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Wells Fargo | Santa Monica, CA 170 Pier Ave 4,939 SF Retail Building Santa Monica, CA 90405 $8,600,000 ($1,741.24/SF) 5.12% Cap Rate
Investment Highlights
- Single-Tenant Wells Fargo Bank; Over 6 Years Remaining with One 5-Year Option at Fair Market; Investment-Grade Credit (S&P: BBB+)
- NNN Lease; Ease of Management; 2026 Planned Renovation; Tenant Investment Into Exterior and Interior Upgrades
- Positioned Along Santa Monica's Largest North/South Coastal Thoroughfare: Neilson Way, Ocean Avenue and Pacific Avenue
- Call for offers 8/14; Corporate Guaranty; Long-Term Historical Occupancy; Tenant Since 2007
- Rare Parking Lot Included with Approximately 22 Spaces; Approx. 1/3 Acre Parcel Allows for Future Development Potential
- Prime Santa Monica Location Less Than 1 Block from the Beach
Executive Summary
Single-Tenant Wells Fargo Bank | Over 6 Years Remaining with One 5-Year Option at Fair Market | Tenant Since 2007
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
4,939 SF
Building Class
B
Year Built
1956
Price
$8,600,000
Price Per SF
$1,741.24
Cap Rate
5.12%
NOI
$440,563
Tenancy
Single
Building Height
1 Story
Building FAR
0.37
Lot Size
0.31 AC
Zoning
SMCM4* - Office, Commercial, Service, Retail
Parking
22 Spaces (4.45 Spaces per 1,000 SF Leased)
Frontage
63’ on Pier Ave
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Wheelchair Accessible
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
Wells Fargo began in 1852, when Henry Wells and William Fargo founded the original company during the California gold rush. The company now serves consumers, small businesses, commercial clients, and institutional customers through banking, credit cards, mortgage, auto lending, investing, wealth management, and insurance-related services. Wells Fargo also offers commercial banking, treasury management, and other financial solutions for businesses, while maintaining a broad distribution network across North America and international markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
60/100
Exceptionally bikeable
90/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4288-007-001 | Improvements Assessment | $295,947 |
| Land Assessment | $13,909,619 | Total Assessment | $14,205,566 |
Property Taxes
Parcel Number
4288-007-001
Land Assessment
$13,909,619
Improvements Assessment
$295,947
Total Assessment
$14,205,566
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