6 Years Remaining on Lease with Three Remaining Options Through 2044 with Fixed 10% Increases

10010 Magnolia Avenue, Riverside, CA

$1,980,976

Price

5.75%

Cap Rate

2,911 sqft

Building Size

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Street
Map
Overview
Cap Rate
5.75%
Building Size
2,911 sqft
Lot Area
0.53 acres
Lease Type
Absolute Net
Year Last Renovated
2014
Roof & Structure
Tenant's Responsibility
Lease Expire Year
8/31/2029
Description

Cushman & Wakefield is pleased to present a free-standing Carl’s Jr located at 10010 Magnolia Ave, Riverside, CA 92503. The property was rebuilt to include the new prototype including Green Burrito in 2014 and consists of approximately 2,911 rentable square feet on roughly 0.53 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 $113,906 in rent which is scheduled to increase by 12.5% in 2024 and 10% every 5 years throughout the remaining four, five-year tenant renewal option periods.

ABOUT THE INVESTMENT
• Approximately 6 Years Remaining on the Triple-Net (NNN) Lease
• Three, Five (5) Year Tenant Renewal Options at Fixed 10% Increases
• Operating at this site since 1970’s

ABOUT THE LOCATION
• Nearby Retailers include The Salvation Army, 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
• Less than four miles from Providence Medical Center (349-beds)
• Strong Traffic Counts | 15,721+ Vehicles Per Day

Documents
Title
Offering Memorandum
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Location
Gallery