Property details
Real Estate Lease, Pacific West Region
Property Description
• Real Estate Lease with great visibility and signage
• This is an excellent real estate lease with the building in excellent condition (renovated 2004)
• Located in a very dense retail real estate market! High traffic counts.
• Large lot 1.75 acres
Pep Boys has been under a real estate lease and operated at this location since January 1996 and the store was recently refurbished in October 2004. Other retailers in the area include CVS, Blockbuster, McDonalds, Burger King, and Comfort Inn to name a few.
About the Tenant
The Pep Boys - Manny, Moe & Jack (NYSE: PBY) is a leading automotive parts/accessories retailer and automotive maintenance and service provider.
Images
Highlights
- Status:
- Under contract
- Price:
- $6,416,000
- PSF:
- $303
- Cap Rate:
- 5.75%
- Annual Rent:
- $368,900
- Rent Increases:
- 1.50% Annually
Property Information
- Building Size:
- 21,195 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Auto Parts - Repair
- Units/Spaces:
- 1
- Year Built:
- 1996
- Land Area:
- 1.74 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Pep Boys
- Lease Type:
- NNN
- Lease Commencement:
- 11/27/2007
- Lease Expiration:
- 11/26/2022
- Lease Term:
- 15 years
- Years Remaining:
- 14 years
- Landlord Responsibilities:
- None
- Options:
- Four 5-Year
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.