The Habit Burger Grill

870 North Main Street, Corona, CA 92878

$4,187,000

Cap Rate 4.35%

Views: 58 DOM: 63 Updated: 09.04.24 Posted: 07.15.24 Status: Active

Summary

Price $4,187,000	Built/Renov 2022	Tenant The Habit Burger Grill
Cap Rate 4.35%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,650	Lease Start 11-13-2021	#Units 378
Price/SF $1,580.00	Expiration 11-30-2041	Tenant Type Fast Casual/Rest.
NOI $182,148	R. Term 17.2	Ownership Fee Simple
Rent/SF $68.74	Increases 10.0%/2/yrs	Pop 5Mi 266,698
Lot/AC 0.57	Options 2/5yrs/10%	AHHI 5Mi $130,246

Lease Highlights

New 2022 construction
The Habit Burger Grill has 17+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 10% rental increases every 5 years | Next increase will occur in 2026
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

The Habit Burger Grill is strategically located on North Main Street, with access to 29,300 vehicles passing by daily. The property is situated minutes away from major California freeways and adjacent to Orange County, California. Positioned in the heart of a dense retail trade area, it is surrounded by numerous shopping centers, including North Main Plaza, Gateway Town Center, and Corona...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

The Habit Burger Grill Wikipedia The Habit Burger Grill Wikipedia Corona, California Zip Code 92878 Broker Site Page Drone Video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: The Habit Burger Grill
Guarantor:Corp T and Rated
Company:Yum! Brands, Inc.
# Units:378
Tenant S&P: BB+
Moody’s: Ba2
Stock: NYSE: YUM

About Tenant

The Habit Restaurants Inc. is a burger-centric, fast-casual restaurant concept. It specializes in preparing fresh, made-to-order char-grilled burgers and sandwiches featuring USDA choice tri-tip...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	12,605	116,809	271,441
2023 Total Population :	12,405	115,592	268,713
2023 Employed Civilian Pop :	6,368	55,271	131,881
2023 Total Businesses :	1,106	6,209	9,892
2023 Average Household Income :	$ 97,650	$ 109,447	$ 130,548
2023 Total Consumer Spending :	$ 353 M	$ 3227 M	$ 8697 M
2023 Median Age :	34	34	34
2023 Total Households :	4,223	34,333	78,362
2023 Pop Age 25+: Bachelor's Degree :	1,650	12,159	36,382
2023 Average Home Value :	$ 520,456	$ 567,030	$ 602,563

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Main St	Cota St	2007	29,200	0.06 mi
W Parkridge Ave	N Main St	2009	8,300	0.09 mi
Hamner Ave	N Main St	2007	29,300	0.11 mi
E Parkridge Ave	Corona Ave	2007	12,400	0.23 mi
Yuma Dr	Hamner Ave	2008	28,000	0.23 mi
Mountain Ave	1st St	2006	8,150	0.26 mi
N Main St	W Parkridge Ave	2007	22,900	0.32 mi
Hidden Valley Parkway		2021	141,500	0.32 mi
River Rd	Headwater Rd	2008	8,800	0.34 mi
Corona Ave	Gilmore Dr	2009	2,800	0.37 mi

Listing Broker

David McNevin

CBRE: NLPG Newport

Contact

7 Listings
491 Views
0 Sold

Ian Schroeder

CBRE: NLPG Newport

Contact

18 Listings
1865 Views
0 Sold

David McNevin

David McNevin is an Associate for CBRE’s Net Lease Property Group in Newport Beach, California. The team specializes in the acquisition and disposition of single tenant net leased retail assets. David assists the team in outreach of new business development opportunities within the private client, merchant developer, and institutional space. David is passionate about the needs and goals of his client’s portfolios, delivering exceptional work ethic and attention to detail throughout the sales

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Ian Schroeder

Ian Schroeder joined CBRE in July 2013 as Senior Vice President, specializing in the sale and disposition of NNN single-tenant properties and arranging sale leaseback transactions throughout the United States. Schroeder's expertise includes working with a wide spectrum of major national real estate developers, institutions and private clients in the disposition of their real estate assets. He maintains intimate knowledge of national market trends and valuations, and is a highly-skilled negotiat

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Melissa Ley Marshall

CBRE: NLPG Newport

Contact

18 Listings
1865 Views
0 Sold

Melissa Ley Marshall

Melissa Ley Marshall is First Vice President and Partner of CBRE’s Net Lease Property Group in Newport Beach, California. She specializes in the acquisition and disposition of NNN single-tenant retail properties throughout the United States and has closed $1 Billion in investment volume throughout her career. Melissa manages the entire sales process, from underwriting and valuation to offer negotiations, working relentlessly to deliver best results for her private and institutional clients.

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