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Views: 125 DOM: 257 Updated: 10.09.24 Posted: 04.14.24 Status: Active

Summary

Price $4,048,000
Built/Renov 2024
Tenant Ramona Tire & Service Center
Cap Rate 4.75%
Lease Type NN+
Guarantor Corporate
Size/SF 5,084
Lease Start 06-20-2024
#Units 17
Price/SF $796.22
Expiration 06-30-2044
Tenant Type Automotive
NOI $192,271
R. Term 19.6
Ownership Fee Simple
Rent/SF $37.82
Increases 15.0%/5/yrs
Pop 5Mi 209,862
Lot/AC 0.80
Options 2/5yrs/15%
AHHI 5Mi $138,450

Lease Highlights

  • Brand new 2024 construction
  • Brand new 20-year lease with 2 (5-year) options to extend
  • The lease features 15% rental increases every 5 years throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Ramona Tire & Service Center is strategically located on Clinton Keith Road, with access to 27,000 vehicles passing by daily. This prime positioning offers direct on/off ramp access to Interstate 215, a major thoroughfare with a robust traffic count of 110,000 VPD. Furthermore, the property is situated within The Vineyard Shopping Center, a newly developed regional retail hub anchored by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Ramona Tire & Service Centers is a chain of automotive service centers providing everything from tires and oil changes to transmission repairs and engine diagnostics. The company also offers brake...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,258 79,475 216,088
2023 Total Population : 9,967 78,791 209,595
2023 Employed Civilian Pop : 5,092 35,360 96,414
2023 Total Businesses : 236 1,863 6,307
2023 Average Household Income : $ 158,038 $ 132,445 $ 138,276
2023 Total Consumer Spending : $ 408 M $ 2832 M $ 7580 M
2023 Median Age : 33 35 35
2023 Total Households : 3,071 25,138 64,515
2023 Pop Age 25+: Bachelor's Degree : 1,723 11,394 31,701
2023 Average Home Value : $ 629,452 $ 578,951 $ 594,581
*ESRI data is presented for informational purposes only

Listing Broker

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