Former Bank of America - Double Drive-Thru - 1 Acre Lot
Excellent Redevelopment Repositioning Play - Former Bank w/ Drive Thru - Downey CA
Marketing description
The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present a versatile infill retail opportunity with owner-user or re-development potential in Downey, CA.
Formerly a Bank of America, the 5,950 SF vacant stand-alone building is located near the heavily trafficked intersection of Paramount Blvd and Florence Ave, with over 70,000+ vehicles passing daily. The property features a two-lane drive-through and ample parking with 44 marked spaces on 1 acre of land.
Zoning allows for a myriad of retail, restaurant and medical uses. Developers can reposition the building or develop to take advantage of an existing double drive-thru site plan with ample parking. Owner-user investors can take advantage of attractive SBA financing (10-15% down) with major tax benefits like depreciation and cost segregation studies. For more details, contact the listing agents.
With over 682,542 people in a 5-mile radius and an average household income of $208,489, this infill location provides strong demographics for all potential uses.
Investment highlights
· Prime Location: Situated at the intersection of Paramount Blvd and Florence Ave in Downey, CA, with over 70,000 vehicles passing daily, ensuring high visibility and accessibility.
· Versatile Use: Zoned for a variety of uses including retail, restaurant, and medical, offering flexibility for different business models.
· Former Bank of America Building: A 5,950 SF standalone building, previously occupied by a reputable bank, suggesting a robust structure suitable for immediate occupancy or redevelopment.
· Drive-Through Advantage: Features a rare double drive-through, ideal for fast-food restaurants, pharmacies, or any business benefiting from drive-through services.
· Ample Parking: 44 marked parking spaces on a full acre of land, enhancing convenience for customers and employees.
· Development Potential: Ideal for developers looking to reposition or redevelop, leveraging the existing site plan for efficiency.
· Owner-User Benefits: Attractive financing options through SBA loans with as little as 10-15% down payment, plus significant tax advantages through depreciation and cost segregation.
· Strong Market Demographics: Serves a 5-mile radius population of over 682,542 with an affluent average household income of $208,489, supporting high-end retail or services.
· Infill Opportunity: Represents a rare infill development opportunity in a built-out area, reducing the risks associated with new developments in less established locations.
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