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Wells Fargo 1800 Solano Ave 3,976 SF Retail Building Berkeley, CA 94707 $4,258,000 ($1,070.93/SF) 5.35% Cap Rate
Investment Highlights
- 5+ years remaining on absolute net lease featuring 2% annual rental increases
- Significant branch deposits – $433M
- Investment grade credit rating – S&P: A+
- Historic bank location – 45+ year operating history
- Zero landlord expense or maintenance obligations
- Extremely affluent Bay Area submarket – average household incomes of $ 234,000+ within a 1-mile radius of the subject property
Executive Summary
Newly extended corporate Wells Fargo lease featuring 2% annual rental increases and one additional 5-year extension option. The subject property is located in Berkeley – an extremely affluent Bay Area submarket boasting average household incomes of $234,000 within a 1-mile radius of the subject property.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,976 SF
Building Class
B
Year Built
1951
Price
$4,258,000
Price Per SF
$1,070.93
Cap Rate
5.35%
NOI
$227,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.27 AC
Zoning
C-1A
Parking
15 Spaces (3.77 Spaces per 1,000 SF Leased)
Frontage
90’ on Solano Ave
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (84)
Nearby Major Retailers
Property Taxes
| Parcel Number | 061-2612-001-00 | Improvements Assessment | $543,953 |
| Land Assessment | $615,149 | Total Assessment | $1,159,102 |
Property Taxes
Parcel Number
061-2612-001-00
Land Assessment
$615,149
Improvements Assessment
$543,953
Total Assessment
$1,159,102
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Wells Fargo | 1800 Solano Ave
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