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

3620 SE Maricamp Rd, Ocala, FL 34480, USA
$3,040,000

Description

Marcus & Millichap is pleased to present for sale this Compass Bank in Ocala, Florida. Located at the hard corner signalized intersection of SE Maricamp Road and SE 36th Avenue, this bank branch experiences traffic counts in excess of 55,600 vehicles per day. This 4,704 square foot Bank Branch is situated on a large .91 acre parcel of land. Compass Bank been at this branch since 2005 and has strong, steady deposits exceeding $39 Million per year.
Known as a strong manufacturing base and for its equine industry, the Ocala metro is able to attract global companies. A lower cost of doing business and strategic location in central Florida are strong motivators for businesses that establish a footprint here. The metro comprises all of Marion County and Jacksonville, Orlando and Tampa are all within a two-hour drive. Residents age 65 and older account for 28 percent of the population, contributing to a large healthcare sector.
Compass Bank opened its first branch in Birmingham, Alabama in 1964 as Central Bank & Trust Company. The company was willing to serve people in ways that other banks couldn’t. In 1970, Compass Bank shook up the banking industry by introducing allday
banking and became the first bank to open on Saturdays. A few years later, Compass Bank offers the first ATM and debit card in Alabama. Today, Compass Bank operates 672 branches in seven states: Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. They are ranked among the top 25 largest United States commercial banks based on deposit market share and ranks.

  • Compass Bank (S&P BBB+) Absolute NNN Lease with more than Five Years Remaining on the Base Term with Options
  • Absolute NNN Lease with Annual Increases in Rent (CPI or 3% Annualy)
  • Lease Backed by Compass Bank 672 Branch Locations with Over $70 Billion in Deposits
  • Located at a Signalized Intersection in close proximity to numerous national retailers including Walgreens, Shell, Sonic, Burger King and Wells Fargo
  • Strong Traffic Counts Exceeding 55,000 Vehicles Per Day
  • Florida is a No Income Tax State

Property Documents

  • City: Ocala
  • State/county: Florida
  • Zip/Postal Code: 34480
  • Country: United States

Detail

  • Price: $3,040,000
  • Year Built: 1990

Additional details

  • CAP RATE: 6.01%
  • NOI: $182,933

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