Property details
A Triple Net Lease, Pacific West Region
Property Description
A Triple Net Lease
A Triple Net Lease with Pep Boys as the tenant. This triple net lease property sits between two major malls. Nearby plans are for up to 750 residential units, mostly condos, townhomes and lofts, plus approximately 120,000 square feet of commercial space set within an urban, park-like setting.
Own this triple net lease property with hot demographics. Estimated population, as of 2006, is 205,010. It is the 18th largest city in the stateand the 101st largest city in the United States.
What is a triple net lease ?
A triple net lease is a lease where the tenant has 100% responsibility for all expenses. Most triple net lease buyers will want these “armchair” investments over non triple net lease properties.
Other property related to a triple net lease
» Search for all properties related to a triple net lease by selecting "Absolute Triple-Net (NNN) Only" in the Detailed Search of our PROPERTY SEARCH.
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Highlights
- Status:
- Available
- Price:
- $3,494,000
- PSF:
- $153
- Cap Rate:
- 5.90%
- Annual Rent:
- $206,172
- Rent Increases:
- 1.50% Annually
Property Information
- Building Size:
- 22,908 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Auto Parts - Repair
- Units/Spaces:
- 1
- Year Built:
- 1969
- Land Area:
- 1.13 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Pep Boys
- Lease Type:
- NNN
- Lease Commencement:
- 11/27/2007
- Lease Expiration:
- 11/26/2022
- Lease Term:
- 15 years
- Years Remaining:
- 13 years
- Landlord Responsibilities:
- None
- Options:
- Four 5-Year
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.