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Virtual Drive-By

Wells Fargo Bank NNN

170 Pier Ave · Santa Monica, CA 90405 · Banking / Financial

Asking price
$8,600,000
Cap rate
5.12%
NOI
$440,361

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeNNN
Term remaining5.9 yrs
Expiration06/2032
Rent bumpsFair Market Option
OptionsOne 5-year @ FMV
Ground leaseNo
Credit profileCredit Rated + Corporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF4,939
Price / SF$1,741
Year built1956
Lot size0.31 ac
TypeBank, Shopping Center
Days on market109

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​Single-Tenant Wells Fargo Bank

  • ​Over 6 Years Remaining with One 5-Year Option at Fair Market
  • ​Investment-Grade Credit (S&P: BBB+); Corporate Guaranty
  • ​Long-Term Historical Occupancy; Tenant Since 2007
  • ​NNN Lease; Ease of Management
  • ​2026 Planned Renovation; Tenant Investment Into Exterior and Interior Upgrades

  • ​Rare Parking Lot Included with Approximately 22 Spaces; Approx. 1/3 Acre Parcel Allows for Future Development Potential

  • ​Positioned Along Santa Monica's Largest North/South Coastal Thoroughfare: Neilson Way, Ocean Avenue and Pacific Avenue

  • ​Ocean Park/Main Street Retail Corridor is Renowned for its Walkable, Boutique Retail, Strong Food & Beverage, Local-Serving and Tourist Blend

  • ​Prime Santa Monica Location Less Than 1 Block from the Beach and Immediately Adjacent to Venice

  • ​Supply-Constrained, Infill Trade Area with High Barriers to Entry for Future Development

  • ​Dense and Affluent Westside Demographics: $188,000 Average Household Income and 420,000 Residents within 5 Miles

Property overview

CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.​ly/WellsFargo_SantaMonica

Take the next step on this property

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Property details and lease terms are open. Photography, the offering memorandum, lease abstract and due diligence materials are shared with registered buyers.

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.