Listed by Founders 3 Real Estate Services Office & Industrial Brokerage Division
$3,250,000
BMO Bank
Details
APN 33-00991
Property Type Retail, Office
Sub Type Executive Office
Square Footage 22,101
Cap Rate 6.15%
NOI $199,770
Occupancy 100%
Tenancy Single
Brand/Tenant Credit Union
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 09/28/2034
Remaining Term 8.3
Rent Bumps Yes
Lease Options Three, 5-year renewals
Class A
Year Built 1948
Year Renovated 2024
Stories 2
Acreage 1.130
Zoning DMU (Downtown Mixed-Use)
Parking Spaces 45 spaces
Parking Per SqFt 2.04
Investment Type Net Lease
Lease Commencement 09/29/2019
Ground Lease No
Retail | 6.15% CAP | 22,101 SqFt
Marketing description
BMO Bank provides a broad range of personal banking products and solutions across the United States. Established in 1882 as Harris Bank, and owned by BMO Financial Group since 1984, BMO Bank has grown to be one of the largest banks in the Midwest serving personal, commercial and affluent customers. BMO Bank provides a broad range of personal banking products and solutions through over 1,000 branches, and fee-free access to over 40,000 ATMs across the United States. These include solutions for everyday banking, financing, investing, as well as a full suite of integrated commercial and financial advisory services. BMO Bank’s commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S
Investment highlights
- 100% Leased to BMO – Absolute NNN – Annual Rent Increases
- 8.4 years of remaining first term – Lease until 2034
- Three (3), Five (5)-Year Renewal Options
- Annual increases of one percent (1%) + YOY CPI Increase
- 10/1/2025 Increase: 3.92%
- 10/1/2024 Increase: 3.53%
- 10/1/2023 Increase: 4.67%
- 10/1/2022 Increase: 9.26%
- 10/1/2021 Increase: 6.25%
- Lease Term - 2024 Branch Refresh
- Commencement Date: September 30, 2019
- Expiration Date: September 30, 2034
- BMO completed an estimated $2 million branch refresh in 2024
- Approximately $380k HVAC renovation completed in 2026
- Significant Annual Deposits & Market Share
- Over $198 million in total 2025 deposits
- 18.4% market share
- Consistent Annual Deposit Growth
- 20.0% overall deposit growth since 2018
- Excellent Credit Tenancy
- A+ (S&P) / Aa2 (Moody’s) rated credit with over $1.44 trillion in assets
- Multi-Lane Drive Thru & Ample Parking
- Five (5) lane drive thru with 45 surface parking spaces
- Excellent Visibility and Signage
- Located on the main commercial thoroughfare
Listing Contacts
Listed by Founders 3 Real Estate Services Office & Industrial Brokerage Division
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$199,770.00
$16,647.50/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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