For Sale
$6,774,000

1211 Foothill BlvdUpland, CA 91786

Upland, CA: High-yield Bank investment

Overview

Added:
Dec 11, 2024
Days on market:
115
This Upland, CA property offers a compelling investment opportunity featuring a 9,348 square foot Bank of America branch operating under a 60-year absolute NNN ground lease. The lease, commencing January 1, 1969, has a remaining term of approximately 4.1 years with one 5-year option remaining. The property boasts a strong 4.50% cap rate and a substantial NOI of $304,850, supported by over $322 million in confirmed branch deposits (October 2024). Bank of America, an investment-grade tenant with an A+ S&P rating, covers all property expenses, including taxes, insurance, and maintenance, minimizing landlord responsibilities. Rent increases are tied to 6.5% of the Fair Market Value of the land every five years during option periods. The property sits on a 1.96-acre lot with 60 parking spaces, located at a high-traffic hard corner on Foothill Boulevard in Upland, CA (zip code 91786), near major freeways (I-10, I-15, and I-210). The property's location benefits from excellent demographics, with average household incomes exceeding $113,400 within a 3-mile radius and a population of over 156,000. Built in 1970, this single-building property is zoned for commercial use and presents a significant opportunity for long-term income generation and potential future development. The asking price is $6,774,000. This investment offers a blend of immediate returns and long-term growth potential, secured by a financially stable, nationally recognized tenant.

Highlights

  • $6,774,000 asking price for a 9,348 SF retail property.
  • Absolute NNN ground lease with Bank of America, a single tenant.
  • 60-year lease with 4.1 years remaining; lease expires 12/31/2028.
  • 4.50% cap rate with a $304,850 NOI.
  • 100% occupancy; built in 1970 on a 1.96-acre lot with 60 parking spaces.

Property Details for 1211 Foothill Blvd

Property type
Retail properties, Banks
Square Feet
9,348 SF
Year Built
1970
Buildings
1
Lot Size (sq. ft)
85,378 SF

Location Insight

City
Upland
County
San Bernardino
State
California
Latitude
34.107635091372
Longitude
-117.6702579486
1211 Foothill Blvd, Upland, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1211 Foothill Blvd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message