10976 Hole Ave - Auto Repair FOR SALE


Riverside, CA 92505- La Sierra
$1,496,700 USD
407-557-3859
10976 Hole Ave, Riverside, CA for Sale
$1,496,700 USD
Auto Repair - FOR SALE
1/4
null | 6% Cap Rate

10976 Hole Ave
Riverside, CA 92505
La Sierra


HIGHLIGHTS

  • Single-Tenant Net Lease Tire Shop Portfolio (Located in the Riverside-San Bernardino-Ontario MSA)
  • High Barrier of Entry for Auto Repair Businesses (Grandfathered in Locations)
  • Below Market Rental Rates ($19/sf Market Rental Rate per CoStar, Rent is Currently at $14.89/sf)
  • Low Price per Foot Basis (Priced Under $250/Ft)
  • Monro Acquired the Former Operator in Dec. 2020 (Publicly Traded Tenant | NASDAQ: MNRO, Formerly Allen Tire Company)
  • Historical Occupancy | Market Dominance (Locations have been in business for 40+ Years)

OVERVIEW

This single-tenant net lease tire shop portfolio offers a rare investment opportunity in the thriving Riverside-San Bernardino-Ontario MSA, one of Southern California’s most dynamic markets. The portfolio benefits from a high barrier to entry for auto repair businesses, with each location grandfathered in for continued operation. These sites have demonstrated historical occupancy and market dominance, operating successfully for over 40 years, which underscores their long-term stability and customer loyalty. The properties are leased to Monro, Inc. (NASDAQ: MNRO), a publicly traded and nationally recognized automotive service provider that acquired the former operator, Allen Tire Company, in December 2020. This strong credit tenancy provides investors with confidence in income durability. Current rental rates are significantly below market, with in-place rents at $14.89 per square foot compared to the market average of $19 per square foot per CoStar, creating a clear path for future rent growth and value appreciation. Priced under $250 per square foot, this portfolio offers an attractive basis in a high-demand region. The locations feature excellent visibility, including 100 feet of frontage on Hole Avenue with traffic counts exceeding 12,500 vehicles per day and quick access to La Sierra Avenue, which sees over 20,000 vehicles daily. The surrounding trade area is anchored by national retailers such as Target, Walmart, and Best Buy, ensuring strong consumer traffic. Additionally, the area boasts steady population growth, with over 262,000 residents within a five-mile radius, further supporting long-term demand for automotive services. This portfolio combines strong real estate fundamentals, a creditworthy tenant, and compelling upside potential, making it an ideal acquisition for investors seeking stable income and future growth in a supply-constrained market.

FOR SALE DETAILS

PRICE

$1,496,700 USD

PRICE/SF

$248 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Allen Tire Company | Low Price/Foot

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,316 SF

ZONING

C3

APN/PARCEL ID

146-253-034

ASK ABOUT THIS PROPERTY

Giovanni FigueiredoMarcus & MillichapMore Info
407-557-3859

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Giovanni FigueiredoMarcus & MillichapMore Info
407-557-3859

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.