Listed by RE/MAX Fine Properties
$1,900,000
NNN Ground Lease for Sale
Details
APN 22038011F
Property Type Land
Sub Type Commercial
Lease Expiration 05/01/2031
Remaining Term 4.9
Rent Bumps Yes
Lease Options 4 x 5yr.
Pro-Forma Cap Rate 7.26%
Pro-Forma NOI $138,000
Acreage 0.690
Zoning C-3
Ownership Leased Fee
Land | 0.69 acres
Marketing description
Absolute NNN ground lease to the adjacent Health For Life dispensary. It has 200 feet of frontage along Main Street(Apache Tr) and a depth of 150 feet. Direct access to Main St. from existing 30 feet curb cut. Sidewalks and streetlamps are in place along Main St.
This property can be combined with the adjacent 4.6 acre mixed use property with frontage along both Main Street (Apache Tr.) and Crismon Road.
Investment highlights
NNN Investment with corporate guarantee. Lease originated April 20, 2021 with primary term of 10 years and four (4) x five (5)-year options. Current rent is $10,000/month through 5/26. Rend adjusts in May 2026 to $11,500/month, then per the following schedule: LY11: $13,225/mo. | LY16: $15,209/mo. | LY21: $17,490/mo. | LY26:
$20,114/mo.
Listing Contacts
Listed by RE/MAX Fine Properties
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