Bank of America
17,372 SF | 100% Leased | Retail Building | Stockton, CA 95207 | $2,250,000 ($130/SF) | 7.64% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,250,000
- Property Type
-
Retail
- Square Feet
- 17,372 SF
- Price / Square Foot
- $130
Listing Contacts
Colton Toste
Verified Profile
- Property Info
Property Overview
Situated in the Lincoln Village Area and surrounded by prominent retail establishments, this Bank of America site boasts an exceptional location directly off the heavily traveled Pacific Avenue. The property holds significant potential for growth, given its status as a low-rent, high-deposit location with convenient accessibility.
Bank of America has recently exercised an early 5-year extension, commencing in 2024, and has multiple 5-year options with built-in rent increases. The additional space available within the Bank of America building provides an investor existing income with immediate upside or Owner-User potential. An opportunity rarely found in core investments with credit tenants in a prime location.
Bank of America has recently exercised an early 5-year extension, commencing in 2024, and has multiple 5-year options with built-in rent increases. The additional space available within the Bank of America building provides an investor existing income with immediate upside or Owner-User potential. An opportunity rarely found in core investments with credit tenants in a prime location.
Property Details
- Class
- B
- Year Built
- 1985
- Stories
- 1
- Property Subtype
- Bank
- Lot Size (sq. ft)
- 82,328 SF
Highlights
- Existing Income with Upside and/or Owner-User Potential | NNN Lease to Bank of America (69% of GLA)
- Seller to Guarantee Rent on Vacant 5,303 SF for 18 months
- Property Sits on a Large 1.89 Acre, Rectangular Shaped Lot | Priced Below Replacement Cost at $129 per Square Foot
- High Deposits | This Bank of America location has reported over $589 Million in Deposits as of June 30, 2022(per FDIC)
- Low Rent and Early Lease Extension | Bank of America Exercised 5-year Option Commencing on 10/1/24
- Located at Signalized, Hard Corner Intersection with Combined Traffic Counts of 14,896 Vehicles
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