Property details
Southern California NNN Parking Lot | Annual Increases, Pacific West Region
Property Description
Southern California NNN Parking Lot | Annual Increases
Rare investment opportunity to acquire the fee simple interest in an approx. 27,000 square foot parking lot in a residential community perceived by many investors to be one of the most desirable rental markets in Southern California.
Lease Guarantor Rite Aid
Initial Lease Term 20 Years
Guaranteed Term Remaining 17 Years
Lease Type NNN - Absolute Net
Lease Guarantor Corporate
Rent Commencement Date October 2015
Expiration Date December 2035
Aggressive 5.25 Percent Increases Annually
No Options to Extend at End of Lease
No Tenant Right of First Refusal
Rare Opportunity To Acquire A Net Leased Investment Property At “Main And Main” In Southern California
Leased To Rite Aid Corporation (NYSE:RAD) Through December 2035
Tremendous Re-Development Potential Upon Lease Expiration
Annual Rental Increases Of 5.25 Percent - Well Above Market
Mission Critical Parking Lot Essential To Rite Aid
Images
Highlights
- Status:
- Available
- Price:
- $8,000,000
- Cap Rate:
- 3.26%
- Rent Increases:
- Annual 5.25% Increases!
Property Information
- Property Type:
- Net Lease
- Industry Type:
- Parking
- Units/Spaces:
- 1
- Land Area:
- 27,000 sq.ft.
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Rite Aid
- Lease Type:
- NNN
- Lease Commencement:
- 12/12/2018
- Lease Expiration:
- 12/12/2018
- Lease Remaining:
- 17.0 years
- Landlord Responsibilities:
- None - NNN
- Options:
- No options
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.