For Sale
$3,600,000

3541 Hamner AveNorco, CA 92860

Prime CA QSR, 20-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 2,446 square foot Freddy's Frozen Custard & Steakburgers restaurant in Norco, California. Located at 3541 Hamner Ave, 92860, this Class A property sits on a 21,344 square foot lot and boasts a 20-year absolute NNN lease commencing March 30, 2024, and expiring March 30, 2044. The lease includes six 5-year renewal options with a 10% rent increase every five years, providing a built-in hedge against inflation. The property features 100% occupancy and a strong net operating income (NOI) of $180,000, resulting in a 5.00% cap rate. The asking price is $3,600,000, translating to $1,471.79 per square foot. The tenant, a franchisee, operates multiple locations and provides a strong financial guarantee. The property benefits from a high-traffic location on Hamner Avenue (37,000+ vehicles per day), strong demographics (290,000 residents within a 5-mile radius), and projected annual sales exceeding $3 million. This fee-simple ownership offers a secure, passive income stream with minimal landlord responsibilities. The property's APN is 131-230-027. This is a rare opportunity to acquire a high-performing, established QSR in a desirable location with significant long-term growth potential.

Highlights

  • Brand new 20-year absolute NNN sale-leaseback; 10% rent increases every five years; six, five-year option periods.
  • Fast-growing tenant (Freddy's) with approximately 512 locations, ranked #8 among fastest-growing U.S. chains.
  • Strong, experienced guarantor (Salim Development, LLC) operating over 22 locations, multiple concepts, and providing a 10-year personal guarantee.
  • Strong sales projections exceeding $3 million annually, based on comparable stores.
  • High-profile location on Hamner Avenue (37,000+ VPD) in Norco, CA.
  • Strong demographics: 290,000 residents within a 5-mile radius.

Property Details for 3541 Hamner Ave

Property type
Retail properties, Restaurants
Square Feet
2,446 SF
Class
A
Year Built
2024

Location Insight

City
Norco
County
Riverside
State
California
Latitude
33.9344423
Longitude
-117.5572444
3541 Hamner Ave, Norco, California

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3541 Hamner Ave
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