Situated in the Lincoln Village Area and surrounded by prominent retail establishments, this Bank of America site boasts an exceptional location directly off the heavily traveled Pacific Avenue. The property holds significant potential for growth, given its status as a low-rent, high-deposit location with convenient accessibility.
Bank of America has recently exercised an early 5-year extension, commencing in 2024, and has multiple 5-year options with built-in rent increases. The additional space available within the Bank of America building provides an investor existing income with immediate upside or Owner-User potential. Lease up of 5,303 Vacant Space at $0.95 NNN / Month Equates to 8.19% Proforma Cap Rate. An opportunity rarely found in core investments with credit tenants in a prime location.