7 Years Remaining on Lease with Three Options Through 2029 with Fixed 6% Increases Evert 24 Months

10020 & 10030 Magnolia Avenue, Riverside, CA

Market Price

Price

6.25%

Cap Rate

11,678 sqft

Building Size

Gallery
Street
Map
Overview
Cap Rate
6.25%
Building Size
11,678 sqft
Lot Area
0.78 acres
Lease Type
Absolute Net
Year Built
1951
Roof & Structure
Tenant's Responsibility
Description

Cushman & Wakefield is pleased to present a free-standing Salvation Army located at 10020 & 10030 Magnolia Ave, Riverside, CA 92503. The property was built in 1951 and consists of approximately 11,678 rentable square feet on roughly 0.78 acres of land.

The subject property is subject to an absolute triple-net (NNN) lease that has approximately 6 Years remaining on the lease. The tenant currently pays $182,023 in rent which is scheduled to increase by 6% every 2 years.

About the Investment
• Free-standing Salvation Army with ±7 Years on Lease
• Zero Landlord Obligations - Absolute NNN
• Recently Extended - Salvation Army recently extended its lease to 2029 showing their commitment to the location and the market
• Operating at this site since 1992

About the Location
• Strong Retail Corridor - Carl’s Jr, Target, Macy’s KFC, Yard House, Buffalo Wild Wings, Robbins Brothers, AMC Theaters, Firestone, McDonalds, 99 Cents Only Stores, O’Reilly Auto Parts, Dickies & More
• Two blocks from Galleria at Tyler Shopping Mall
• High Traffic Volume - 27,146+ Vehicles Per Day
• 258,264 people live within five miles of the property
• Average household income with in a five-mile radius is $97,190

Documents
Title
Offering Memorandum
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Location
Gallery