805 11th St - Bank FOR SALE


Lakeport, CA 95453
$6,410,000 USD
510-289-1166
805 11th St, Lakeport, CA for Sale
$6,410,000 USD
Bank - FOR SALE
1/3
null | 6% Cap Rate

805 11th St
Lakeport, CA 95453


HIGHLIGHTS

  • Two-Tenant Retail Property Leased to Investment Grade Tenants with Annual Rental Escalations in Both Leases
  • Anchored by Long-Term Lease to Umpqua Bank (NASDAQ: COLB)
  • Very Strong Deposit Base Ensuring their Long-Term Commitment to this Location - $127 Million in Deposits
  • Excellent Access and Visibility along Eleventh Street - 11,500 AADT
  • Adjacent to CVS & Safeway-Anchored Retail Center
  • 120 Miles North of San Francisco

OVERVIEW

The subject property benefits from prominent retail location adjacent to a Safeway and CVS-anchored retail center with excellent access and visibility along 11th Street (11,500 AADT) in close proximity to its junction with CA-29. The site benefits from robust demographics with a total daytime population of 12,798 within a 5 mile radius and average household income of $90,170 within 1 mile of the site. Other retail tenants in the surrounding area include Grocery Outlet, Dollar Tree, Dollar General, and more. This branch of Umpqua bank holds approximately $127 million in deposits and has the highest level of deposits of Umpqua Bank branches in the county. Countywide, Umpqua Bank has the second-highest deposit market share of the 11 banks operating in the county. Lakeport (population 5,026) is the seat of Lake County, California, and is located on the western shore of Clear Lake, California’s largest wholly freshwater lake and the oldest lake in North America. The city is located approximately 125 miles north of Sacramento. Lakeport and the surrounding area are a popular tourist destination due to the lake’s large population of largemouth bass and popular watersports, including swimming, waterskiing, wakeboarding, boat races, and jet skiing.

FOR SALE DETAILS

PRICE

$6,410,000 USD

PRICE/SF

$349 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Umpqua Bank & First American Title Company

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

Retail

APN/PARCEL ID

026-301-280-000

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.