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Bank

Bank of America

910 E Tarpon Ave, Tarpon Springs, FL 34689

Listing Price: $3,575,000

Cap Rate
4.00%
Tenant Name
Bank of America
Years Remaining On Lease
9.9
Gross SF
12,582
Guarantor
Corporate Guarantee
Rentable SF
12,582
Price/Gross SF
$284.14
Lease Type
Absolute Net
Rent Per Square Feet
$1.11

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.

Investment Highlights

  • Absolute NNN Lease with 10 Years Remaining
  • 8% Rental Increase On 5/1/2027
  • Nearly 137,000 Residents Within A 5-Mile Radius

Exclusively Listed By

Listing Price: $3,575,000

Cap Rate
4.00%
Tenant Name
Bank of America
Years Remaining On Lease
9.9
Gross SF
12,582
Guarantor
Corporate Guarantee
Rentable SF
12,582
Price/Gross SF
$284.14
Lease Type
Absolute Net
Rent Per Square Feet
$1.11

Investment Highlights

  • Absolute NNN Lease with 10 Years Remaining
  • 8% Rental Increase On 5/1/2027
  • Nearly 137,000 Residents Within A 5-Mile Radius

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.

Exclusively Listed By

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