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24946788
24946787

1055 W 21st St, San Bernardino, CA 92405

DS
CA 02104458
CBRE - Orange County
JR
CA 01359444
CBRE - Orange County
Listed by CBRE - Orange County
$25,000,000
319 days on market
Updated 52 days ago
Opportunity zone

The Home Depot

Details
APN 0144-032-24, 0144-032-31, 0144-042-46, 0144-101-29
Property Type Retail
Sub Type Anchor, Home Improvement
Square Footage 133,780
Net Rentable (SqFt) 133,780
Cap Rate 5.04%
NOI $1,261,208
Occupancy 100%
Brand/Tenant Home Depot
Lease Type Absolute NNN
Lease Term 45
Lease Expiration 01/31/2032
Remaining Term 5.7
Lease Options Three 5-Year Options
Price per SqFt $187
Year Built 1966
Year Renovated 1985
Acreage 11.000
Zoning CG-1-General Commercial
Lease Commencement 02/01/1987

Retail | 5.04% CAP | 133,780 SqFt

Marketing description

  • Rare STNL The Home Depot Opportunity – STNL asset with a publicly traded, investment-grade credit national tenant on a long-term Absolute NNN lease

    • 100% leased to The Home Depot (NYSE: HD), the world’s largest and leading home improvement specialty retailer with over 2,300 locations, a market capitalization of $357 billion and revenue of $163 billion

  • Established, High-Performing The Home Depot Location – This is an established and top performing The Home Depot store, as proven by many factors (download the Offering Memorandum for more details)

  • Outstanding NOI Growth – Due to fixed rental increases of 8.50% on base rent every 5 years (next increase in February 2027) as well as rare percentage rent income, the property provides outstanding income growth, and a strong inflationary hedge compared to many “flat” STNL investments

  • Large Scale Covered Land Play, Future Redevelopment Opportunity – The Home Depot is situated on a large ±11-acre site centrally located in San Bernardino, immediately off Interstate 215. While The Home Depot will very likely remain at this location long-term given its success, the property presents an excellent redevelopment opportunity in the future given its pricing at just $58 PSF on a Land PSF basis.

  • Regional, Freeway Adjacent Location – Ideally located along Interstate 215 (±118,000 CPD), with direct on-/off-ramp access via W Highland Ave (±29,800 CPD) and adjacent to name brand tenants including Stater Bros Markets, Dollar Tree, AutoZone, McDonald’s, 7-Eleven, Jack in the Box and others, generating tremendous traffic to the immediate trade area

Listing Contacts

DS
CA 02104458
CBRE - Orange County
JR
CA 01359444
CBRE - Orange County
Listed by CBRE - Orange County

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$1,261,208.00
$105,100.67/mo

Valuation Metrics

0
DSCR
5.04%
Cap Rate
5.04%
ROI

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Additional Information

Name
David Swerdlow
License
02104458
Brokerage Phone
9497694855
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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