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Bank of the Orient

3 Properties Offered at $5,420,000 in Oakland, CA

Investment Highlights

  • High Deposit Bank in the Heart of Oakland’s Chinatown
  • Rare 5% Annual Rent Increases Providing an Excellent Hedge Against Inflation
  • Encompassing One-and-Half City Blocks with Built-in Customer Base
  • New 10 Year NNN Lease to Bank of the Orient Headquartered in San Francisco
  • Located on the Ground Floor of the Pacific Renaissance Plaza, a High-End Mixed-Use Development

Executive Summary

Bank of the Orient at 388 9th Street is in the heart of Oakland’s Chinatown. The site is adjacent to Downtown Oakland at the junction of 9th Street and Franklin Street (6,344 AADT), less than a quarter mile from the Interstate 880 arterial (195,000 AADT).

Bank of the Orient is within Pacific Renaissance Plaza, a high-end mixed-use development encompassing one and a half city blocks. The Pacific Renaissance features 250 residential condominium units, 68 prime retail and office/medical units, the Oakland Public Library, Oakland’s Cultural Center, and rare, on-site, underground parking with 590 stalls.

Benefit from excellent access from the Bank of the Orient as it's approximately three blocks from the 12th Street/Oakland BART Station, the second-busiest BART station in the East Bay with more than 4,900 daily riders. It is surrounded by robust demographics with a total daytime population of 537,598, an average household income of $153,631, and an average home value of $1.24 million within a 5-mile radius of the Bank of Orient.

This facility is conveniently 0.5 miles from Oakland City Hall and the Oakland city center, a significant retail and office hub featuring over 5 million square feet of Class A office space, a convention center, shops, restaurants, and more. The site is near Jack London Square, a waterfront mixed-use retail, residential, and office hub featuring more than 17 million square feet of commercial, residential, and retail space.

The property is less than a mile from the Port of Oakland, a central industrial and employment hub and the sixth-busiest container port in the US. The site is approximately 9 miles from Oakland International Airport (OAK), California’s fourth-largest airport, with over 13 million passengers daily. Major development projects in the surrounding area include Webster Eleven Apartments (a completed 333-unit residential building), The Atlas, which features 633 residential units and 17,350 square feet of retail space in the city's tallest residential building, 1510 Webster Street (a 19-story tower featuring 222 residential units along with office and retail space), 2044 Franklin Street (a 39-story mixed-use development slated to include retail and commercial elements), and 315 15th Street (an affordable housing development with over 100 units).

Property Facts

Price $5,420,000
Price / SF $551.65 / SF
Cap Rate 7.35%
Sale Type Investment
Status Active
Number of Properties 3
Individually For Sale 0
Total Building Size 9,825 SF

Amenities

  • 24 Hour Access
  • Banking
  • Conferencing Facility
  • Courtyard
  • Metro/Subway
  • Property Manager on Site
  • Restaurant
  • Air Conditioning
  • Listing ID: 30029034

  • Date on Market: 11/10/2023

  • Last Updated:

  • Address: Bank of the Orient, Oakland, CA

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