)
- Approximately 2 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
- 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
- Excellent Deposit Growth of 97% (2018) 24% (2017) and 39% (2016) per FDIC
- Net, Net Lease with Landlord only responsible for structural integrity of the building
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 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 sections 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 lit intersection of 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 useable land area and is an outparcel 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. The tenant (BMO Harris) is responsible for paying their prorata share of the cost associated with maintaining the shared retention area.