FOR SALE La Puente, CA Hacienda Promenade Multi-Tenant Retail Pad
LOCATION BUILDING SIZE LOT SIZE PRICE/CAP NET OPERATING INCOME (NOI) 1393 N. Hacienda Blvd, La Puente, CA 91744 5,203 sq. ft. 18,627 sq. ft. P$ 3,000,000 5.15% CAP $ 154,350 YEAR BUILT COMMENTS 2001 Subject property is a 5,203 SF multi-tenant retail building in one of the busiest, hard corners in all of La Puente. The property is currently occupied by a corporate guaranteed Ace Cash Express, and top operating franchisees Subway and Cricket Wireless. The building is surrounded by residential homes and like-kind retail buildings, and sits across the street from a Wal-Mart Neighborhood center. The property boasts good curb appeal, and has top exposure to all traffic along Hacienda Blvd. Great upside opportunity with under market rents and expiring option periods.
1.
The City of La Puente is approximately 3.48 square miles and is home to approximately 40,000 people. It is primarily a residential community with multiple types of businesses. The City s community is preserved by a well defined general plan. The City of La Puente is a general municipal city incorporated on August 1, 1956. The City continues to flourish for employees, residents and businesses alike as the City s resources of undeveloped land and large labor pool work hand-in-hand with the county government to expand its already established commerce. During the 1930 s, the area was famous for its fruit and walnut groves. The largest walnut packing plant in the world was located in the City. Today, the suburban community of over 40,000 people is predominately residential (70%), with commercial land use located primarily along major highways and streets. Industrial land use is less than five percent (5%) of the City s 3.5 square mile land area. POP FACTS Population: 40,435 Number of Housing Units: 9.761 Average Household Size: 4.22 Median Home Value: $298,200 Median Household Income: $52,886
RENT ROLL Unit(s) Lease Lease Type Size 1393 North Hacienda Blvd,La Puente Monthly Monthly Monthly Gross Lease Lease % Rent Rent NNN Annual From To Per Area Income A Ace Cash Express NNN 2,500.00 48% 9/1/2001 8/31/2021 $ 6,860.42 $ 2.74 $ 1,983.79 $ 106,130.54 B Subway NNN 1,200.00 23% 10/1/2001 9/30/2021 $ 3,356.83 $ 2.80 $ 952.22 $ 51,708.60 C Cricket Wireless NNN 1,503.00 29% 11/21/2014 2/29/2020 $ 2,645.28 $ 1.76 $ 1,192.66 $ 46,055.22 Total Current 5,203.00 100% $ 12,862.53 $ 4,128.67 $ 203,894.36
CASH FLOW Leased Income: $ 154,350.36 CAM Reimbursement $ 49,544.00 Total Income: $ 203,894.36 Vacancy $ - 0% GROSS OPERATING INCOME: $ 203,894.36 TOTAL EXPENSES: $ 49,544.00 NET OPERATING INCOME: $ 154,350.36
Cricket Wireless Cricket Wireless LLC is an American prepaid wireless service provider in the United States. Cricket Wireless is a wholly owned subsidiary of AT&T Inc. that offers mobile voice, text, and data. Cricket Wireless products and services are now offered at more than 4,300 Cricket Wireless-branded company and authorized retail stores in 50 states and the District of Columbia, with more than 14,000 points of retail distribution nationwide and the expansion of more than 800 new branded locations in 2016. LEASE OVERVIEW Tenant: Cricket Wireless, LLC. Lease Expiration: 2/29/2020 Options: Two each for 2-years Lease Type: NNN Annual Rent: $31,743.36 Rent Increases: 10% every 5 years Next Adjustment: $2,909.81 on 2/1/2020 Building Size: 1,503 square feet
Subway Subway is a privately held American fast food restaurant franchise that primarily purveys submarine sandwiches and salads. Subway is one of the fastest-growing franchises in the world and, as of June 2017, has approximately 45,000 stores located in more than 100 countries. More than half of the stores are located in the United States. It is the largest single-brand restaurant chain and the largest restaurant operator in the world. LEASE OVERVIEW Tenant: Subway Lease Expiration: 9/30/2021 Options: None Lease Type: NNN Annual Rent: $40,281.96 Rent Increases: 2% annually Next Adjustment: $41,087.60 on 10/1/2019 Building Size: 1,200 square feet
ACE Cash Express ACE Cash Express, Inc. is one of the largest owners and operators of check cashing stores in the United States. ACE serves consumers seeking alternatives to traditional banking relationships by providing convenient, immediate access to financial services. ACE serves customers in 24 states and the District of Columbia both online and through a network of stores. Founded in 1968, ACE provides a range of retail financial products and services including short-term consumer loans, check cashing, debit card services, money transfers, bill payments and money orders. LEASE OVERVIEW Tenant: ACE Cash Express, Inc. Lease Expiration: 8/31/2021 Options: None Lease Type: NNN Annual Rent: $82,325.04 Rent Increases: 3% annually Next Adjustment: $84,794.80 on 9/1/2019 Building Size: 2,500 square feet
Casey Young- BRE Lic #01879942 Vice President T: 619.398.8906 E: cyoung@capital-rev.com Trevor Hutchinson BRE Lic #02011490 Associate T: 619.398.8904 E: thutchinson@capital-rev.com Blake Rodgers BRE Lic #02015513 Associate T: 619.398.8934 E: brodgers@capital-rev.com