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14075 Main Street - The Shops at Topaz - U.S Bank, Hesperia, CA

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14075 Main Street - The Shops at Topaz - U.S Bank

Hesperia, CA 92345 - North San Bernardino Submarket


Property Type:Retail Sub Type:Bank Status:Existing Year Built:2007
Building Size:3,600 SF Land Area:.69 AC (30,056 SF)
For Sale Price:$3,350,000 Price/SF:$930.56
Cap Rate:4.70 %
Parking:Free Surface spaces are available; Ratio of 6.94/1,000 SF
Features:Dedicated Turn Lane, Pylon Sign



Sale Notes:
Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in a freestanding, single tenant, corporate guaranteed, U.S. Bank with drive-thru, strategically located in the expanding Southern California community of Hesperia. The tenant, U.S. Bancorp, has over 10-years remaining in the current term. The lease features 5% increases every 2 years throughout the initial term and 4 (5-Year) option periods, providing steady NOI growth and hedges against inflation. The subject property is a prime outparcel pad to The Shops at Topaz, a 99 Cent Only anchored shopping center, and has an exclusive use right which prevents any other banks from occupying the center.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE: YUM). U.S. Bancorp is a publicly traded company, having an (S&P) credit rating of A+, generated $21.39 Billion revenue (2014). U.S. Bank is the nation' s 5th largest commercial bank with more than 3,000 branches and 5,000 ATMs in 25 states in the Midwest and West, including one of the most extensive networks of branches inside grocery stores with California as its largest market.

The subject property is ideally located at the signalized corner of Main Street and Topaz Avenue with over 30,600 vehicles per day passing by. The property benefits from excellent street visibility along Main Street, the main east/west thoroughfare road in Hesperia and is located within close proximity to the new Wal-Mart and Target anchored centers, generating excellent cross-over traffic and strong tenant synergy. There are more than 128,600 permanent residents with an average household income higher than $61,000 within 5 miles of the subject property. Additionally, the trade area is supported by more than 24,000 daytime employees within a 5 mile radius.

Highlights:
Strong National Credit Tenant - US Bank (S&P Rated A+)
Long-Term Lease w/ 5% Rent Increases Every 2 Years
Rare Southern California Investment Opportunity High Quality Construction (2007)
Dominant Shopping Center in the Trade Area | Anchored by 99 Cent Only
Drive-Thru Concept / Prototype Location

Faris Lee Investments
Joe Chichester
(949) 221-1813

Nicholas Coo
(949) 221-1800 x211




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