8039 Monet AveRancho Cucamonga, CA 91739
- Retail properties
- 6,041 SF
Property Details for 8039 Monet Ave
- Year built
- 2007
- Construction
- STEEL FRAME
- Lot size
- 0.65 AC
- Property size (Sq ft)
- 6,041 SF
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 1090-551-15-0000
- APU
- 1090551150000
Description
This exceptional investment opportunity presents a 6,000 square foot Richie's Real American Diner located in Rancho Cucamonga, CA, at 8039 Monet Ave, 91739. The property sits on a 0.65-acre lot and boasts a highly desirable absolute NNN ground lease with a corporate guarantee, ensuring consistent cash flow. The current lease, initiated October 16, 2007, extends to December 31, 2032, with a remaining term of approximately 8.1 years. The lease includes three 5-year renewal options, and rent increases by 10% every five years. The property enjoys 100% occupancy, generating a strong net operating income (NOI) of $159,720, resulting in a 6.00% cap rate. Built in 2007, this diner benefits from its prime location adjacent to the 1.2 million square foot Victoria Gardens super-regional mall, providing exceptional visibility and accessibility. The property enjoys convenient access to major freeways, including I-15 (204,249 vehicles per day) and is near the I-10/I-15 intersection (475,717 vehicles per day). This location is part of a thriving retail corridor with major national retailers. The surrounding area demonstrates strong demographics, with 274,654 people within a 5-mile radius and an average household income of $118,322. The asking price for this leased fee ownership (land ownership) is $2,662,000. This is a rare opportunity to acquire a stable, high-performing investment property with significant long-term potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,071,384
- 6.5%
- $1,912,046
- 7%
- $1,775,472
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,378,134
- Geo Method
- $4,873,819
-
Alternative Use
- Use
- Valuation
- Residential
- $1,612,883
- Hospitality
- $1,477,392
- Educational
- $1,229,173
- Medical
- $1,271,446
- Retail
- $1,912,046
Location Insight
- City
- Rancho Cucamonga
- County
- San Bernardino
- State
- California
- Latitude
- 34.1073
- Longitude
- -117.534
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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