Apollo Auto NNN
Retail | 5.00% CAP | 1,170 SF
Marketing description
CBRE Investment Properties has been retained by Ownership as the exclusive marketing adviser for 11400 Garvey Ave in El Monte, Los Angeles County, CA (“the Property”). Situated on a 22,510 SF lot, the Property is 100% occupied by Apollo Auto, an established car dealership, who will execute a 3-year, NNN leaseback of the site at close of escrow.
11400 Garvey Ave presents an extremely rare opportunity to purchase a single tenant net lease asset in the San Gabriel Valley with a growing cash flow stream and affords savvy investors/developers the future ability to redevelop the hard-corner site to accommodate a vertical residential development.
Investment highlights
Ideal 1031 Exchange- Prime San Gabriel Valley STNL property with no management responsibilities make 11400 Garvey Ave an ideal 1031 exchange candidate.
Tremendous Residential Redevelopment- Given the site’s MMU (Mixed/Multiuse)/R3 zoning, the Property offers a tremendous residential redevelopment opportunity upon expiration of the Tenant's lease/option. Unique potential to collect cash flow during the entitlement process.
NNN Lease Structure- Upon close of escrow, Apollo Auto will be fully responsible for all property maintenance, repairs, operating expenses and real estate taxes, ensuring a hands-off investment for new ownership.
Strong Annual Rent Increases- 11400 Garvey Ave offers 3% annual rent increases allowing for a growing income stream during the leaseback term and option period.
Hard Corner Location- Located at the hard corner of Garvey Ave and Dee Ave, just one block off the heavily traveled Garvey Ave/Peck Rd intersection with exposure to more than 45,161 cars per day.
Infill San Gabriel Valley Demographics- Densely populated location with over 197,943 residents having an average household income of $97,936 within three miles.
High Barriers to Entry- Infill and mature San Gabriel Valley trade area with limited sites available for future development creating high barriers to entry for future competition.
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