Listed by Voit Real Estate Services San Diego
$3,800,000
8130 Parkway Drive
Details
APN 464-050-15-00
Property Type Retail
Sub Type Auto Shop, Showroom
Square Footage 8,000
Cap Rate 5.17%
NOI $196,628
Tenancy Single
Brand/Tenant MobilityWorks
Lease Type NNN
Lease Term 5
Lease Expiration 08/17/2031
Rent Bumps Yes
Lease Options None (final option exercised, commences August 19, 2026. No more remaining.)
Price per SqFt $475
Year Built 1972
Acreage 0.730
Parking Spaces 41 spaces
Parking Per SqFt 5.12
Investment Type Net Lease
Rent Commencement 08/18/2016
8130 Parkway Drive, La Mesa, CA 91942
Investment highlights
- Tenant : "Leading Dealer Of Wheelchair Vans"
- Guarantor : Entity provided upon request (110 locations, over $800M revenue; additional financial info available upon NDA)
- Rent Commencement : August 19, 2016
- Lease Expiration : August 18, 2031
- Lease Term : 5-Year Initial Term, renewed twice
- Options : None (final option exercised, commences August 19, 2026. No more remaining.)
- Rent Increases : Three percent (3%) Annually
- Lease Type : *NNN
- ROFR : None
- RE Taxes : Tenant pays real estate taxes, but increase due to sale is not passed-through (factored into approximate NOI)
- Insurance : Tenant reimburses
- Roof / Structure : Landlord (Roof replaced November 2023)
- Tenant Maintenance : Tenant shall maintain non-structural portions of the Premises, and shall repair plumbing, HVAC, appliances, doors, windows, plate glass, interior ceilings, lighting systems, wiring and cabling, phone systems, and signage
- Landlord Maintenance : HVAC maintenance exceeding $500 per service, and $1,500 per year; maintenance,repair and replacement of the roof, foundation, parking lot, sprinkler systems, and asphalt components
Listing Contacts
Listed by Voit Real Estate Services San Diego
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$196,628.00
$16,385.67/mo
Valuation Metrics
0
DSCR
5.17%
Cap Rate
5.17%
ROI
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