For Sale
$13,633,000

840 Main StCorona, CA 92878

Triple-Net Leased QSR Portfolio, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of three thriving quick-service restaurants (QSRs) in Corona, CA's vibrant Parkridge Plaza. The property encompasses 8,843 square feet on a 2.4-acre lot, featuring Raising Cane's with a double drive-thru, The Habit Burger Grill with a single drive-thru, and Roll-Em-Up Taquitos. Built in 2022, this Class-A retail center boasts a strong NOI of $603,306, yielding a compelling 4.43% cap rate at an asking price of $13,633,000. All three tenants operate under Triple Net (NNN) leases, providing significant investor protection. Raising Cane's operates under a corporate lease, while The Habit Burger Grill's lease is backed by The Habit Burger Restaurants LLC. Roll-Em-Up Taquitos' lease includes personal guarantees from several high-net-worth individuals. The property benefits from a prime location at 840, 860, and 870 N Main St, Corona, CA 92878, within a dense retail corridor near major freeways (I-91 and I-15), boasting high daily traffic counts and proximity to numerous national retailers and substantial residential populations (116,264 within 3 miles, 266,698 within 5 miles). The area also features several large apartment complexes, ensuring a consistent customer base. This strategically located asset offers a compelling combination of strong tenants, high NOI, and significant growth potential within the rapidly expanding Inland Empire economy. The property's APN is 122-061-009, 122-061-012, and 122-061-010.

Highlights

  • Three QSRs (Raising Cane's, The Habit Burger Grill, Roll-Em-Up Taquitos) in a 2022-built, Class-A retail center.
  • Strong tenant mix with corporate and personally guaranteed leases; all Triple Net (NNN).
  • 8,843 SF building on a 2.4-acre lot, located at 840, 860, and 870 N Main St, Corona, CA 92878 (APN: 122-061-009, 122-061-012, 122-061-010).
  • High NOI of $603,306, 4.43% cap rate at $13,633,000 asking price.
  • Excellent location in a dense retail corridor with high traffic counts (41,700 CPD), near major freeways (I-91 & I-15), and surrounded by national retailers and substantial residential population (116,264 within 3 miles, 266,698 within 5 miles).

Property Details for 840 Main St

Property type
Retail properties, Restaurants
Square Feet
8,843 SF
Year Built
2022
Lot Size (sq. ft)
104,544 SF

Location Insight

City
Corona
County
Riverside
State
California
Latitude
33.895262929365
Longitude
-117.5634510566
840 Main St, Corona, California

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840 Main St
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