Bank branches backed by Bank of Montreal, formerly branded BMO Harris in the U.S., and what to check on the lease, from a NNN buyer’s broker with 225+ transactions.
A BMO Bank NNN property is a bank branch leased to BMO Bank N.A., the U.S. bank of Bank of Montreal. Many are ground leases, where the bank builds and owns the building, and others are NNN building leases. BMO’s U.S. branches were branded BMO Harris until 2023, the same year BMO acquired Bank of the West and expanded into California and the West.
Bank of Montreal has about $1.5 trillion in assets and investment grade credit, which is why many buyers like these properties. BMO is also reshaping its branch network: it sold 138 U.S. branches to First Citizens in 2026 and plans more than 130 new branches in California. That makes the specific branch and market important. Solid Investments FL has closed a BMO Harris deal, and our buyer representation is always free to you.
| Tenant | BMO Bank N.A.; confirm the tenant entity on each lease |
|---|---|
| Parent | Bank of Montreal (NYSE and TSX: BMO), about $1.5 trillion in assets |
| Credit rating | Bank of Montreal rated A+ by S&P (investment grade) |
| Brand history | Formerly BMO Harris; renamed BMO in 2023 after acquiring Bank of the West |
| Branch network | Concentrated in the Midwest, California and the West; sold 138 branches to First Citizens in 2026 |
| Lease type | Often ground leases or NNN building leases; confirm expense terms |
| Lease term | New leases often 15–20 years with renewal options |
| Typical cap rate (2026) | About 5%–6%, lower for new long term ground leases |
| Typical price range | About $2M–$5.5M |
Asset and branch data from BMO (2026); rating and listing data as of 2026. Cap rates and pricing reflect current market conditions and vary by deal.
BMO sold 138 branches in 2026 and is growing in California. Confirm the branch is in a market BMO is investing in.
FDIC deposit data shows how a branch performs. Strong, growing deposits suggest the bank will stay.
On a ground lease the bank owns the building; on a building lease you do. Know what you own and who pays to replace the roof and parking lot.
Older BMO Harris leases may have little term left. Price the deal on the remaining term and renewal options.
Many bank leases have flat rent or small bumps. Check the rent schedule and the options.
Favor hard corners with a drive-thru in dense, growing trade areas that suit other users too.
We’ve represented a buyer on a BMO Harris Bank in Fox River Grove, in the Chicago area:
Banks
Solid Investments FL is a Florida NNN buyer's brokerage headquartered in Lakewood Ranch (Sarasota), serving investors across Florida and nationwide, with 21+ years in net lease and 225+ transactions, including bank branches for BMO, Chase, Bank of America and others. Our buyer representation is free.
As of 2026, BMO Bank NNN properties generally trade around 5% to 6% cap rates, with new long term ground leases at the lower end.
Yes. BMO's U.S. branches were branded BMO Harris until 2023, when they were renamed BMO after the Bank of the West acquisition. The U.S. bank is BMO Bank N.A.
As of 2026, Bank of Montreal is rated A+ by S&P, which is investment grade. Confirm which entity signs the lease.
BMO sold 138 U.S. branches, mostly in the Midwest and Great Plains, to First Citizens in 2026, while planning more than 130 new branches in California. Check that the branch you buy is in a market BMO is keeping.
BMO Bank NNN properties typically sell for about $2 million to $5.5 million, depending on rent, lease structure, term and location.
For many buyers, yes. BMO offers investment grade credit and bank branches are often ground leases with little landlord responsibility. The key is the branch's deposits, remaining term and location.
General information only, not investment, tax or legal advice. Credit ratings and market data change; verify current figures before investing.
We’ll help you check the branch, the lease and the market. Tell us your budget and timeline; our buyer representation is completely free.
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