For Sale
$3,304,348

4702 Riverside DrChino, CA 91710

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple owned, 1,134 square foot United Pacific gas station and convenience store in Chino, CA. Located at 4702 Riverside Dr, 91710, this property boasts a 9.6-year remaining lease term (expiring 06/29/2034) with a strong, creditworthy tenant, United Pacific, a joint venture between subsidiaries of Phillips 66 and Fortress Investment Group, LLC. The absolute NNN lease includes a 7.50% rent increase in July 2029 and in each of three 5-year options, ensuring consistent income growth. The property features four gas pumps, seven parking spaces, and sits on a 0.37-acre lot. Built in 1991, this well-maintained property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $190,000, representing a 5.75% cap rate on the $3,304,348 asking price. Benefiting from its location within a high-traffic area, this property offers significant long-term value and potential for appreciation. The property's strong tenant, established location, and lease terms make it an attractive investment for discerning buyers. The site is well-positioned within three major California markets (Los Angeles, Riverside & San Diego) with close proximity to several interstate and highway systems. The property serves a community with an average population of 222,536 and average household income of $103,841 within a 3-mile radius. The offering includes the potential benefits of bonus depreciation.

Highlights

  • $3,304,348 asking price for this Net Lease retail property.
  • Absolute NNN lease with United Pacific, a subsidiary of Phillips 66 and Fortress Investment Group, LLC, through 6/29/2034 (9.6 years remaining).
  • 1,134 square feet on a 0.37-acre lot with 7 parking spaces and 4 gas pumps.
  • 5.75% cap rate with a $190,000 NOI and 100% occupancy.
  • 7.5% rent increase in July 2029 and in each of three 5-year lease options.
  • Built in 1991, located at 4702 Riverside Dr, Chino, CA 91710.

Property Details for 4702 Riverside Dr

Property type
Retail properties, Grocery and convenience stores
Square Feet
1,134 SF
Year Built
1991
Lot Size (sq. ft)
16,117 SF

Location Insight

City
Chino
County
San Bernardino
State
California
Latitude
34.0192499
Longitude
-117.7021493
4702 Riverside Dr, Chino, California

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4702 Riverside Dr
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