1248 5th Ave
San Rafael, CA 94901
Union Bank of California · Retail Property For Sale

SRS National Net Lease Group is pleased to present the rare opportunity to acquire Union Bank, a corporate guaranteed, absolute NNN leased, investment property located in San Rafael, California (Marin County). The tenant, Union Bank, is in their first 5-year option period with 2 years remaining in their current term. Union Bank has been operating at this location for more than 22 years. Union Bank is a subsidiary of Mitsubishi UFJ Financial Group (NYSE: MTU | S&P: A). The lease features annual CPI rental increases, which generates NOI growth and hedges against inflation. This Union Bank has $82 million in branch deposits as of June 2016. The bank features double drive-thru ATM’s with parking in paved lot and roof for easy access. Union Bank is located at the signalized, hard corner intersection of C Street and 5th Avenue (16,800 vehicles per day) with excellent visibility. Additionally, the site is half a mile away from U.S. Highway 101 (193,000 vehicles per day) with direct on/off-ramp access. The subject property is located in Downtown San Rafael, featuring many local restaurants, retail stores, and financial institutions. Nearby national/credit retailers include Safeway, Walgreens, O’Reilly Auto Parts, and more, which further increases consumer draw to the subject trade area. The 5-mile trade area is supported by an affluent population of 143,500 with an average household income of $139,500.