Property details

NNN Bank, Pacific West Region

Property Description

•  New 10 Year NNN Lease

•  2% Annual Rent Increases

•  Located in Strong Retail Corridor

Founded in 1874, BANK OF THE WEST is the third largest Western-based commercial bank in U.S., the third largest agricultural lender in the U.S., and the largest specialty bank lender to religious institution in the nation. It offers a full range of personal, business, international, investment, and trust services. The bank now serves over 3 million households and businesses in hundreds of communities in 19 Western and Midwestern states: Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming. Bank of the West's holding company, BANCWEST CORPORATION, is a wholly-owned subsidiary of BNP Paribas, a leading global financial services institution. As of December 31, 2006, Bank of the West had $3 billion in revenues, a net income of over $572 million and a stockholder's equity of over $8.8 billion. More information is available on www.bankofthewest.com

The site in located in a stable retail environment surrounded by local restaurants and small businesses. Nearby retailers include Rite Aid, 99 Cent Store, Church's, Radio Shack, AutoZone, KFC and Burger King. Warehouse Shoes is just opening its 52nd store next door to the property. This hip shoe store carries all major athletic footwear brands. Traffic counts were approximately 40,000 average cars per day as reported in 2004.

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Highlights

Status:
Sold
Price:
$2,095,000
PSF:
$457
Cap Rate:
5.25%
Annual Rent:
$110,016
Rent Increases:
The rent is adjusted annually by twice the CPI, but not more than 2% per year.
 

Property Information

Building Size:
4,584 sq.ft.
Property Type:
Net Lease
Industry Type:
Bank - Credit Union
Units/Spaces:
1
Year Built:
1973
Land Area:
29,236 sq.ft.
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.