Current Use by Public Records
- First American Title Company / Title Company / Escrow Service
- Mavis / Law Firm
- ATM - Umpqua Bank / Atm
- Umpqua Bank / Loan Service
- TNT Fireworks / Discount Store / Party Supply Store
Property Details for 805 Eleventh St
- Year built
- 1994
- Lot size
- 0.92 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lakeport
- County
- Lake
- State
- California
- Longitude
- -122.922
- Latitude
- 39.0487
