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Bank of America 339 N Yale Ave 13,548 sq ft Retail Property Claremont, CA 91711 £8,574,007 (£632.86/sq ft) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Under Market Rent | Fair Market Options
- Potential Owner-User | Redevelopment
- Strong Credit Tenant | Significant Deposit Base
EXECUTIVE SUMMARY
Newmark Pacific Capital Markets is pleased to present to qualified investors the opportunity to acquire a single tenant absolute NNN Bank of America consisting of 13,548 square feet on a large 0.74-acre parcel. The value proposition for an investor and/or owner-user is the ability to mark Bank of America to market rent in 2.5 years. Currently paying $6.43 per square foot annually in a market supporting rents of $60-72 per square foot, makes this an intriguing and unique opportunity in a high barrier to entry, affluent, and highly educated submarket.
Claremont is known for being home to several esteemed private colleges and universities, which includes Pomona College, Claremont McKenna, Harvey Mudd, Scripps College, Pitzer College, Claremont Graduate University, and Keck Graduate Institute. These institutions are some of the most competitive and selective universities in the country, with four of the five undergraduate colleges being the most selective in the US by acceptance rate, and the remaining college, Scripps, had the second lowest acceptance rate among women’s colleges.
Claremont is known for being home to several esteemed private colleges and universities, which includes Pomona College, Claremont McKenna, Harvey Mudd, Scripps College, Pitzer College, Claremont Graduate University, and Keck Graduate Institute. These institutions are some of the most competitive and selective universities in the country, with four of the five undergraduate colleges being the most selective in the US by acceptance rate, and the remaining college, Scripps, had the second lowest acceptance rate among women’s colleges.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Property Size
13,548 sq ft
Costar Property Class
B
Year Built
1974
Price
£8,574,007
Price per sq ft
£632.86
Yield
6%
NOI
£514,463
Tenancy
Single
Number of Floors
1
Plot ratio
0.59
Total Plot Size
0.53 ac
Use Class
CV - CV Claremont Village District
Parking
26 Spaces (1.92 Spaces per 1,000 sq ft Leased)
Frontage
154 ft on N Yale Ave
AMENITIES
- Bus Route
Walk Score®
Excellent pedestrian access (95)
Bike Score®
Good for cycling (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £2,133,873 | |
| Land Assessment | £1,200,299 | Total Assessment | £3,334,171 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,200,299
Improvements Assessment
£2,133,873
Total Assessment
£3,334,171
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Bank of America | 339 N Yale Ave
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