Property details
Rental Lease, Pacific West Region
Property Description
• Rental Lease property with dependable rental lease income store open for 39 years!
• This store has been enjoying rental lease income for 39 years!
• MSA is one of the fastest growing rental lease economies in US!
• Very low rent per sq. ft. mean easier rental lease opportunities should the tenant ever leave
• In the heart of a downtown market
Pep Boys has operated at this location since 1969 (over 38 years!) confirming the viability of the site and market. The immediate area is dense with local retail as well as national brands such as Food 4 Less, McDonalds, Marshalls, Jack in the Box, Napa Auto Parts, and AutoZone 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:
- Sold
- Price:
- $3,586,000
- PSF:
- $157
- Cap Rate:
- 5.75%
- Annual Rent:
- $206,172
- Rent Increases:
- 1.50% Annually
Property Information
- Building Size:
- 22,908 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Auto Parts - Repair
- Units/Spaces:
- 1
- Year Built:
- 1969
- Land Area:
- 1.13 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 - NNN Rental Lease
- 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.