805 Eleventh St Lakeport, CA 95453

Property Details for 805 Eleventh St

Year built

1994

Lot size

0.92 lot acres

Property size

15,060 SF

Property type

Retail properties

Property subtype

Banks

Description

This exceptional investment opportunity presents a two-tenant, 15,060 square foot retail property located at 805 Eleventh St, Lakeport, CA 95453. The property boasts a 100% occupancy rate, anchored by Umpqua Bank (NASDAQ: COLB) and First American Title Company, both considered investment-grade tenants. The building, constructed in 1994, features two stories and sits on a 0.92-acre lot. The property enjoys a prominent location adjacent to a Safeway and CVS-anchored retail center, benefiting from excellent visibility and access along Eleventh Street (11,500 AADT). Strong demographics support the location, with a total daytime population of 12,798 within a 5-mile radius and an average household income of $90,170 within 1 mile. The Umpqua Bank branch holds approximately $127 million in deposits, representing the highest deposit level among Umpqua Bank branches in the county and the second-highest market share countywide. The property offers a compelling Net Operating Income (NOI) of $384,491, with an asking price of $6,410,000, resulting in a 6.00% capitalization rate. Both leases include annual rent bumps, ensuring future income growth. The property's location in Lakeport, a popular tourist destination on Clear Lake, further enhances its investment appeal. This is a rare opportunity to acquire a high-quality, net-leased retail property with strong tenants and significant upside potential.

Location Insight

City

Lakeport

County

Lake

State

California

Longitude

-122.922

Latitude

39.0487