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Lutz, FL TD Bank

$4,118,000
17751 N Dale Mabry Hwy.
Lease Type Absolute Net
Cap Rate 4.25%
Property Type Freestanding Building
Building Size 3,820 SF
NOI $175,000
Land Area 0.83 Acres
Remaining Term 10 Years
Status Active
Property Highlights
  • New 10-Year Absolute Net lease with TD Bank, N.A. (S&P: AA-)
  • Trophy outparcel to Van Dyke Commons, an LA Fitness, HomeGoods, Golf Galaxy anchored power center
  • Major capital improvements by tenant including new roof and HVAC with warranty
  • Affluent Tampa suburb ($130,000 AHHI) with strong population growth and competitor bank deposits all over $125 million
  • Long-term Absolute Net lease provides completely passive ownership and stable cash flow for out of state investor
  • Florida is a key strategic market for TD Bank, TD plans to open 50 branches over the next 5 years in Florida
  • Large addressable market, TD’s closest branch is over 5.5 miles away
  • Florida has no state income tax and in 2022 ranked as the fastest growing state in the US