BMO Bank Absolute Net
New
For Sale
$2,127,000
5504 W Bell Rd, Glendale, AZ 85308
Signalized Bell Road corner with an established branch building and remaining lease term.
Property Size4,591 SF
Lot Size1.22 Acres
Price / SF$463.30
Days on Market2
Property Features for 5504 W Bell Rd
General Information
Standard status
Active
Size
4,591 SF
Lot size
1.22 Acres
Property subtype
Bank
Lease Type
Absolute Net
Site & Location
Corner Location
Yes
Traffic Count
47,619 vehicles/day
Additional Details
Cap Rate
5.67%
Amenities
Second Busiest BMO Branch in Arizona | 98th Percentile Statewide & 93rd Percentile Nationwide for Visits
Recently Exercised Option | Absolute Net Lease With 3.7 Years Remaining and Two Percent Annual Rent Increases
Below-Market Rent | Well-Above-Average Deposit Base With 51 Percent Growth Since 2023
Signalized 1.22-Acre Hard Corner Site on Bell Road (47,619 VPD) | Four-Lane ATM Drive-Thru
Dense 5-Mile Trade Area | 350,702 Residents and $104,245 Average Household Income
Outparcel to LA Fitness | Regional Retail Corridor Anchored by Walmart, WinCo Foods and Kohl's
1.5 Miles from the 1.2 Million-SF Arrowhead Towne Center
Arizona Represents BMO's 4th Largest U.S. Market
Building Details
Building Size
4,591 SF
Tenancy
Single
Listing Agency:
Dallas Office
(972) 755-5207
Listed By:
Ryan Wolf · License #License(s): TX: 622900
(972) 755-5207
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dallas Office
Investment Insights
Based on property information with market context.
This Glendale property is occupied by a BMO Bank branch under an absolute net lease. The building contains 4,591 square feet and sits on a 1.22-acre parcel at a signalized hard corner along Bell Road. The tenant has exercised a lease option, with 3.7 years remaining and 2% annual rent increases.
The property is located at 5504 W Bell Rd in Glendale, Arizona, with reported Bell Road traffic of 47,619 VPD. The branch is identified as BMO’s second-busiest location in Arizona, ranking in the 98th percentile statewide and the 93rd percentile nationwide for visits according to Placer.ai. Its deposit base has increased 51% since 2023.
The property is located at 5504 W Bell Rd in Glendale, Arizona, with reported Bell Road traffic of 47,619 VPD. The branch is identified as BMO’s second-busiest location in Arizona, ranking in the 98th percentile statewide and the 93rd percentile nationwide for visits according to Placer.ai. Its deposit base has increased 51% since 2023.
Key Highlights
- Absolute net lease with 3.7 years remaining
- 4,591 SF bank branch on 1.22 acres
- Signalized hard corner on Bell Road with 47,619 VPD
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,483
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,229,660
$1.2M
Cap Rate 7%
$878,329
$878.3K
Cap Rate 9%
$683,144
$683.1K
Market Conditions
NOI Build-Up for 4,591 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.1K $19.20/SF
− Vacancy
−$6.2K −$1.34/SF
EGI
$82.0K $17.86/SF
− OpEx
−$20.5K −$4.46/SF
NOI
$61.5K $13.39/SF
Area
Glendale, AZ
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,229,660
Cap Rate 7%
$878,329
Cap Rate 9%
$683,144
Alternative Uses
Best Use
Specialty Retail
$878.3K
$768.5K – $1.02M
NOI $61,483 @ 7.0% cap · market cap 2.89%
Second Best
Retail
$756.1K
$661.6K – $882.2K
NOI $52,930 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,946 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
47,619 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 85308, AZ
66,540
Population
26,540
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
3,937
Density / Sq Mi
$95,512
Median Household Income
$50,026
Median Earnings
$1,777
Median Rent
$420,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Signalized Bell Road corner with an established branch building and remaining lease term.
Where is this bank located?
The property is located at 5504 W Bell Rd Glendale, AZ.
What is the asking price?
The asking price for this property is $2,127,000.
What are key features of this property?
This property features: Absolute net lease with 3.7 years remaining; 4,591 SF bank branch on 1.22 acres; Signalized hard corner on Bell Road with 47,619 VPD
