30 Smith Ranch RdSan Rafael, CA 94903

This exceptional investment opportunity presents a single-tenant, 8,589 square foot Bank of America branch located on a 1.45-acre lot in San Rafael, California. The property boasts a highly desirable location at the corner of Smith Ranch Road and Redwood Highway, providing immediate access to Highway 101, a major commuter artery with over 173,700 vehicles per day. The building, constructed in 1982 and renovated in 2018, features a drive-thru and is situated within a thriving commercial corridor. The property benefits from a strong demographic profile, with an average household income exceeding $173,189 within a three-mile radius and a population of 52,030. The Net Lease (NNN) structure offers a passive income stream, with a current NOI of $312,814 and a 5.50% cap rate. The lease with Bank of America, a credit-rated tenant, has a remaining term of five years, with two ten-year renewal options and a 10% rent bump scheduled for December 1, 2024. The property is zoned PD and includes a ground lease. Nearby amenities include the Northgate Mall, featuring major retailers like Macy's and Kohl's, and various other national and local businesses. This investment offers a compelling combination of strong tenant credit, a prime location, and significant upside potential. The asking price is $5,700,000, translating to $663.64 per square foot.