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Bank

Pilot Bank, Tampa

408 S MacDill Ave, Tampa, FL 33609

Listing Price: $3,954,454

Cap Rate
4.40%
Tenant Name
Pilot Bank
Years Remaining On Lease
14.8
Gross SF
3,454
Guarantor
Corporate Guarantee
Rentable SF
3,454
Price/Gross SF
$1,144.89
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.38

Investment Overview

Marcus & Millichap is pleased to present for sale this Pilot Bank in
Tampa, Florida. Pilot bank signed a 15-year absolute NNN Lease with
2.5 percent annual increases in rent during the base term and the option
periods. This infill bank branch is only a short 10 minute drive from
Tampa International Airport and less than three miles from Raymond
James Stadium, the host of the 2021 Super Bowl.
Tampa General Hospital with 957-beds is a short nine minute drive from
this bank branch. Also within a few minutes of the property is Memorial
Hospital of Tampa with 183 beds. Nine minutes from the property is
College of Natural & Health Sciences (Part of University of Tampa with
9,600 Students.) Also nine minutes from this property is Hillsborough
Community College with 27,955 enrolled students.
Several well-known neighborhoods surround this property including
Parkland Estates with 1,040 residents and 480 households; Oakford
Park neighborhood with a population of 1,473 and New Suburb Beautiful
with 921 residents. Many established and fully rented apartment
communities also surround the property including Chateau Apartments
(2 minutes away); Tara House Apartments (three minutes away); Brooklyn
Flats, Palm Vista Apartments (one minute away).
Tampa is a city on Tampa Bay, along Floridas Gulf Coast with a booming
population of 387,916. Tampa is a major U.S. business center which is
also popular for its museums and other cultural offerings. According
to Zillow, Tampa is one of the Top Ten Hot Areas to Move in the U.S.
because of its livability and job creation with MacDill Air Force Base
and Port of Tampa nearby, and offering thousands of jobs for families.
MacDill AF Base employs 9,876 active duty personnel, 4,073 civilians
and providing 14,500 jobs and $1.96 billion in payroll. The city of
Tampa operates over 165 parks and beaches covering 2,286 acres
within Tampa city limits.
Pilot Bank is a full service bank providing retail and commercial services
to individuals, businesses and institutions in the greater Tampa Bay and
Lakeland, Florida areas. In 1987 it was chartered by the State of Florida
and has served Tampa Bay as a community bank for over 30 years and
has grown to over $585 Million in assets.
The banks holding company, Pilot Bancshares, Inc. was
established in October 1995 and soon after the company acquired
a specialized lending organization called National Aircraft Finance
Company (NAFCO). NAFCO serves clients across the U.S. by
providing specialized and customized financing of general aviation
from helicopters to corporate airplanes. NAFCO is affiliated with
the Aircraft Owners and Pilots Association and is very well known
in the aviation industry.

Investment Highlights

  • 9 Minutes from Hillsborough Community College
  • Average Household Income Exceeds $117,000 in a 3-Mile Radius
  • Long Term 15-Year Absolute NNN Fee Simple Lease with 2.5 Percent Annual Increases
  • Corporate Guaranteed Lease with Rare Triple Drive Thru
  • Minutes from Bayshore Gardens, a High End Waterfront Community
  • Short 8 Minute Drive to Raymond James Stadium: Host of the 2021 Super Bowl

Exclusively Listed By

Listing Price: $3,954,454

Cap Rate
4.40%
Tenant Name
Pilot Bank
Years Remaining On Lease
14.8
Gross SF
3,454
Guarantor
Corporate Guarantee
Rentable SF
3,454
Price/Gross SF
$1,144.89
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.38

Investment Highlights

  • 9 Minutes from Hillsborough Community College
  • Average Household Income Exceeds $117,000 in a 3-Mile Radius
  • Long Term 15-Year Absolute NNN Fee Simple Lease with 2.5 Percent Annual Increases
  • Corporate Guaranteed Lease with Rare Triple Drive Thru
  • Minutes from Bayshore Gardens, a High End Waterfront Community
  • Short 8 Minute Drive to Raymond James Stadium: Host of the 2021 Super Bowl

Investment Overview

Marcus & Millichap is pleased to present for sale this Pilot Bank in
Tampa, Florida. Pilot bank signed a 15-year absolute NNN Lease with
2.5 percent annual increases in rent during the base term and the option
periods. This infill bank branch is only a short 10 minute drive from
Tampa International Airport and less than three miles from Raymond
James Stadium, the host of the 2021 Super Bowl.
Tampa General Hospital with 957-beds is a short nine minute drive from
this bank branch. Also within a few minutes of the property is Memorial
Hospital of Tampa with 183 beds. Nine minutes from the property is
College of Natural & Health Sciences (Part of University of Tampa with
9,600 Students.) Also nine minutes from this property is Hillsborough
Community College with 27,955 enrolled students.
Several well-known neighborhoods surround this property including
Parkland Estates with 1,040 residents and 480 households; Oakford
Park neighborhood with a population of 1,473 and New Suburb Beautiful
with 921 residents. Many established and fully rented apartment
communities also surround the property including Chateau Apartments
(2 minutes away); Tara House Apartments (three minutes away); Brooklyn
Flats, Palm Vista Apartments (one minute away).
Tampa is a city on Tampa Bay, along Floridas Gulf Coast with a booming
population of 387,916. Tampa is a major U.S. business center which is
also popular for its museums and other cultural offerings. According
to Zillow, Tampa is one of the Top Ten Hot Areas to Move in the U.S.
because of its livability and job creation with MacDill Air Force Base
and Port of Tampa nearby, and offering thousands of jobs for families.
MacDill AF Base employs 9,876 active duty personnel, 4,073 civilians
and providing 14,500 jobs and $1.96 billion in payroll. The city of
Tampa operates over 165 parks and beaches covering 2,286 acres
within Tampa city limits.
Pilot Bank is a full service bank providing retail and commercial services
to individuals, businesses and institutions in the greater Tampa Bay and
Lakeland, Florida areas. In 1987 it was chartered by the State of Florida
and has served Tampa Bay as a community bank for over 30 years and
has grown to over $585 Million in assets.
The banks holding company, Pilot Bancshares, Inc. was
established in October 1995 and soon after the company acquired
a specialized lending organization called National Aircraft Finance
Company (NAFCO). NAFCO serves clients across the U.S. by
providing specialized and customized financing of general aviation
from helicopters to corporate airplanes. NAFCO is affiliated with
the Aircraft Owners and Pilots Association and is very well known
in the aviation industry.

Exclusively Listed By

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