Property details
Southern California 20-Year Absolute NNN Lease, Pacific West Region
Property Description
Southern California 20-Year Absolute NNN Lease
Rare Southern California 20-Year, NNN Lease
Rare true personal guaranty from 2 strong partners ($30M Net Worth).
2 acre corner lot on a very busy street.
Operations include a gas station, full service car wash, mechanic business bays, two C-stores.
You won’t find a stronger property long term 5.50% Cap in Southern California.
The operations does $500,000 in net profits annually.
Owners are offering a brand new, 20-year NNN lease that will commence at closing.
Four 5-years options to renew
Increases of 8.00% every 5 years in the primary 20-year term and in the options
Tenant 1 (us 70 percent) $35k monthly. This will turn into a new 20 year lease upon close. You will get two personal guarantees valued at 30 million dollars.
Tenant 2 (30 percent) $7 estimated. This lease is a newer 15 years lease. Personal Guarantee in place.
Images
Highlights
- Status:
- Available
- Price:
- $9,000,000
- Cap Rate:
- 5.50%
- Rent Increases:
- 8.00% every 5 years
Property Information
- Property Type:
- Net Lease
- Industry Type:
- Car Wash
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Southern California 20-Year Absolute NNN
- Lease Type:
- NNN
- Lease Commencement:
- 06/09/2018
- Lease Expiration:
- 06/09/2018
- Lease Remaining:
- 20.0 years
- Landlord Responsibilities:
- NNN
- Options:
- Four 5-years options to renew
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.