Low Risk 1031 Exchange Property! 810-822 S San Fernando Blvd

Kidder Mathews is pleased to present, For Sale, an ideal generational 1031 tax exchange opportunity in Burbank, The media capital of the World! This 14,295 SF stand-alone retail store on a 29,045 SF lot spans over approximately 3/4 of a block. This property is set up with a stable low risk long-term NNN credit tenant, and a 3.6% 15-year fixed assumable loan. The loan is amortized over 15 years, in its current term, the balance would be paid off in less than 11 years. (Loan amount represents approximately 35% LTV). The property sits in a choice Burbank corridor across the street from The Burbank Ikea store entrance (Largest in N. America), The Tesla gallery dealership. And it is accompanied, within blocks, by: Ralphs, CVS, Starbucks, The Habit, Walgreens, Trader Joes, CarMax, Chevron, Home Depot, the Interstate 5 Freeway, and less than a mile from the Burbank Town Center shopping mall that features over 100 retail shops. Its densely populated family oriented location is perfect for a convenient family tool and equipment store.
TENANT: HARBOR FREIGHT TOOLS is a privately held tool and equipment retailer headquartered in Calabasas, CA. They operate over 1,500 Locations in 48 states with approximately $6.5 Billion Dollars in annual revenue.
LEASE: The Tenant is in their 6th year of a 15 year term, with 4 (5 year) options to renew. The Tenant is responsible for all the maintenance and repairs except for roof and structure, and the rent increases 10% every 5 years.