Miguel's Jr Homestyle Mexican Foods
$2,585,000
13382 Limonite Avenue, Corona, CA 92880
2,932 sqft
Building Size
0.69 acres
Lot Area
Details:
Highlights:
- Purchase Price $2,585,000
- Cap Rate 4.89%
- Commencement Date October 1, 2018
- Lease Expiration September 30, 2038
- Extension Options Four (4) extension options of five (5) years each
- In-Place NOI $126,500
- Rental Escalations 10% every 5 years
- Lease Type Absolute NNN – zero landlord responsibilities
- Ownership Leased Fee Interest
- Building SF ±2,932 SF
- Lot Size ±0.69 AC (±30,056 SF)
Description:
Lee & Associates – Orange is pleased to present the opportunity to acquire a single-tenant absolute NNN ground lease investment occupied by Miguel’s Jr. Homestyle Mexican Foods, a drive-through restaurant, in Eastvale, California. The property consists of a 2,932-square-foot freestanding restaurant building situated on a 30,056-square-foot pad site with 22 dedicated parking spaces. Strategically positioned within a high-traffic neighborhood shopping center anchored by Smart & Final, the property benefits from strong consumer traffic and excellent visibility. The center is further supported by a complementary tenant mix that includes nationally recognized brands such as El Pollo Loco and Dutch Bros. Miguel’s Jr. operates under a long-term absolute net ground lease with more than 12 years of remaining lease term, providing investors with stable, passive income and zero landlord responsibilities. The lease includes four (4) additional five-year extension options, offering potential occupancy through 2058 and creating a durable long-term investment opportunity. Located in one of the Inland Empire’s fastest-growing communities, this offering combines the security of an established restaurant operator, the benefits of an absolute NNN ground lease structure, and the strength of a highly trafficked retail location within a growing trade area.
Freestanding drive-through restaurant on Limonite Avenue in Eastvale within a high-traffic neighborhood shopping center anchored by Smart & Final and supported by national retailers.
Documents:
| Title | ||
|---|---|---|
| 13382_Limonite_Ave__Miguel_s_JR__Offering_Memorandum.pdf |
Location
Gallery
