1211 Foothill Blvd Upland, CA 91786-3681

This Upland, CA property offers a compelling investment opportunity featuring a 9,348 square foot Bank of America branch operating under a 60-year absolute NNN ground lease. The lease, commencing January 1, 1969, has a remaining term of approximately 4.1 years with one 5-year option remaining. The property boasts a strong 4.50% cap rate and a substantial NOI of $304,850, supported by over $322 million in confirmed branch deposits (October 2024). Bank of America, an investment-grade tenant with an A+ S&P rating, covers all property expenses, including taxes, insurance, and maintenance, minimizing landlord responsibilities. Rent increases are tied to 6.5% of the Fair Market Value of the land every five years during option periods. The property sits on a 1.96-acre lot with 60 parking spaces, located at a high-traffic hard corner on Foothill Boulevard in Upland, CA (zip code 91786), near major freeways (I-10, I-15, and I-210). The property's location benefits from excellent demographics, with average household incomes exceeding $113,400 within a 3-mile radius and a population of over 156,000. Built in 1970, this single-building property is zoned for commercial use and presents a significant opportunity for long-term income generation and potential future development. The asking price is $6,774,000. This investment offers a blend of immediate returns and long-term growth potential, secured by a financially stable, nationally recognized tenant.