LA QUINTA’S INDUSTRIAL DEALS NOW

$11,677,000

Description

RETAIL WAREHOUSE: Amazon Fresh 78945 Highway 111 La Quinta, CA 92253 36,876 SF Retail Building ($316.66/SF) 6% Cap Rate $11,677,000

INVESTMENT HIGHLIGHTS

Long Term Lease, Coupon Clipper Lease – Amazon Fresh is on a long-term 15- year NNN lease
(13+ years remaining)
Best in Class Credit STNL Investment – 36,876 SF retail building, leased to Amazon Retail, LLC,
and therefore guaranteed by Amazon, Inc.
Newly Renovated Building

EXECUTIVE SUMMARY

* Best in Class Credit STNL Investment – 36,876 SF retail building, leased to Amazon Retail, LLC, guaranteed by Amazon, Inc., a Fortune 500 top “2” company, located in Washington Park, a 511,171 SF, dominant institutional-quality community shopping center fronting Highway 111, co-anchored by a high performing Target, Lowe’s, Trader Joe’s, ULTA, TJ Maxx, Cost Plus World Market and CVS

* Long Term Lease, Coupon Clipper Lease – Amazon Fresh is on a long-term 15- year NNN lease (13+ years remaining), thus, virtually eliminating any near-term risk, perfect for out town and passive investors

* Newly Renovated Building – The roof, HVAC, storefront with tenant’s branding, floor slab, electrical, plumbing, trash enclosures as well as dual dock high loading docks to serve a high-volume operation are all newly constructed

* Significant Frontage, Visibility and Ease of Access – Unmatched visibility, Washington Park boasts over ±2,300 linear feet of frontage along Highway 111, the most traveled arterial in the trade area

* High Traffic Location – Strong traffic counts of ±39,747 cars per day along Highway 111 and ±49,028 cars per day at Washington Street and over ±14,000 cars per day along Adams Street

* Entertainment Hub – The Coachella Valley welcomes nearly 1 million attendees annually across two music festivals spanning the entire month of April, both “Stagecoach” and “Coachella” represent top 10 music festivals nationally by attendance and convert the immediate region into the center of southern California’s music scene every spring. Additionally, every March the Indian Wells Tennis Gardens hosts the “BNP Paribas Open” which welcomes more than 475,000 fans yearly.

PROPERTY FACTS
Sale Type Investment NNN
Property Type Retail
Property Subtype Freestanding
Building Size 36,876 SF
Building Class C
Year Built/Renovated 2004/2024
Price $11,677,000
Price Per SF $316.66
Cap Rate 6%

$11,677,000
NOI $700,644
Tenancy Single
Building Height 1 Story
Building FAR 0.21
Lot Size 3.97 AC
Zoning CR
Parking 250 Spaces (6.78 Spaces per 1,000 SF Leased)
Frontage 686’ on Highway 111

PROPERTY TAXES