220 S Vincent Ave - Bank FOR SALE
West Covina, CA 91790 |
$4,602,000 USD
818-259-0476
220 S Vincent Ave
West Covina, CA 91790
HIGHLIGHTS
- Ten (10)-year corporate lease with Banc of California, including two (2), five (5)-year renewal options, demonstrating their long-term commitment.
- Two percent (2%) annual rent increases throughout the initial and option terms, providing rental upside and an excellent hedge against inflation.
- Corporate Guarantee from Banc of California, a well-capitalized institution with over $34 billion in assets and 80 full-service branches.
- Tenant is responsible for all expenses including CAM, taxes, insurance, and maintains all aspects of the property.
- Ideal management-free investment for a passive investor.
- The existing ground rent is below market. Neighboring comparable sites have leased at higher rates.
FOR SALE DETAILS
PRICE
$4,602,000 USD
PRICE/SF
$917 USD /SF
CAP RATE
5.2%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Banc of California
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Bank
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2003
SPRINKLERS
-
PARKING SPACES
48
LAND DETAILS
LAND ACRES
0.81 AC
LAND SF
35,284 SF
ZONING
WCCR
APN/PARCEL ID
8474-010-011
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818-259-0476
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818-259-0476
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