Listed by Marcus & Millichap - San Diego
$3,996,000
PANDA EXPRESS W/ DR-THRU - TOP 8% IN CHAIN | ABSOLUTE NET
Details
APN 107-280-050-000
Property Type Retail
Sub Type Restaurant, QSR/Fast Food
Square Footage 2,500
Units 1
Cap Rate 4.25%
NOI $170,000
Tenancy Single
Brand/Tenant Panda Express
Lease Expiration 09/30/2036
Remaining Term 10.2
Rent Bumps Yes
Class A
Year Built 2007
Acreage 0.820
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease Yes
Retail | 4.25% CAP | 2,500 SqFt
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
Investment highlights
- Corporate Backed Absolute Net Ground Lease. Recent 10-Year Lease Extension - 20+ Year Historical Occupancy Demonstrating a Strong Commitment to the Location. Ranked Top 8% in Chain Nationwide.
- Positioned Along Area’s Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 35k Vehicles. Immediate Access to/from Interstate-5.
- Panda Express, the Largest Asian Restaurant Chain in the U.S., is Owned by Family-Led Panda Restaurant Group, operating over 2,800 Locations Globally and known for Signature Dishes.
- Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is One of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
- Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
- Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
- Surrounded by Numerous National Retailers including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe’s, WinCo Foods and many more.
- The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, an 1,800-Seat Event Center and a 1,500-Seat Outdoor Amphitheater.
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,000.00
$14,166.67/mo
Valuation Metrics
0
DSCR
4.25%
Cap Rate
4.25%
ROI
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