$7.5 Million NNN Acquisition in Tampa
By Trevor Damyan, Commercial Mortgage Broker at Commercial Lending Solutions
A $7.5 million NNN acquisition in Tampa represents a sweet spot for single-tenant net lease investors seeking core-plus returns with minimal operational burden. At this size, borrowers typically acquire stabilized, credit-rated tenants with 10+ year lease terms, anchoring predictable cash flow in a market where Tampa's growing population and business migration have tightened cap rates to the 4.5 to 5.5 percent range. Lenders for this deal size range from national banks with established STNL platforms to regional life companies and CMBS conduit shops, all competing aggressively on rate and structure. The 6.60 percent indicative rate reflects current CMT-based pricing for strong tenant credit and 70 to 75 percent LTV, with most deals closing in 45 to 60 days.
Get a Quote on Your $7.5M Deal →What a $7.5M NNN Acquisition Capital Stack Looks Like
Capital stack decisions at $7.5 million hinge primarily on tenant creditworthiness, lease term remaining, and the sponsor's recourse appetite. National banks dominate this segment because their STNL programs offer competitive CMT-based rates, longer amortization periods (20 to 25 years), and faster execution, making them the default choice for 1031 exchange buyers and repeat sponsors. Life insurance companies and credit unions often come into play when the tenant is investment-grade and the sponsor prefers portfolio lending, while CMBS shops compete when sponsors want non-recourse certainty or hold shorter leverage timelines.
Pricing reflects active CLS CRE quote pipeline as of April 2026. Specific deal pricing depends on sponsor, property, and structure.
Who Closes a $7.5M NNN Acquisition Deal
The typical sponsor for a $7.5 million NNN acquisition in Tampa is an experienced net lease investor with $10 million to $50 million in net worth, a portfolio of 5 to 15 properties, and 10+ years in the space. Many are 1031 exchange buyers rolling forward equity from a previous sale, motivated by tax deferral and portfolio diversification across geographies and tenant sectors (retail, industrial, QSR, medical office). These sponsors prioritize certainty of execution, transparent underwriting, and lenders who close on time; most have strong relationships with a mortgage broker and typically evaluate 3 to 5 loan programs before committing.
A Real $7.5M Example
In 2024, we closed a $7.35 million NNN acquisition financing on a triple-net medical office property in the North Tampa submarket for a 1031 exchange buyer stepping into a 15-year absolute NNN lease with a mid-market healthcare tenant rated BB+ by a major rating agency. The borrower secured a 72 percent LTV loan at 6.58 percent from a national bank STNL platform, with full recourse and a 25-year amortization; the bank's rapid underwriting and documented STNL appetite enabled closing in 52 days. The sponsor retained 28 percent equity cushion, accepted limited recourse carve-outs on lease default and property damage, and refinanced the property 18 months later as the lease entered year 3 of 15, locking in lower rates as market conditions softened.
Anonymized. All deal references protect borrower and lender identity.
$7.5M NNN Acquisition Tampa FAQ
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