Listed by CBRE Atlanta, CBRE - Atlanta, CBRE - Midtown Manhattan, CBRE - West LA, CBRE - San Diego
$3,826,087
United Pacific: Long Beach, CA (Atlantic Avenue)
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 793
Pumps 6
Cap Rate 5.75%
NOI $220,000
Occupancy 100%
Tenancy Single
Brand/Tenant 76 Gas, United Pacific
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 06/29/2034
Remaining Term 8.1
Rent Bumps Yes
Lease Options Three, 5-Year Options
Price per SqFt $4,825
Year Built 1960
Acreage 0.410
Parking Spaces 11 spaces
Parking Per SqFt 13.87
Investment Type Net Lease
Lease Commencement 07/01/2014
Retail | 5.75% CAP | 793 SqFt
Marketing description
CBRE is pleased to offer for sale the 793-square-foot United Pacific gas station and convenience store positioned on 0.41 acres in Long Beach, California — part of the Los Angeles MSA (MSA Population: 13M+). The site is subject to a ±8.2-year absolute NNN lease with a rental increase of 7.50% in July 2029 and in each of the three, 5-year renewal options.
Business is not for sale
Investment highlights
- Absolute NNN Lease with Increases: The site is subject to a ±8.2-year absolute NNN lease with a rental increase of 7.50% in July 2029 and in each of the options (3 x 5-year options).
- High Barriers to Entry: Irreplaceable location with high barriers to entry for new gas competitors.
- Long-Term Operating History: Operating history of 65+ years.
- Intrinsic Underlying Value: Infill location with strong underlying intrinsic value.
- Los Angeles MSA Advantage
Listing Contacts
Listed by CBRE Atlanta, CBRE - Atlanta, CBRE - Midtown Manhattan, CBRE - West LA, CBRE - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$220,000.00
$18,333.33/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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