Bank of America 12223 Ventura Blvd
14,300 SF Retail Building Studio City, CA 91604 $15,149,744 ($1,059.42/SF) 5.85% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent Lease Extension Showing Strong Tenant Commitment
- Historical Occupancy | Bank of America Has Operated Here for Over 50 Years!
- Approximately 4 Years of Lease Term Remaining
EXECUTIVE SUMMARY
NNN Pro Group is pleased to present the exclusive net lease offering for a Bank of America located at 12223 Ventura Blvd in Studio City, CA. The site consists of roughly 14,245 rentable square feet of building space on estimated 0.31-acre parcel of land. This Bank of America is subject to a triple-net (NNN) lease, with approximately 5 months of lease term remaining. The current annual rent is $917,040 and is scheduled to increase by 10% in the next 5-year renewal option. This Bank of America features $459M in deposits.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
14,300 SF
Building Class
C
Year Built/Renovated
1973/2020
Price
$15,149,744
Price Per SF
$1,059.42
Cap Rate
5.85%
NOI
$886,260
Tenancy
Single
Building Height
2 Stories
Building FAR
1.06
Lot Size
0.31 AC
Zoning
LAC2 - High density commercial
Parking
13 Spaces (0.91 Spaces per 1,000 SF Leased)
Frontage
77’ on Ventura
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2367-017-015 | Improvements Assessment | $10,318,709 |
| Land Assessment | $7,069,705 | Total Assessment | $17,388,414 |
