Bank of America 2011 E Highland Ave
6,927 SF Retail Building San Bernardino, CA 92404 $2,650,000 ($382.56/SF) 5.48% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Tenancy - Bank of America has been at the location for over three decades and recently exercised an option to extend
- Replaceable Rent - Bank of America is paying a healthy rent in comparison to other Southern California banking branches
- The Branch Contains Over $315,000,000 in Deposits - This represents a strong increase of 66% in overall deposits at this specific location since 2021
- Corporate Lease with Bank of America - Bank of America (NYSE:BAC) has a Standard and Poor’s credit rating of A-/stable
- Excellent Performance According to Placer AI - The Bank of America location is amongst the top 96% of branches nationally and 90% within California
- Desirable Demographics - The nearby consumer base consists of 137,943 residents with an average household income of $80,283 within a 3 mile radius
EXECUTIVE SUMMARY
Top Performing Bank of America Branch with $315M+ in Deposits
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Bank
Building Size
6,927 SF
Building Class
C
Year Built
1962
Price
$2,650,000
Price Per SF
$382.56
Cap Rate
5.48%
NOI
$145,130
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.62 AC
Opportunity Zone
Yes
Parking
50 Spaces (7.22 Spaces per 1,000 SF Leased)
Frontage
132’ on E Highland Ave
AMENITIES
- Dedicated Turn Lane
Walk Score®
Very Walkable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1191-011-03 | Improvements Assessment | $791,551 |
| Land Assessment | $207,495 | Total Assessment | $999,046 |
CONTACTS
-
Patrick Wade -
Alex Kozakov -
Matthew Greenberg -
Jack Webber -
Bo Henderson -
Vivian Tran -
CBRE, Inc.
