7460 Mission Grove Pky | Riverside, CA 92508
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7460 Mission Grove Pky
Riverside, CA 92508
Retail Property For Sale
Investment Highlights
- Under 12 Year Remaining | Percentage Rent Plus Scheduled Rental Increases | Established Brand
- Affluent Mission Grove Location | Grocery and Fitness Anchored | High Barriers to Entry
- Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibility
- Strong Demographics | Direct Residential/Daytime Consumer Base
Executive Summary
Lee & Associates is pleased to offer to qualified investors an opportunity to purchase the fee-simple interest (land & building) in an absolute NNN, drive-thru equipped, Wienerschnitzel investment property located in Riverside, CA. There is under 12 years of primary lease term remaining with a 10% rental increases every 5-years including the three, 5-year options. Tenant pays a 10 percent rent above base rent. The lease is guaranteed by Wienerschnitzel franchisee. The subject property is located at the southeast corner of Alessandro Blvd (40,000 CPD) and Mission Grove Parkway. The property benefits from a strong day-time population of about 47,000 employees within a 3-mile radius and strong residential customer base of over 212,000 residents with an average household income of $95,945 within a 5-mile radius. Contact Broker For Offering Memorandum.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
1,840 SF
Building Class
C
Year Built
2004
Price
$2,850,000
Price Per SF
$1,549
Cap Rate
4%
NOI
$114,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.64 AC
Zoning
CR - commercial retail
Parking
20 Spaces (10.87 Spaces per 1,000 SF Leased)
Frontage
64 FT on Mission Grove Pky
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 276-370-020 | Improvements Assessment | $632,488 |
| Land Assessment | $746,023 | Total Assessment | $1,378,511 |
PROPERTY TAXES
Parcel Number
276-370-020
Land Assessment
$746,023
Improvements Assessment
$632,488
Total Assessment
$1,378,511
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