1620-1640 W Martin Luther King Jr Blvd - Car Washes FOR SALE


Los Angeles, CA 90062- South Central LA
$6,364,000 USD
949-506-2009
1620-1640 W Martin Luther King Jr Blvd, Los Angeles, CA for Sale
$6,364,000 USD
Car Washes - FOR SALE
1/11
null | 5.5% Cap Rate

1620-1640 W Martin Luther King Jr Blvd
Los Angeles, CA 90062
South Central LA


HIGHLIGHTS

  • 20-Year Sale-Leaseback | 10% Scheduled Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • University Location | 1 Mile from the University of Southern California
  • Prime Los Angeles Location | High Traffic Urban Corridor
  • Dense Infill Retail | Strong National & Credit Tenant Synergy
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Super Star Car Wash investment property located in Los Angeles, California. The tenant, Super Star Car Wash recently signed a brand new 20-year sale-leaseback with 2 (5-year) and 1 (4 Year, 11 Month) option to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$6,364,000 USD

PRICE/SF

$916 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Super Star Car Wash | 20yr Abs NNN SLB

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

C2-1-CPIO

APN/PARCEL ID

5021-007-038

ASK ABOUT THIS PROPERTY

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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