8039 Monet AveRancho Cucamonga, CA 91739

  • Retail properties
  • 6,041 SF
For Sale
$2,662,000 View listing

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
8039 Monet Ave, Rancho Cucamonga, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$55,968
$656,187
$3,937,127
$4,593,314
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