241 S Citrus Ave - Auto Dealership FOR SALE


Covina, CA 91723- Downtown Covina
$2,350,000 USD
949-400-0957
241 S Citrus Ave, Covina, CA for Sale
$2,350,000 USD
Auto Dealership - FOR SALE
1/4
null | 5.25% Cap Rate

241 S Citrus Ave
Covina, CA 91723
Downtown Covina


HIGHLIGHTS

  • Freestanding Single Tenant NNN Leased Invwtment. National Credit Tenant

OVERVIEW

RARE OPPORTUNITY TO OWN AN ABSOLUTE NNN LEASE WITH A NATIONAL CREDIT TENANT The tenant is responsible for all building expenses and operating costs. Owner has not structural obligations. Tenant to pay all taxes, insurance and maintenance. 3% ANNUAL RENT INCREASES The rent increases by three (3%) every January 1st through January 01, 20235 MAJOR RENOVATIONS TO THE PROPERTY ARE BEING IMPLEMENTED BY THE TENANT The tenant will be making substantial renovations to the property demonstrating their long term commitment to the site. PRIME LOCATION The property is close to 10, 57 and 210 Freeways. It is also adjacent to the Covina Automotive Corridor. DENSE INFILL LOCATION WITH LITTLE OR NO SUITABLE LAND AVAILABLE FOR DEVELOPMENT The surrounding area is home to approximately 176,500 residents within a three-mile radius (2024), with median household incomes exceeding $108,000. This strong demographic base supports consistent demand for automotive and related services. STRONG DEMOGRAPHICS IN UPSCALE COVINA NEIGHBORHOOD Situated in the highly active Inland Empire region, benefiting from diverse industries, growing population, and near-term infrastructure investment

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$522 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

ADD'L SUBTYPES

undefined, Freestanding, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

CVTCC*

APN/PARCEL ID

8444-008-032

ASK ABOUT THIS PROPERTY

Jack FarisVoit Real Estate ServicesMore Info
949-400-0957

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Jack FarisVoit Real Estate ServicesMore Info
949-400-0957

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