1500 Anna Sparks WayMcKinleyville, CA 95519

Property Details for 1500 Anna Sparks Way

Year built

1996

Lot size

0.99 AC

Property size (Sq ft)

9,337 SF

Zone code

C-2-P-N

Property type

Retail properties

Property subtype

Retail space

APN

508-061-014-000

APU

508061014000

Description

This exceptional investment opportunity presents a thriving 4,975 square foot restaurant located at 1500 Anna Sparks Way, McKinleyville, CA 95519. Situated on a 1.22-acre lot, this single-tenant property boasts a strong 10-year gross lease with Mountain Mike's Pizza, offering significant passive income potential. The lease includes two 5-year options, ensuring long-term stability. The current occupancy is 100%, with a monthly rent that includes a $250 increase and a 6% rent bump on all monthly sales exceeding $100,000 (initial sales were $155,000). This provides a built-in hedge against inflation and potential property tax increases. Further enhancing the security of this investment, the lease is personally guaranteed by four individuals and includes a franchise addendum. The asking price for this turnkey operation is $1,500,000. This property offers a compelling combination of consistent rental income, a strong tenant, and a prime location in McKinleyville, California. The opportunity to benefit from rising rent and potential future revenue increases makes this a truly attractive investment prospect. Don't miss this chance to secure a stable and profitable addition to your portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,704,496

  6.5%

  $2,496,458

  7%

  $2,318,139

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,028,897

  Geo Method

  $6,028,897

• Alternative Use

  Use

  Valuation

  Residential

  $2,105,856

  Hospitality

  $1,928,952

  Educational

  $1,604,866

  Medical

  $1,660,060

  Retail

  $2,496,458

Location Insight

City

Mckinleyville

County

Humboldt

State

California

Latitude

40.9312

Longitude

-124.102

CBSA code

21700

CBSA name

EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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