For Sale
$6,810,000

860 Main StCorona, CA 92878

High-yield QSR & Taquitos, NNN lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents two thriving, complementary businesses in a prime Corona, CA location: The Habit Burger Grill and Roll-Em-Up Taquitos. Both are situated within the new, Class-A Parkridge Plaza retail center, built in 2022, on a combined 1.11-acre lot (APN: 122-061-012, 122-061-010). The total square footage is 5,183, offering a strong NOI of $313,306 and a compelling 4.60% cap rate at an asking price of $6,810,000. The Habit Burger Grill boasts a 20-year lease (17.6 years remaining plus options), with corporate guarantee, and includes a drive-thru. The adjacent Roll-Em-Up Taquitos features an 8-year lease (plus options) with personal guarantees from high-net-worth individuals. Both leases are Triple Net (NNN). This property benefits from a robust local population (116,264 within 3 miles, 266,698 within 5 miles) and high daily traffic counts (41,700 cars). Its strategic location near major freeways (91 and 15) and numerous shopping centers (North Main Plaza, Gateway Town Center, Corona Hills Plaza) provides excellent visibility and accessibility. Nearby national retailers include Target, Walgreens, Costco, and many more. The presence of several large apartment complexes ensures a consistent customer base. The Inland Empire's strong economy, driven by manufacturing, distribution, and logistics, further enhances the long-term investment potential of this property. The Habit Burger Grill's drive-thru also benefits from an easement on a portion of the adjacent Roll-Em-Up Taquitos parcel.

Highlights

  • Investment opportunity offering two NNN-leased properties, The Habit Burger Grill and Roll-Em-Up Taquitos, available individually or together.
  • Habit Burger features a 17.6-year remaining lease (20-year term, plus two 5-year options) with corporate guarantee. Roll-Em-Up Taquitos has an 8-year remaining lease (plus two 5-year options) with personal guarantees from high-net-worth individuals.
  • Both properties are part of the newly constructed (2022) Class-A Parkridge Plaza retail center. Habit Burger includes a drive-thru; Roll-Em-Up Taquitos' adjacent parcel drive-thru is exclusively for Habit Burger use via easement.
  • Strong demographics: 116,264 residents within 3 miles, 266,698 within 5 miles. High daily traffic counts (41,700 vehicles) at the intersection of N. Main St. and W. Parkridge Ave.
  • Excellent location in Corona, Inland Empire, near the 91 (246,500 CPD) and 15 freeways (158,000 CPD), and adjacent to Orange County. Surrounded by major retail centers and national retailers including Target, Walmart, and Costco.
  • High density of nearby luxury apartments (Artisan at Main Street Metro, One11, Metro at Main) providing a substantial customer base.

Property Details for 860 Main St

Property type
Retail properties, Restaurants
Square Feet
5,183 SF
Year Built
2022
Lot Size (sq. ft)
48,352 SF

Location Insight

City
Corona
County
Riverside
State
California
Latitude
33.8951017
Longitude
-117.5637115
860 Main St, Corona, California

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860 Main St
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