2230 Pacific Coast Hwy - Storefront Retail/Office FOR SALE


Lomita, CA 90717
$5,250,000 USD
310-877-2348
2230 Pacific Coast Hwy, Lomita, CA for Sale
$5,250,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | 4.66% Cap Rate

2230 Pacific Coast Hwy
Lomita, CA 90717


HIGHLIGHTS

  • single-tenant triple net-leased investment occupied by Enterprise Rent-A-Car
  • annual three (3%) percent rent bumps throughout the term
  • outstanding visibility and approximately 78,000 vehicles passing daily
  • surrounding retailers including Target, CVS, and Dollar Tree

OVERVIEW

This offering presents a rare opportunity to acquire a single-tenant triple net-leased investment occupied by Enterprise Rent-A-Car, an investment-grade tenant (S&P: A- | Moody’s: A3 | Morningstar DBRS: A), along one of Southern California’s most heavily traveled coastal corridors, benefiting from outstanding visibility and approximately 78,000 vehicles passing daily. Enterprise has operated at this location on the famous Pacific Coast Highway for more than twenty-five years and has just extended its lease until 2037 with two five-year options. Unlike typical retail NNN leases offering flat ten percent increases every five years, this agreement provides annual three (3%) percent rent bumps throughout the term. Offered at a 4.66 cap on 2027’s annual rent, the yield compounds to roughly 5.1 percent by year five and approximately 5.24 percent by year six. Additionally, the five-year renewal options contain fair market value adjustments with a 104% minimum floor (up to 110% cap, compounding at 3% annually thereafter). The site sits on roughly 0.84 acres along one of Southern California’s most heavily traveled coastal arterials. The site is anchored by major surrounding retailers including Target, CVS, and Dollar Tree, while directly serving the affluent communities of the Palos Verdes Peninsula, Rolling Hills, and Torrance. For a longer-horizon owner, the lease also preserves the right to recapture the parcel for redevelopment on forty-eight months’ notice, offering exceptional long-term optionality for high-density infill land along Pacific Coast Highway. Enterprise Rent-A-Car, founded in 1957, is one of the largest transportation and mobility companies in the world, operating alongside National Car Rental and Alamo Rent A Car across thousands of locations. Enterprise is a privately held company and an investment-grade tenant.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$2,534 USD /SF

CAP RATE

4.66%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,332 SF

ZONING

C3, Lomita

APN/PARCEL ID

7553-002-027

ASK ABOUT THIS PROPERTY

Eli MashiachHR Property GroupMore Info
310-877-2348

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Eli MashiachHR Property GroupMore Info
310-877-2348

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