9444 Trask Ave - Auto Dealership FOR SALE


Garden Grove, CA 92844
$55,172,000 USD
310-550-2672
9444 Trask Ave, Garden Grove, CA for Sale
$55,172,000 USD
Auto Dealership - FOR SALE
1/7
null | 5.4% Cap Rate

9444 Trask Ave
Garden Grove, CA 92844


HIGHLIGHTS

  • Absolute NNN Lease – 100% Absolute NNN leased to NOARUS Auto Group (NOARUS TGG, a California corporation)
  • Strong Lease Guarantee – The lease is guaranteed by six different entities required to maintain a Tangible Net Worth of not less than $6,000,000
  • Protected by Strict Franchising Regulations

OVERVIEW

* Absolute NNN Lease – 100% Absolute NNN leased to NOARUS Auto Group (NOARUS TGG, a California corporation) *NOARUS Auto Group was founded in 1986 and owns and operates Toyota Place of Garden Grove, Marina del Rey Toyota, Airport Marina Ford, and Airport Marina Honda. NOARUS Auto Group has owned and operated the Toyota Place franchise for 42 years and has operated at this location for 37 years *Strong Lease Guarantee – The lease is guaranteed by six different entities required to maintain a Tangible Net Worth of not less than $6,000,000 and maintain a Debt Service Coverage Ratio of 1.25x, creating a strong safety net to the landlord *Extremely Secure Income Stream – Toyota Place of Garden Grove currently has ±11.3 years of remaining lease term with CPI increases every 3 years (min. 3% - max. 9%) providing a strong hedge against inflation *Protected by Strict Franchising Regulations – As part of Toyota’s standard franchising agreement, no new operation may open within the same city as a current dealership or within 10 miles from any Toyota location (11 locations within Orange County). This both restricts competition and reduces the number of Toyota locations serving the surrounding ±3,135,755 Orange County residents while at the same time limiting available sites for relocation *Highly Desirable Location – Toyota Place is situated on ±7.00 acres, centrally located immediately off the Garden Grove Freeway (State Route 22) (±205,000 CPD) in the heart of Orange County, and proximate to Disneyland (17.25 million visitors in 2023), making the site easily accessible to the surrounding 283,321 residents (AHI: $111,290) in a 3-mile radius and remainder of Orange County

FOR SALE DETAILS

PRICE

$55,172,000 USD

PRICE/SF

$688 USD /SF

CAP RATE

5.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

342

LAND DETAILS

LAND ACRES

7 AC

LAND SF

304,920 SF

ZONING

PUD-130-82

APN/PARCEL ID

098-090-49,098-090-63,098-090-64

ASK ABOUT THIS PROPERTY

310-550-2672

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

310-550-2672

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