Properties

Bank of America Retail Condo

9385 N 56th St Temple Terrace, FL

Property Information

Tenant

Bank of America Retail Condo

Price

$6,762,139

Cap Rate

5.75%

Lease Type

Absolute Net

Square Feet

13590

Status

Available

About the property

SAB is pleased to present Bank of America Retail Condo in Temple Terrace, FL.​​ It is a triple net lease, where the tenant is responsible for all operating expenses, for an additional 8 years with 2% rent increases annually.​​ The lease is corporately guaranteed by Bank of America, which currently has a net worth of over $216 Billion dollars and has a strong S&P: A- credit rating. The subject property is highly visible from North 56th St, which features more than 35,600 vehicles per day.

 

– Bank of America Retail Condo in Temple Terrace, FL | Tampa Metropolitan Statistical Area (MSA)

– Strong Corporate Guaranty | S&P: A- | NYSE: BAC

– Triple Net Lease (NNN) with 8 Years Remaining

– 2% Annual Rent Increases | Hedge Against Inflation

– More Than $135 Million in Bank Deposits | Location Represents 25% of Market Share

– Asset is Equipped With a Five Lane Drive-Thru and Walkup (ATM)

– Ideally Located Along North 56th St | More Than 35,600 Vehicles Per Day (VPD)

– High Growth Market | Resident Population Increased 15% Since 2010 Within a 5 Mile Radius

– Dense Trade Area | More Than 500,000 SF of Retail Within One Mile

– Nearby the University of South Florida | More Than 47,000 Students

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