Listed by Hanley Investment Group
$6,420,000
Pet Food Express & Advanced Dental | Huntington Beach, CA
Details
Property Type Retail
Sub Type Storefront
Square Footage 8,600
Net Rentable (SqFt) 8,600
Cap Rate 5.25%
NOI $337,050
Occupancy 100%
Tenancy Multi
Lease Type NNN
Year Built 1973
Year Renovated 2023
Acreage 0.810
Ground Lease No
Trophy Coastal Location | Sprouts Shadow Anchor | Major Signalized Intersection
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/Petfood_HuntingtonBeach
Investment highlights
- Two-Tenant Shops to Dominant Sprouts Anchored Center (Top 18% Sprouts Nationwide per Placer.ai)
- Pet Food Express:
- New corporate lease with over 8.5 years remaining
- 12% rental increase in July 2029 and at the beginning of each 5-year option
- Pet Food Express has approximately 69 stores, all in California
- Advanced Dental:
- ~4.5 years remaining in the initial term
- 2% annual rental increases, providing an excellent hedge against inflation
- Approximately 30-year historical occupancy – Dr. Christensen has been providing dental care since 1997, and this location has been a staple dental office in the community
- Pet Food Express:
- Below-Market Rent with Shops Spaces in the Trade Area Leasing for 44% Higher than Advanced Dental’s Lease Rate
- Irreplaceable Coastal Real Estate Rarely Available on the Market
- Recent 2023 Remodel with Modern Design
- Recent Sprouts remodel, including new signage and a Klatch Coffee addition inside, demonstrating their commitment to the location
- Excellent Visibility and Frontage on Goldenwest Street and Warner Avenue with 6 Access Points of Ingress/Egress into the Shopping Center
- Major Signalized Intersection (72,500+ CPD): The property is situated at the signalized intersection of Warner Avenue and Goldenwest Street, benefiting from more than 72,500 cars per day
- Robust Retail Trade Area: All four corners of the signalized intersection feature retail shopping centers with national tenants including Sprouts Farmers Market, Stater Brothers, Home Depot, Ross Dress for Less, CVS, and more
- Close Proximity to Interstate 405: Just 2.2 miles from Interstate 405, a major freeway with more than 286,500 cars per day
- Dense and Affluent Huntington Beach Demographics
- More than 181,000 residents in a 3-mile trade area with an average household income of over $152,000
- Huntington Beach is known as “Surf City USA” and benefits from over 11 million visitors each year
Listing Contacts
Listed by Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$337,050.00
$28,087.50/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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