220 S Vincent Ave | West Covina, CA 91790
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- LoopNet Team
220 S Vincent Ave
West Covina, CA 91790
Banc of California · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Ten (10)-year corporate lease with Banc of California, including two (2), five (5)-year renewal options, demonstrating their long-term commitment.
- Corporate Guarantee from Banc of California, a well-capitalized institution with over $34 billion in assets and 80 full-service branches.
- Ideal management-free investment for a passive investor.
- Two percent (2%) annual rent increases throughout the initial and option terms, providing rental upside and an excellent hedge against inflation.
- Tenant is responsible for all expenses including CAM, taxes, insurance, and maintains all aspects of the property.
- The existing ground rent is below market. Neighboring comparable sites have leased at higher rates.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
5,018 SF
Building Class
B
Year Built
2003
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.81 AC
Zoning
WCCR - Limited Commercial
Parking
48 Spaces (9.57 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 8474-010-011 | Improvements Assessment | $1,265,636 |
| Land Assessment | $534,052 | Total Assessment | $1,799,688 |
PROPERTY TAXES
Parcel Number
8474-010-011
Land Assessment
$534,052
Improvements Assessment
$1,265,636
Total Assessment
$1,799,688
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