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Views: 66 DOM: 235 Updated: 07.16.24 Posted: 01.17.24 Status: Active

Summary

Price $1,719,000
Built/Renov 1977
Tenant Wells Fargo
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,129
Lease Start 02-01-1981
#Units 4,000
Price/SF $549.38
Expiration 01-31-2030
Tenant Type Bank/Financial
NOI $85,941
R. Term 5.4
Ownership Fee Simple
Rent/SF $27.47
Increases 7.5%/2/yrs
Pop 5Mi 72,400
Lot/AC 0.98
Options 4/5yrs/7.5%
AHHI 5Mi $79,412

Lease Highlights

  • Wells Fargo has been operating in this location since 1981
  • The tenant has 6 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 7.5% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wells Fargo is strategically located at the signalized, hard corner intersection of Yellowstone Ave, the primary retail corridor, and Pine Ridge E, which has a combined daily traffic count of 28,000 vehicles. Positioned as an outparcel to Pine Ridge Mall, a regional mall, the property enjoys proximity to prominent national retailers such as Walmart Supercenter, Costco, Lowe’s, The Home Depot,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wells Fargo
  • Guarantor:Corp T and Rated
  • Company:Wells Fargo & Company
  • # Units:4,000
  • Tenant S&P: BBB+
  • Moody’s: A1
  • Stock: NYSE: WFC

About Tenant

Wells Fargo & Company is an American multinational financial services company with operations in 35 countries and over 70 million customers globally. The firm's primary subsidiary is Wells...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,872 53,789 73,123
2023 Total Population : 8,518 52,711 71,996
2023 Employed Civilian Pop : 3,544 22,863 31,652
2023 Total Businesses : 444 1,722 2,710
2023 Average Household Income : $ 67,180 $ 80,092 $ 79,178
2023 Total Consumer Spending : $ 196 M $ 1378 M $ 1865 M
2023 Median Age : 34 33 33
2023 Total Households : 3,338 19,779 27,060
2023 Pop Age 25+: Bachelor's Degree : 738 7,243 9,834
2023 Average Home Value : $ 203,320 $ 277,885 $ 287,626
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Yellowstone Ave Brenemen Rd 2012 19,804 0.04 mi
Yellowstone Ave Pole Line Rd 2013 26,500 0.06 mi
Yellowstone Ave Brenemen Rd 2013 28,000 0.11 mi
Yellowstone Ave Bullock St 2003 25,000 0.15 mi
Lou Avenue 2012 2,594 0.16 mi
Lou Avenue Yellowstone Ave 2019 3,000 0.19 mi
Yellowstone Ave I- 86 2012 26,579 0.21 mi
Yellowstone Ave Pole Line Rd 2013 16,500 0.21 mi
I- 86 Yellowstone Ave 2003 1,700 0.21 mi
Pole Line Rd W Quinn Rd 2018 10,500 0.22 mi

Listing Broker

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