NEC I-215 And Clinton Keith Road - Freestanding FOR SALE


Murrieta, CA 92562
$3,733,000 USD
949-698-1105
NEC I-215 And Clinton Keith Road, Murrieta, CA for Sale
$3,733,000 USD
Freestanding - FOR SALE
1/10
null | 5.15% Cap Rate

NEC I-215 And Clinton Keith Road
Murrieta, CA 92562


HIGHLIGHTS

  • Brand New 20-Year Lease | Corporate Guaranty - 425 Unit Operator | Scheduled Rental Increases
  • The Vineyard Shopping Center | Dense Retail Corridor | Nearby Developments
  • Located Along Clinton Keith Road | Centralized Location | Highly Visible | Brand New Construction
  • NNN | Fee Simple Ownership | Limited Landlord Responsibilities
  • Direct Residential Consumer Base | Six-Figure Incomes | Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, corporate signed, freestanding, Ramona Tire & Service Center investment property located in Murrieta, California (Los Angeles MSA). The tenant, Ramona Auto Services, Inc. (Corporate: Sun Auto - 425 Units), recently signed a brand new 20 year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 15% rental increase every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The building, which is slated to open in Q2 of 2024, will feature a state-of-the-art design using high quality materials. The lease is corporate guaranteed by Sun Auto a 425 unit operator. Ramona Tire & Service Center is located along Clinton Keith Road with clear visibility and access to 27,000+ vehicles passing by daily. The asset benefits from direct on/off ramp access to Interstate 215 (110,000 VPD), a major thoroughfare connecting the Los Angeles MSA, making this an ideal, centralized location with easy commutes for both employees and customers. The subject property is ideally situated within The Vineyard Shopping Center, a newly built, 26.3-acre regional shopping center anchored by Costco Wholesale and ALDI. Other nearby national/credit tenants include Target, Tractor Supply Co., Starbucks, Marshalls, Albertsons, Stater Bros, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Additionally, the asset is strategically positioned within an expanding retail corridor with numerous plans for development including a 522 single-family residential project in Murrieta Hills, a 210-unit apartment complex near I-15, a 56,060 SF commercial and retail center 3-miles southeast of the site, and more. Furthermore, the property is within walking distance to several single-family communities and multi-family complexes including Sonoma at Mapleton (193 units), Mitchell Place (230 units), Pacific Landing (325 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 208,500 residents and 46,900 daytime employees. Residents within one mile of the subject property boast an affluent annual average household income of $131,546.

FOR SALE DETAILS

PRICE

$3,733,000 USD

PRICE/SF

$734 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ramona Tire

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

RC

APN/PARCEL ID

392-270-063

ASK ABOUT THIS PROPERTY

Winston GuestSRS National Net LeaseMore Info
949-698-1105

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Winston GuestSRS National Net LeaseMore Info
949-698-1105

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