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Bank

Seacoast National Bank Ground Lease

2722 E Burleigh Blvd, Tavares, FL 32726

Listing Price: $3,410,000

Cap Rate
5.50%
Tenant Name
Seacoast National Bank Ground Lease
Years Remaining On Lease
7.4
Gross SF
6,504
Guarantor
Corporate Guarantee
Rentable SF
6,504
Price/Gross SF
$524.29
Lease Type
NNN Ground Lease
Rent Per Square Feet
$28.84

Investment Overview

LEASE AND TENANT HIGHLIGHTS:
-Absolute NNN Ground Lease with Seacoast National Bank
-Over 7.5 years remaining and a 10% increase coming in 2024
-Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional bank branches throughout Florida and is headquartered in Stuart
-Seacoast National Bank is one of the largest community banks headquartered in Florida with approximately $8.8 billion in assets and $7.4 billion in deposits as of March 31, 2021
-The parent company, Seacoast Banking Corporation of Florida is publicly traded on NASDAQ (Ticker SBCF)
-Seacoast Banking Corporation just reported a 15% increase in net income for 1st quarter 2021 to $33.7M - recently acquired Legacy Banks five Florida branches which had deposits of $432M
-This branch has deposits of over $74M and 12.5% market share in the 32726 zip code

LOCATION HIGHLIGHTS:
-Property is located on over 1 acre as an outparcel to a Kohl's/Dollar Tree/Hibbett Sports/Firehouse Subs shopping center
-Immediate traffic generators include: Publix, Beall's, Winn-Dixie, and AdventHealth Waterman, a 287-bed hospital
-Tavares, FL is located just 37 miles northwest of Orlando and is part of the Orlando-Kissimmee-Sanford MSA, which is among the largest and fastest growing MSA's in Florida with over 2.6 million residents
-Orlando is one of the most popular tourist destinations in the world that draws more than 60 million visitors annually
-High traffic location - over 56,000 cars per day on E. Burleigh Boulevard

Investment Highlights

  • Absolute NNN Ground Lease with Seacoast National Bank
  • 7.5 years remaining and a 10% increase coming in 2024
  • Seacoast National Bank is one of the largest community banks headquartered in FL
  • High traffic location - over 56,000 cars per day on E. Burleigh Boulevard

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Bank

Seacoast National Bank Ground Lease

Listing Price: $3,410,000

Cap Rate
5.50%
Tenant Name
Seacoast National Bank Ground Lease
Years Remaining On Lease
7.4
Gross SF
6,504
Guarantor
Corporate Guarantee
Rentable SF
6,504
Price/Gross SF
$524.29
Lease Type
NNN Ground Lease
Rent Per Square Feet
$28.84

Investment Highlights

  • Absolute NNN Ground Lease with Seacoast National Bank
  • 7.5 years remaining and a 10% increase coming in 2024
  • Seacoast National Bank is one of the largest community banks headquartered in FL
  • High traffic location - over 56,000 cars per day on E. Burleigh Boulevard

Investment Overview

LEASE AND TENANT HIGHLIGHTS:
-Absolute NNN Ground Lease with Seacoast National Bank
-Over 7.5 years remaining and a 10% increase coming in 2024
-Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional bank branches throughout Florida and is headquartered in Stuart
-Seacoast National Bank is one of the largest community banks headquartered in Florida with approximately $8.8 billion in assets and $7.4 billion in deposits as of March 31, 2021
-The parent company, Seacoast Banking Corporation of Florida is publicly traded on NASDAQ (Ticker SBCF)
-Seacoast Banking Corporation just reported a 15% increase in net income for 1st quarter 2021 to $33.7M - recently acquired Legacy Banks five Florida branches which had deposits of $432M
-This branch has deposits of over $74M and 12.5% market share in the 32726 zip code

LOCATION HIGHLIGHTS:
-Property is located on over 1 acre as an outparcel to a Kohl's/Dollar Tree/Hibbett Sports/Firehouse Subs shopping center
-Immediate traffic generators include: Publix, Beall's, Winn-Dixie, and AdventHealth Waterman, a 287-bed hospital
-Tavares, FL is located just 37 miles northwest of Orlando and is part of the Orlando-Kissimmee-Sanford MSA, which is among the largest and fastest growing MSA's in Florida with over 2.6 million residents
-Orlando is one of the most popular tourist destinations in the world that draws more than 60 million visitors annually
-High traffic location - over 56,000 cars per day on E. Burleigh Boulevard

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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