9032 Adams AveHuntington Beach, CA 92646

Property Details for 9032 Adams Ave

Year built

1974

Lot size

0.34 AC

Property size (Sq ft)

2,526 SF

Property type

Commercial real estate

APN

151-191-20

APU

15119120

Description

This exceptional investment opportunity presents a 2,511 square foot Jiffy Lube, situated on a 14,999 square foot lot in Huntington Beach, California (APN: 151-191-20). The property boasts a stabilized, absolute NNN lease with the national franchisee, Jiffy Lube, with a remaining lease term of 7.3 years, plus two 5-year options with 10% rent bumps every 5 years. The lease commenced December 15, 1998, and expires February 28, 2032. The property, built in 1974 and renovated in 2004, is zoned Commercial General and enjoys 100% occupancy, generating a Net Operating Income (NOI) of $109,054, representing a 4.50% cap rate. The asking price is $2,423,400 ($965.11 per square foot). This location is an outparcel to Adams Marketplace, a shopping center anchored by Smart & Final, and benefits from high traffic counts on Adams Avenue and Magnolia Street, estimated at 34,000 and 17,000 cars per day respectively. The property's strong location within a supply-constrained trade area, coupled with the tenant's long-term history (over 21 years) and recent lease extension, makes this a compelling investment opportunity suitable for a 1031 exchange. A Phase I Environmental Site Assessment (ESA) was completed in 2022 with no additional testing required. The property's current rent is significantly below market rates, offering potential for future appreciation. This Jiffy Lube location is in the top 11% of Jiffy Lube locations in the US based on estimated visits (40,000 in the past year).

• CAP approach

  CAP return

  Valuation

  6%

  $679,719

  6.5%

  $627,433

  7%

  $582,617

• Comparable approach

  Method

  Valuation

  Relative Method

  $431,375

  Geo Method

  $889,076

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,235,630

  Retail / Commercial

  $633,555

  Mixed-Use / Specialty

  $631,241

  Hospitality / Lodging

  $463,049

  Office

  $627,433

  Institutional / Educational

  $656,217

  Residential Income

  $767,773

  Multifamily

  $921,133

  Automotive / Energy

  $562,471

  Parking / Income-Based Land

  $194,157

  Restaurant / Food Service

  $328,195

  Healthcare / Senior Housing

  $647,383

Location Insight

City

Huntington Beach

County

Orange

State

California

Latitude

33.6719

Longitude

-117.97

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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