For Sale
$3,240,000

11400 Garvey AveEl Monte, CA 91732

El Monte, CA: Net lease auto shop investment.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a single-tenant, net-leased auto shop in El Monte, California. The property, located at 11400 Garvey Ave, boasts 1,170 square feet on a 0.51-acre lot and is currently 100% occupied by an established car dealership under a three-year NNN lease. The asking price is $3,240,000, representing a 5.00% cap rate with a current NOI of $162,000. The building, constructed in 1997, sits on a hard corner lot at the intersection of Garvey Ave and Dee Ave, benefiting from high visibility and traffic counts exceeding 45,161 vehicles daily. The property's M/Mu zoning allows for potential future redevelopment into a residential project upon lease expiration. The lease includes annual rent increases of 3%, ensuring a growing income stream. The property's location within the densely populated San Gabriel Valley offers strong demographics, with over 197,943 residents within a three-mile radius and an average household income exceeding $97,936. This presents a compelling opportunity for investors seeking a low-management, high-return investment with significant long-term potential. The NNN lease structure ensures minimal owner responsibilities, making this an ideal 1031 exchange candidate. The property's location and zoning create high barriers to entry for future competition.

Highlights

  • Ideal 1031 exchange opportunity: Prime San Gabriel Valley single-tenant, net-leased (STNL) property requiring minimal owner management.
  • Significant residential redevelopment potential: MMU/R3 zoning allows for future residential conversion after lease expiration, with potential cash flow during the entitlement process.
  • Triple-net (NNN) lease structure: Apollo Auto is responsible for all property expenses, offering a hands-off investment.
  • Strong rental growth: 3% annual rent increases provide a growing income stream.
  • High-visibility location: Hard corner lot at Garvey Ave and Dee Ave, with daily traffic exceeding 45,161 vehicles.
  • Excellent demographics: Over 197,943 residents within a three-mile radius, boasting an average household income exceeding $97,936.

Property Details for 11400 Garvey Ave

Property type
Retail properties, Auto shops
Square Feet
1,170 SF
Year Renovated
1997
Buildings
1
Stories
1
Lot Size (sq. ft)
22,216 SF
Units
1

Location Insight

City
El Monte
County
Los Angeles
State
California
Latitude
34.0621307
Longitude
-118.0290757
11400 Garvey Ave, El Monte, California

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11400 Garvey Ave
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