Bank

TD Bank

1190 NE 163rd St, North Miami Beach, FL 33162

Listing Price: $8,324,000

Cap Rate
3.70%
Tenant Name
TD Bank
Years Remaining On Lease
16.6
Guarantor
Corporate Guarantee
Rentable SF
4,676
Lease Type
Ground Lease
Rent Per Square Feet
$65.87

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the ground leased interest in a TD Bank located at 1190 NE 163rd St, North Miami Beach, FL. The building size is 4,676 square feet and it is situated on 0.95 acres. This net leased TD Bank has a primary lease term expiring on October 1st, 2037 and is followed by three five-year extension options. Located midway between Miami and Ft. Lauderdale, North Miami Beach is truly at the "Crossroads of South Florida". The city is home to parks, beaches, and bays abound, along with a wide assortment of recreational, cultural, and dining opportunities. TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the United States, providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations.

Investment Highlights

  • Investment Grade Credit Tenant "AA-" Rating by S&P
  • Triple-Net Ground Lease – Zero Landlord Responsibility
  • Over 16.5 Years Remaining of Primary Lease Term
  • Hard Corner Signalized Intersection – 68,000+ Vehicles Per Day
  • Across From "Mall at 163rd St" – Anchor Tenants Including Marshalls, Home Depot, Ross and Walmart
  • Strong Deposits of $82.9M (June 2020)
  • 10 Percent Rental Bump in 2022

Exclusively Listed By

Listing Price: $8,324,000

Cap Rate
3.70%
Tenant Name
TD Bank
Years Remaining On Lease
16.6
Guarantor
Corporate Guarantee
Rentable SF
4,676
Lease Type
Ground Lease
Rent Per Square Feet
$65.87

Investment Highlights

  • Investment Grade Credit Tenant "AA-" Rating by S&P
  • Triple-Net Ground Lease – Zero Landlord Responsibility
  • Over 16.5 Years Remaining of Primary Lease Term
  • Hard Corner Signalized Intersection – 68,000+ Vehicles Per Day
  • Across From "Mall at 163rd St" – Anchor Tenants Including Marshalls, Home Depot, Ross and Walmart
  • Strong Deposits of $82.9M (June 2020)
  • 10 Percent Rental Bump in 2022

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the ground leased interest in a TD Bank located at 1190 NE 163rd St, North Miami Beach, FL. The building size is 4,676 square feet and it is situated on 0.95 acres. This net leased TD Bank has a primary lease term expiring on October 1st, 2037 and is followed by three five-year extension options. Located midway between Miami and Ft. Lauderdale, North Miami Beach is truly at the "Crossroads of South Florida". The city is home to parks, beaches, and bays abound, along with a wide assortment of recreational, cultural, and dining opportunities. TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the United States, providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations.

Exclusively Listed By

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