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Wells Fargo Bank 4000 Foothill Blvd 6,500 SF 100% Leased Retail Building Glendale, CA 91214 $6,875,000 ($1,057.69/SF) 5.49% Cap Rate
Investment Highlights
- Wells Fargo Bank has occupied the branch since 2006 and has approximately six (6) years of lease term remaining.
- Investors get the benefit of two (2) corporate tenants occupying a 6,500 sq. ft. building under one, corporate NNN lease with Wells Fargo.
- The large 23,500+ sq. ft. lot possesses a highly desirable C3 zoning, which allows for a wide range of future redevelopment opportunities.
- Wells Fargo subleased part of the building to Verizon Wireless.
- The Tenant pays for CAM, taxes, insurance, and maintains most aspects of the property.
- The property is situated at the signalized intersection of Foothill Boulevard and Lowell Avenue in Glendale, CA.
Executive Summary
Long-Term Single-Tenant NNN Wells Fargo Branch with Strong Intrinsic Value
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,500 SF
Building Class
B
Year Built
1996
Price
$6,875,000
Price Per SF
$1,057.69
Cap Rate
5.49%
NOI
$377,655
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.54 AC
Zoning
C3 - Commercial
Frontage
183’ on Foothill Blvd
Walk Score®
Very Walkable (77)
Nearby Major Retailers
Property Taxes
| Parcel Number | 2572-001-017 | Improvements Assessment | $981,121 |
| Land Assessment | $1,197,767 | Total Assessment | $2,178,888 |
Property Taxes
Parcel Number
2572-001-017
Land Assessment
$1,197,767
Improvements Assessment
$981,121
Total Assessment
$2,178,888
Contacts
-
Patrick Wade -
Alex Kozakov -
Matthew Greenberg -
Jack Webber -
Bo Henderson -
Vivian Tran -
CBRE, Inc.
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Presented by
Wells Fargo Bank | 4000 Foothill Blvd
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