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Banc of California Net Leased Investment 1050 W 6th St 5,936 SF Retail Building Corona, CA 92882 $3,790,000 ($638.48/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Continuously operated as a bank since July 1995 (initially Foothill Independent Bank), with a separate drive-thru ATM
- Current rent is $218,069/yr (˜ $3.06/SF/Mo NNN), versus an estimated market $4.50–$5.00/SF/Mo NNN for a retail user leveraging the drive-thru
- The lease includes rare 3% fixed rental increases, along with a fair market value option
- Banc of California’s branch benefits from a strong and growing deposit base of over $990,000,000
EXECUTIVE SUMMARY
CBRE is pleased to present a single tenant net leased Banc of California in Corona, CA. The property is prominently located along West 6th Street, one of Corona’s most visible and well-traveled commercial corridors, offering convenient access to both the SR-91 and I-15 freeways less than a mile away. Banc of California has operated a full-service branch at this site since 1995, underscoring its long-term commitment to the location. The property features a dedicated drive-thru ATM, enhancing customer convenience and supporting consistent branch traffic.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Bank
Building Size
5,936 SF
Building Class
C
Year Built
1965
Price
$3,790,000
Price Per SF
$638.48
Cap Rate
5.75%
NOI
$218,069
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
0.65 AC
Zoning
C-3 - Retail Trade
Parking
25 Spaces (4.21 Spaces per 1,000 SF Leased)
Frontage
113’ on W 6th St
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 110-062-013 | Improvements Assessment | $1,060,432 |
| Land Assessment | $607,583 | Total Assessment | $1,668,015 |
PROPERTY TAXES
Parcel Number
110-062-013
Land Assessment
$607,583
Improvements Assessment
$1,060,432
Total Assessment
$1,668,015
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Banc of California Net Leased Investment | 1050 W 6th St
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