Property Details

US Bank - San Diego

Sold
  • US Bank

  • Sold for $2,600,000
  • 5,854 sq ft building, 12,502 sq ft corner lot
  • NNN ground lease with US Bank Corp
  • 7 years remaining on NNN lease with corporate guaranty
  • 9.1% CAP rate with rental increases every 5 years
  • Financing provided by US Bank-55% loan to value
  • 9%+ cash-on-cash return at close of escrow
  • Prime Pacific Beach location  corner of Grand Ave and Ingraham St
  • Tremendous traffic count and visibility
  • Well seasoned bank location since 1976
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