For Sale
$2,623,000

860 Main StCorona, CA 92878

High-yield Roll-Em-Up Taquitos NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a 2,533 square foot Roll-Em-Up Taquitos restaurant in Corona, CA. Located at 860 N Main St, this 2022-built QSR sits on a 0.54-acre lot with 25 parking spaces and benefits from a strong location within Parkridge Plaza, a new A-Class retail center. The property boasts a 5.00% cap rate and a substantial NOI of $131,158. The current lease, a triple-net (NNN) agreement, runs until May 12, 2032, with two five-year options. Rent increases are structured at 12.5% every five years and 15% at each option renewal. The property benefits from a high-traffic location with 41,700 cars daily passing nearby intersections, and is surrounded by numerous shopping centers and national retailers including Target, Walgreens, Costco, and Walmart. The area boasts a large residential population within a three-to-five-mile radius, including several luxury apartment complexes providing a built-in customer base. The Inland Empire's robust economy, particularly in manufacturing, distribution, and logistics, further enhances the property's long-term value. This is a rare opportunity to acquire a well-performing, established QSR in a prime location with significant growth potential. The property's APN is 122-061-010.

Highlights

  • Roll-Em-Up Taquitos, a rapidly expanding national taquito restaurant chain, occupies the space.
  • Personally guaranteed lease by high-net-worth individuals.
  • Located in the new, Class A Parkridge Plaza retail center (2022 construction).
  • Eight-year lease term remaining, with two five-year options. Triple-net lease (NNN).
  • 10% rent increases every five years, 15% at each option renewal. 5.39% average cap rate over the initial lease term.
  • Strong demographics: 116,264 residents within 3 miles, 266,698 within 5 miles. High daily traffic counts (41,700 vehicles).

Property Details for 860 Main St

Property type
Retail properties
Square Feet
2,533 SF
Year Built
2022
Lot Size (sq. ft)
23,522 SF

Location Insight

City
Corona
County
Riverside
State
California
Latitude
33.894896831373
Longitude
-117.56332288855
860 Main St, Corona, California

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860 Main St
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