Listed by SRS Real Estate Partners Newport Beach
$5,923,000
Velvet Taco
Details
APN 1503900010001
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,495
Cap Rate 6.5%
NOI $385,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 12/30/2035
Remaining Term 9.5
Rent Bumps Yes
Lease Options 2 (5-Year)
Year Built 1979
Year Renovated 2021
Acreage 0.230
Zoning Commercial
Parking Spaces 17 spaces
Parking Per SqFt 6.81
Tenant Credit Corporate Guarantee
Lease Commencement 12/31/2020
Ownership Fee Simple (Land & Building)
Retail | 6.50% CAP | 2,495 SqFt
Investment highlights
10+ Years Remaining | Options To Extend | Scheduled Rental Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Adjacent To The Galleria | Retail Corridor | I-610 (203,500 VPD) |Strong National/Credit Tenant Presence
Strong Demographics In 5-Mile Trade Area
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$385,000.00
$32,083.33/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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