Listed by Bang Realty, Voit Real Estate Services San Diego
$2,900,000
2845 West Cleveland Road
Details
Property Type Retail
Sub Type Free standing
Square Footage 14,820
Cap Rate 11.08%
NOI $321,300
Tenancy Single
Lease Type Absolute NNN
Lease Term 75
Lease Expiration 05/30/2080
Lease Options Next termination option is 05/31/2030
Year Built 2005
Acreage 2.140
Ownership Public
GREAT INVESTMENT OPPORTUNITY 11% CAP RATE
Marketing description
Easy Access Excellent Visibility
Developed in 2005, the property is located on the cross-street of West Cleveland Road and North Bendix Drive with excellent visibility from the Interstate 80 Toll Road
Close Proximity to Anchored Center
Property sits adjacent to Aldi and Goodwill with a Meijer and a Super Walmart in close proximity
Investment highlights
- Rent Commencement Two (2) months after completion of construction and delivery of possession to Tenant.
- Lease Expiration May 31, 2080 Next Termination Option: 05/31/2030
- Lease Term Seventy-Five (75) Years
- Extension Rights Tenant Has Option To Extend Term Upon 6 Months Prior Notice.
- Right Of First Refusal Tenant Has 30 Days To Accept / Respond To Seller’s Notice Of An Offer.
- Base Rent $26,775.00 Per Month
Listing Contacts
Listed by Bang Realty, Voit Real Estate Services San Diego
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$321,300.00
$26,775.00/mo
Valuation Metrics
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DSCR
11.08%
Cap Rate
11.08%
ROI
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