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Bank Of America - Clermont
690 E Highway 50, Clermont, FL 34711
13,091 SF | Office
Office Property - Off Market
- Building Size:
- 13,091 SF
- Property Type:
- Property Sub-type:
- Office Building
- Property Use Type:
- Building Class:
- APN / Parcel ID:
- Listing ID
- Last Updated
- 230 days ago
The Property consists of a Bank of America anchored, two story 13,091 rentable square foot multi-tenant office building including an additional motor bank structure. Current occupancy is 55.79% or 7,304 square feet, and is leased to one tenant, Bank of America. Bank of America occupies the entire first floor of the building and the drive thru teller structure. Bank of America recently signed a new five year lease which includes seven (7), five year renewal periods. The Lease is a true NNN lease structure in which tenant pays for its proportionate share of all operating expenses.
This investment presents investors with an opportunity to purchase a well located, major bank anchored office building with a significant discount-to-replacement cost. The Property' s in-place tenancy provides significant stabile cash flow but also offers the investors the opportunity to create additional value through aggressive lease-up of remaining available space (5,787 square feet) and capitalize on steadily appreciating market rents and conditions / to take advantage returning economic conditions and increase value with an aggressive lease-up to stabilization strategy.
The Property is located within the City of Clermont and county of Lake County Florida, one quarter mile west of the major intersection of U.S. Highway 27 and State Road 50. Clermont is considered an Orlando suburb and bedroom community and currently has a population of 29,358.
The property sits at the fully lighted intersection on the northwest corner of State Road 50 and Bloxam Avenue. The building is accessible via several entrances, one being off State Road 50, one off Bloxam Avenue, and two off Almond Street bordering the Property to the north. The property has easy and convenient access to US Highway 27 one quarter mile to the east which leads north and south through Florida. The Florida Turnpike and the 408 East-West Expressway are six miles away leading to downtown Orlando which is 22 miles the east.
Map of 690 E Highway 50, Clermont, FL 34711 (Lake County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO