78621 CA-111 Hwy - Fast Food FOR SALE


La Quinta, CA 92253
$3,450,000 USD
323-377-4082
78621 CA-111 Hwy, La Quinta, CA for Sale
$3,450,000 USD
Fast Food - FOR SALE
1/14
null | 4.15% Cap Rate

78621 CA-111 Hwy
La Quinta, CA 92253


HIGHLIGHTS

  • El Pollo Loco with Drive-Thru | Absolute NNN Corporate Ground Lease; 13 years remaining, two 5-year options | 10% increases every 5 years
  • T- Mobile Monopalm Cell Tower Site Lease | Long Term Tenant since 1996 | 6+ years remaining, four 5-year options | 15% increases every 5 years
  • Prime retail location; within Washington Park shopping center, a 600,000 sq. ft. major power center anchored by Target, Lowes, Trader Joe's and more
  • Strong Retail, High Traffic Corridor | Located on HWY 111, City's primary retail corridor & near heaviest intersection with traffic count of 90k+ CPD
  • Dense, Affluent, High Growth Area; over 187,000 population within 5 miles radius with an average household income in excess of $120k within 1 mile
  • La Quinta is 1 of 9 cities in Coachella Valley; a popular tourist destination with 14.4 million annual visitors & approx. 500,000 in population

OVERVIEW

This Offering presents prospective purchasers with the opportunity to acquire a two tenant corporate lease Investment with strong corporate guarantees; El Pollo Loco absolute NNN ground lease and a T-Mobile Mono-palm cell tower site lease. El pollo loco has approximately 13 years remaining on the initial term, 10% rental increases every 5 years with the next increase in April 1, 2028. The lease also includes two, 5-year renewal options. T-Mobile, a long term tenant since 1996, has approx. 6+ years remaining with four - 5-year options and attractive 15% increase every 5 years. The Subject Property is well situated in a prime retail location; along HWY 111, the area's primary retail and traffic corridor, near the the signalizes intersection of HWY 111 and Washington St. with a combine traffic count of 90,000+ CPD and within Washington Park shopping center, a 600,000 sq. ft. major power center anchored by Target, Lowe's, Trader Joe's, TJ Maxx, Ulta, Cost Plus World Market, and many more. La Quinta is an affluent, high growth city with over 187,000 population and an average household income in excess of $103,000 within a 5 mile radius. It is one of the nine cities in Riverside's County, Coachella Valley; a popular tourist destination with 14.4 million annual visitors and a significant population growth to approximately 500,000. With annual rental increases and an absolute NNN ground lease with zero landlord responsibilities, this asset is the perfect offering for an investor seeking a long -term and fully passive investment.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$1,205 USD /SF

CAP RATE

4.15%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

El Pollo Loco Abs NNN Ground Lease + T-Mobile

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Washington St.

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

Regional Commercial

APN/PARCEL ID

643-220-028

ASK ABOUT THIS PROPERTY

Bria YikReal Estates UnlimitedMore Info
323-377-4082

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Bria YikReal Estates UnlimitedMore Info
323-377-4082

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.