Listed by SRS Real Estate Partners Newport Beach
$10,887,000
545 W. Terrace Drive | Single Tenant Industrial NNN
Details
APN 8382-001-051
Property Type Industrial
Sub Type Warehouse
Square Footage 32,498
Cap Rate 6%
NOI $653,210
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 01/31/2030
Remaining Term 3.5
Rent Bumps Yes
Price per SqFt $335
Year Built 1973
Year Renovated 2016
Buildings 1
Acreage 1.380
Zoning Light Manufacturing (M-1)
Parking Spaces 67 spaces
Parking per 1,000 SqFt 2.06
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/01/2020
Ground Lease No
Ceiling Height 20'
Loading Docks 2
Dock High Doors 2
Ownership Fee Simple (Land & Building Ownership)
Industrial | 6.00% CAP | 32,498 SqFt
Investment highlights
- Wavestream Corporation fully occupies the subject property. The lease is guaranteed by Gilat Satellite Networks (NASDAQ: GILT). The tenant recently exercised their option to extend the lease through 2030.
- The tenant has invested over $1 million in an extensive TI build-out at the subject property, establishing it as their US West Coast headquarters. With 3 years remaining and no outstanding options, the opportunity provides the future owner with upside through lease re-negotiation at market rents, as the tenant is currently paying below-market rents in Los Angeles County.
- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- Minimal landlord responsibilities limited to Foundation and Structural Condition
- The subject property is located in the desirable San Gabriel Valley Submarket with high demand for Industrial sites
- Quick access to SR-57 (147,500 VPD), I-210 (221,500 VPD), and the Ontario International Airport
- More than 308,000 residents and 112,000 employees support the trade area
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$653,210.00
$54,434.17/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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