7055 N Palm Ave
Fresno, CA 93650

CBRE is pleased to exclusively offer a 69,060 square foot Mercedes-Benz automotive dealership on 5.31 acres in Fresno, California (MSA Population: 979,915). Mercedes' absolute NNN lease has 15.5 years of primary term and two 10-year options remaining. The lease features attractive rent increases every three years by 50% of CPI with a minimum increase of 3% and a maximum increase of 9% at each increase. The next rent increase is on 4/1/2020. In addition, the dealership has an excellent performance history with exceptional revenues (available upon request). Furthermore, the lease has certain financial covenants including a required rent coverage ratio, debt service coverage ratio and Debt to EBITDA ratio, ensuring that the Landlord enjoys complete transparency in the performance of the dealership throughout the lease term. The property is ideally located within a strong retail and automotive corridor at the signalized intersection of North Palm Avenue and Herndon Avenue (Combined Traffic Count: 97,049 VPD). Other retailers in the immediate vicinity include Walmart Supercenter, Target, Macy' s, Lowe' s Home Improvement, Nordstrom Rack, Michaels, Marshalls, Best Buy, Sprouts, Sam' s Club, Home Depot, Costco and CVS among many others. In all, there is 11.7 MSF of retail, 10.0 MSF of office and 9,656 multi-family units within a 3-mile radius. Neighboring automotive dealerships include BMW, Audi, Lexus, Infiniti and Carmax.