Listed by Newmark | Los Angeles - Century City, Newmark
$4,500,000
3480 Florence Ave
Details
APN 6213-003-027
Property Type Retail
Sub Type Commercial
Square Footage 1,771
Cap Rate 5.00%
NOI $225,000
Tenancy Single
Lease Type NNN
Lease Term 15
Lot Size (SqFt) 18,370
Lease Commencement 10/31/2024
Retail | 5.00% CAP | 1,771 SqFt
Marketing description
Newmark is pleased to present the opportunity to acquire 3480 E Florence Avenue, Huntington Park CA 90255 (hereafter the “Property”, “Project”). The property is a brand new single tenant NNN ground lease investment, corporate guaranteed lease to Starbucks, an approximately 1,771 SF building on approximately 18,370 SF of land. The property is located at signalized intersection at the southwest corner of E Florence Avenue and California Avenue. The building at the property is brand new construction with a drive through lane.
The property is well located in the City of Huntington Park, on the major commercial thoroughfare of Florence Avenue, just east off the main retail district of Pacific Avenue and just west of the Long Beach (710) Freeway. Across the street from the property is Salt Lake Park which is currently being refurbished with a new pool, gym and football field. At the intersection of Florence Avenue and Salt Lake Avenue, will be a station of the proposed LA Metro Southeast Gateway light rail line that will connect to Downtown Los Angeles and run all the
way to Cerritos. Nearby are other national retailers such as In N Out, Harbor Freight, Home Depot, Planet Fitness, Wendy’s, KFC, and Jack In The Box. Starbucks just signed a brand new 15 year corporate guaranteed lease, which provides a high quality and stable investment for a new investor.
3480 E Florence Avenue is comprised of an approximately 1,771 SF building on approximately 18,370 SF of land. The property is a newly constructed freestanding Starbucks building with drive through, scheduled to be completed November 2024. Located on the main commercial thoroughfare of Florence Avenue, the street boasts an ample traffic count and is nearby to other national retails such as In N Out, Harbor Freight, Home Depot, Planet Fitness, Wendy’s, KFC, and Jack In The Box. The proposed LA Metro Southeast Gateway light rail line is planning to have a station across the street from the property at the corner of Salt Lake Avenue, which is in the final stages of approvals with the Federal Transportation Administration.
Starbucks just signed a brand new 15 year NNN lease with a corporate guaranty. With a long term NNN lease, four (4) five (5) year options to extend, and 10% rental increases every 5 years, this investment provides a stable return with a high credit restaurant operator and very low management for the owner. The proposed Metro line and continued growth in this portion of the Los Angeles makes Huntington Park a desirable sub-market for investment.
Investment highlights
- Opportunity to depreciate the building.
- Corporate lease guaranteed by Starbucks.
- Building is new construction with drive through lane.
- Brand new long NNN Lease with 15 years and four (4) five (5) year options.
- Rent increases of 10% every 5 years providing stable growth.
- Tenant pays for all utilities, property taxes, and property insurance. Tenant responsible for maintenance/repair to premises, and common area maintenance.
- Landlord is responsible for maintenance/repair of roof, walls, foundation, and structure.
- Across the street from the proposed LA Metro Southeast Gateway light rail line that will connect to Downtown Los Angeles and run all the way to Cerritos.
- Nearby are other national retailers such as In N Out, Harbor Freight, Home Depot, Planet Fitness, Wendy’s, KFC, and Jack In The Box.
- Located at signalized intersection at the southwest corner of E Florence Avenue
- and California Avenue.
- Florence Avenue traffic count approximately 35,000 cars per day.
- California Avenue traffic count approximately 13,000 cars per day.
- Located just east of the major retail district of Pacific Avenue, which spans several blocks in the heart of Huntington Park.
- Across the street from the station of the proposed LA Metro
- Southeast Gateway light rail line that will connect to Downtown Los
- Angeles and run all the way to Cerritos.
- Across the street from the property is Huntington Park Municipal Park, which includes multiple sports fields and ample park area.
- Property is surrounded by single family residential neighborhoods.
Listing Contacts
Listed by Newmark | Los Angeles - Century City, Newmark
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$225,000.00
$18,750.00/mo
Valuation Metrics
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DSCR
5%
Cap Rate
5%
ROI
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Zoning
CG CommercialGeneral CommercialCommercial General
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