1360 E Grand Avenue
Arroyo Grande, CA 93420

$1,240,000

Description

Modified NNN CREDIT TENANT LEASE INVESTMENT: 3,375 square foot retail building located in the City of Arroyo Grande. Currently, the property is 100.0% leased and occupied. Access and commercial exposure of the subject is good due to its direct frontage along East Grand Avenue, a main arterial within the trade area. The subject is a freestanding bank branch building with a drive-thru that is located within a larger neighborhood center anchored by Smart & Final and Dollar Tree. The subject building includes one walk-up ATM at the building entrance and a drive-thru window at the rear of the building. The subject is accessible via curb cuts along both East Grand Avenue and Courtland Street. Tenant Lease Information: Modified NNN Lease (tenant pays for taxes, insurance; and Landlord and Tenant pay for certain maintenance expenses). Minimum rent $4,565.70 per month with 2% annual increases. The current Tenant has occupied the building since 2011 on an original 5-year lease that expired October 31, 2016. Tenant exercised their first of three Five year options, which shall expire October 31, 2021.

Details

MLS#SP18049267
StyleIQWeb_Other Business Opportunity
Sub-TypeResale
StatusActive
Year1981
Days On Site87

Features

SQ Feet3,375
Story(s)0

Market Activity 93420

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Area Information

StateCA
CountySan Luis Obispo
CityArroyo Grande
Zip Code93420
AreaARRG - Arroyo Grande
Listing VS Median (in 93420)
Price:
$1,240,000
low | high
Med:
$727,000
91.370967741935% of Average
SqFt:
3,375
low | high
Med:
1,867
94.681481481481% of Average
$ / SqFt:
$367
low | high
Med:
$392
43.285429472812% of Average
On Site:
87
low | high
Med:
22.5
100% of Average
Listing Updated: 05/27/2018
MLS Number: SP18049267
Listing Provided By:
Brenda Benninghoff  of  R. Poltl Associates Inc.
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