1211 Foothill BlvdUpland, CA 91786

Property Details for 1211 Foothill Blvd

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.96 AC

Property size (Sq ft)

9,162 SF

Property type

Retail properties

Property subtype

Banks

APN

1006-511-44-0000

APU

1006511440000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,354,432

  6.5%

  $3,096,398

  7%

  $2,875,227

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,914,625

  Geo Method

  $5,919,923

• Alternative Use

  Use

  Valuation

  Residential

  $2,611,928

  Hospitality

  $2,392,512

  Educational

  $1,990,542

  Medical

  $2,059,000

  Retail

  $3,096,398

Location Insight

City

Upland

County

San Bernardino

State

California

Latitude

34.1078

Longitude

-117.671

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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