Corona, CA - Wienerschnitzel

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Wienerschnitzel investment property located in Corona, California. The tenant, Wienerschnitzel recently signed a brand new 25-year lease, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Wienerschnitzel is located along Temescal Canyon Road (13,600 VPD), near the signalized intersection of Cajalco Road and Temescal Canyon Road, with strong combined traffic counts and immediate access to Interstate 15 (169,000 VPD), one of Southern California’s primary freeway corridors. Cajalco Road (28,865 VPD) and Temescal Canyon Road serve as major retail thoroughfares for the city of Corona within the Inland Empire. The Wienerschnitzel is positioned directly across from the Crossings at Corona, a dominant Target-anchored regional power center that ranks in the top 2% of shopping centers nationwide with approximately 8.5 million annual visitors (per Placer.ai) and features national/credit tenants including Marshalls, Kohl’s, Ross, HomeGoods, Burlington, Michaels, Petco, Old Navy, Ulta, Best Buy, and Barnes & Noble. The property shares its development with a Tommy’s Express Car Wash, driving complementary, recurring customer visits to the site. The asset sits in the center of a primary retail corridor with other nearby national/credit tenants including Chick-fil-A, Taco Bell, Popeyes, In-N-Out, Circle K, Crumbl, Starbucks, Stater Bros., Walmart Supercenter, Home Depot, and Sam’s Club, further increasing consumer traffic to the site. The trade area is also anchored by Santiago High School (3,612 students) and El Cerrito Middle School (1,218 students), along with multiple master-planned residential communities. The 5-mile trade area is supported by a population of over 137,000 with an average household income exceeding $145,000 (and over $172,000 within 3 miles).

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Listing ID: a28TP000002pG4nYAE