CAP Rate: 7.00%
Net Operating Income: $136,886
Square Footage: 4,799
Lot Size: 1.01 AC
This is a 10-year absolute NNN leased investment with 2% annual rental increases. The property is leased to BMO Harris Bank N.A. (“BMO”), the United States operating arm and subsidiary of the Bank of Montreal (“BMO Financial Group”), a diversified financial services provider with total assets of approximately $523 billion.
The property is located at the corner of Cardinal Lane and Tulip Lane amid a residential neighborhood. The property consists of a 4,799 square foot bank branch, six drive-thrus, and has 37 parking spaces. In addition to the local traffic generated on U.S. Highway 41, Cardinal Lane is one of the community’s major roadways. The surrounding community is comprised primarily of residential neighborhoods, but also supports a collection of restaurants, shopping establishments, and numerous schools, including Bay View Middle School and St. John the Baptist School. Adjacent to the property, the new Prevea Health Wellness Way Clinic supports the desirability of this location.
The community that surrounds the bank is home to approximately 30,000 residents within a 3-mile radius. Within that same parameter, average household incomes are nearly $63,000. The local area boasts a high quality of life and a low cost of living.
Green Bay is the third largest city in Wisconsin and is home to the world famous Green Bay Packers. Green Bay is also home to many mature and emerging industries from paper and food, to national defense, to emerging green and digital technology industries.
Additionally, the city occupies a stunning waterfront location that cradles Wisconsin’s famous Door Peninsula and its equally renowned Northwoods.