BBVA Compass Bank | Ocala, FL | 5+ Years on NNN Lease

  • $3,040,000
620, SE Maricamp Road, Maricamp, Ocala, Marion County, Florida, 34471, United States of America

BBVA Compass Bank | Ocala, FL | 5+ Years on NNN Lease

620, SE Maricamp Road, Maricamp, Ocala, Marion County, Florida, 34471, United States of America
  • $3,040,000

Overview

Property ID: 18524
  • Property Type
  • Bank Properties
  • 4704
  • sqft
  • 1990
  • Year Built

Description

This Compass Bank property is located in Ocala, Florida. The property is situated at the intersection of SE Maricamp Road and SE 36th Avenue, due to which, it experiences a heavy traffic of over 55,600 vehicles per day. This bank branch has a built-up area of 4,704 sq.ft., and sits on a 0.91-acre parcel of land. This property has been acquired by Compass Bank since 2005. The bank branch experiences a robust, steady deposits of over $39 Million every year. Ocala metro has been successful in attracting international companies because of its reputation as a solid manufacturing base and the famous equine industry. A lower cost of doing business and strategic location in central Florida are the two biggest factors for the massive influx of businesses in this part of the state. Marion County, Jacksonville, Orlando, and Tampa are all within a two-hour drive from this location. 28% of the population are of age 65 or older, which contributes largely to the healthcare sector.

Compass Bank had set up its first branch in Birmingham, Alabama, in 1964 as a Central Bank & Trust Company. The company adopted a unique approach and served people differently as compared to its peers. In 1970, Compass Bank took a pathbreaking decision by introducing everyday banking and shook the banking world after it became the first bank to function on Saturdays.

This investment property is suitable for a 1031 exchange.

Property Details – 

  • Property Type – Bank Property
  • Property Status – Available
  • Location – 620, SE Maricamp Road, Maricamp, Ocala, Marion County, Florida, 34471, USA
  • Number of units – 1
  • Year of Construction – 1990
  • Lease Type – Absolute Net Lease
  • Lease Expiration – 5 years 7 months
  • Property Size – 4704 sq.ft.

Details

Updated on April 14, 2020 at 12:45 pm
  • Price: $3,040,000
  • Property Size: 4704 sqft
  • Year Built: 1990
  • Property Type: Bank Properties
  • Property Status: Available
  • Cap Rate: 6.01%
  • Lease Expiration: 5 years 7 months
  • NOI: $182,933
  • Tenant: Compass Bank
  • Cap Rate Range: 6%-7%
  • Address 620, SE Maricamp Road, Maricamp, Ocala, Marion County, Florida, 34471, United States of America
  • City Ocala
  • State/county Marion County
  • Zip/Postal Code 34471

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Ronnie Issenberg
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