Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Bank of America located at 910 East Tarpon Avenue, Tarpon Springs, FL 23234. The investment is being offered at $3,575,000 which represents a 4.00% cap rate. The subject property is a 12,582 square foot Bank of America. This bank was constructed in 1972 and renovated in 1980. There are currently 10 years remaining on the current lease agreement. There is a rental increase on 5/1/2027 at a 8% bump. The Absolute NNN lease calls for zero landlord responsibilities and tenant fully reimburses for real estate taxes. Bank of America holds an investment grade, S&P "A-" credit rating. There is a reciprocal easement agreement with it being a $25,000 annual fee. The site sees over 75,000 vehicles per day pass along US Hwy 19 and 15,000 at its respective intersection. The area boasts ideal dollar store demographics with nearly 137,000 people and an average household income of $81,723 within five miles.