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Del Taco 1098 Enchanted Way

2,495 SF Retail Building Simi Valley, CA 93065 $3,200,000 ($1,283/SF) 3.75% Cap Rate

Retail Space California Simi Valley 1098 Enchanted Way, Simi Valley, CA 93065

Investment Highlights

  • SW Hard Corner - Del Taco Fast Food Drive-Thru ground lease for sale
  • Located adjacent to the Simi Town Center (600,000 sf of retail space)
  • Rare opportunity to acquire a passive net lease investment
  • Located at the gateway to the Auto Center Row (118 Fwy & First St)
  • Located adjacent to 5,000,000+ sf of industrial/office space
  • Zero landlord responsibilities

Executive Summary

Well-seasoned ground lease with 5 years remaining on the initial 20 year term and 3 five-year options to extend. 15% rent increase due 1/2028 with 10% increases every 5 years thereafter. Absolute NNN ground lease. Operated and personally guaranteed by a strong 32 unit Franchisee (9 Del Tacos and 23 Papa Johns). This location has the highest income of the 4 Del Taco locations in Simi Valley.

Attachments

1098 Enchanted Way

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,495 SF
Building Class
B
Year Built
2008
Price
$3,200,000
Price Per SF
$1,283
Cap Rate
3.75%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.69 AC
Zoning
CO-SP
Parking
25 Spaces (10.02 Spaces per 1,000 SF Leased)
Frontage
450 FT on Enchanted Way

Amenities

  • Freeway Visibility
  • Pylon Sign
  • Signage
  • Signalized Intersection
  • Drive Thru
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1098 Enchanted Way, Simi Valley, CA - aerial map view

Nearby Major Retailers

Vallarta Supermarkets
Corner Bakery Cafe
Red Robin
Buffalo Wild Wings
Starbucks
ALDI
Black Bear Diner
Bank of America
U.S. Bank
Gold's Gym

PROPERTY TAXES

Parcel Number 612-0-260-015 Improvements Assessment $990,279
Land Assessment $302,753 Total Assessment $1,293,032

PROPERTY TAXES

Parcel Number
612-0-260-015
Land Assessment
$302,753
Improvements Assessment
$990,279
Total Assessment
$1,293,032
(805) 558-0499

Contact

  • Listing ID: 33773195

  • Date on Market: 11/6/2024

  • Last Updated:

  • Address: 1098 Enchanted Way, Simi Valley, CA 93065

More public record information on 1098 Enchanted Way, Simi Valley, CA 93065

The Retail Property at 1098 Enchanted Way, Simi Valley, CA 93065 is currently available for sale. Contact NAI Capital Commercial, Inc. for more information.

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Del Taco | 1098 Enchanted Way
(805) 558-0499 x

Del Taco | 1098 Enchanted Way

Gary Seaton

(805) 558-0499

(805) 558-0499

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