Sold at a 5.03% CAP rate
Absolute Triple Net
Outstanding Location - Next to Cerritos Mall
Signalized Corner - NWC South St & Gridley Rd
Located on Busy South St less than a mile from I-605
Excellent Parking Ratio at 5.97:1
This Comercia Bank property is a beautiful jewel box of an absolute triple net, single tenant net leased investment property. The subject property is located next to the very busy Los Cerritos Shopping Center in the City of Cerritos on the northwest signalized corner of South Street and Gridley Road. The subject property is occupied by Comerica Bank which is a national credit-worthy tenant.
They are long term tenants and plan to continue their occupancy. The building size is 4,016 Sq. Ft. The land parcel is 27,443 Square Feet (0.63 acres) located on a unique and separate parcel of land. This property is subject to a lease with annualized schedule rent increases providing the investor landlord to a steady and consistent rent increases enhancing the rate of return each year.
The absolute triple net feature of the lease has the tenant completely responsible for all ongoing operational fees, maintenance and taxes.
If your investment objective to acquire a passive investment with a credit worthy tenant, this is an excellent property for you to consider. For further information on this and other single tenant net leased investment opportunities, please contact our Vice President Brian C. Russell, CCIM . Contact Mr. Russell at our office at (562) 800-0838 or on his mobile at (562) 688-8158 or via email email@example.com .
Investment, Special Purpose