For Sale
$1,736,842

1251 Sanderson AveHemet, CA 92545

Prime QSR location, strong tenant, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 3,000 square foot, single-tenant, absolute NNN ground lease property occupied by Dave's Hot Chicken. Located at 1251 S Sanderson Ave, Hemet, CA 92545, this 2023-built building sits on a 47,605 square foot lot and boasts a 20-year lease commencing March 6, 2023, and expiring February 28, 2043, with three five-year renewal options. The lease includes a 10% rent increase every five years, ensuring consistent income growth. The property benefits from a prime location in a high-traffic retail corridor exceeding 20,000 vehicles daily, offering excellent visibility and accessibility. It's situated as an outparcel to a Walmart-anchored Page Plaza shopping center, providing a strong national tenant presence and drawing from a robust demographic base within a 5-mile radius. The property's Net Operating Income (NOI) is $82,500, resulting in a 4.75% cap rate and a price per square foot of $578.95. The land value is $36.48 per square foot. This rapidly growing area features significant industrial, retail, and housing developments, promising continued appreciation. The property's APN is 460-250-016. This is a rare opportunity to acquire a long-term, stable, high-return investment in a thriving market.

Highlights

  • $1,736,842 asking price for a 3,000 square foot, single-tenant, absolute NNN ground lease property.
  • 20-year lease to Dave's Hot Chicken, commencing March 6, 2023, with three 5-year options and 10% rent bumps every 5 years.
  • Located in a high-traffic retail corridor in Hemet, CA, exceeding 20,000 vehicles daily, with excellent visibility and accessibility.
  • Outparcel to a Walmart-anchored shopping center, offering strong tenant presence and demographics.
  • Situated in a rapidly growing area with substantial industrial, retail, and housing development.

Property Details for 1251 Sanderson Ave

Property type
Retail properties
Square Feet
3,000 SF
Year Built
2023
Buildings
1
Stories
1
Units
1

Location Insight

City
Hemet
County
Riverside
State
California
Latitude
33.725868591825
Longitude
-117.0075029177
1251 Sanderson Ave, Hemet, California

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1251 Sanderson Ave
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