1164 Calimesa Blvd
Calimesa, CA 92320
Ground lease Corporate Carls Jr · Land For Sale · 0.75 AC

Ground Lease Investment Opportunity
Carl’s Jr.
1164 Calimesa Blvd
Calimesa, California 92320
Absolute NNN Ground Lease
Corporate-Backed Tenant | Long-Term Performance
This offering presents an exceptional opportunity to acquire the leased fee interest in a prime Carl’s Jr. ground lease located at 1164 Calimesa Blvd in the desirable community of Calimesa, California. The property is situated on approximately 0.75 acres within The Shoppes at Calimesa, a well-maintained, high-occupancy retail center featuring a strong mix of national tenants.
• Tenant: Carl’s Jr. (corporate-backed lease)
• Lease Commencement: May 15, 2008
• Original Term: 20 years
• Extension Option: One additional 5-year option
• Current Rent (Lease Years 16-20): $119,790 per year ($9,982.50 per month)
• Lease Type: Absolute Triple-Net (NNN) Ground Lease – tenant responsible for all taxes, insurance, maintenance, utilities, and common area expenses
• Asking Price: $2,550,000
• Cap Rate: 4.7%
• NOI: $119,790
The tenant has operated successfully at this location for nearly 18 years, demonstrating strong long-term commitment in a stable, income-supportive market.
Property Description
The subject property consists of the underlying land for a modern, approximately 2,911 SF Carl’s Jr. restaurant with drive-thru. The tenant owns and maintains the building and all site improvements. The site benefits from excellent visibility along Calimesa Boulevard, ample parking, and prominent pylon signage within the shopping center. Aerial imagery and on-site photos confirm a clean, well-maintained facility in a high-traffic retail environment.
Tenant Overview
Carl’s Jr. is a leading quick-service restaurant brand known for its signature charbroiled burgers and innovative menu. This location benefits from a corporate-backed lease, providing investors with the security of a national operator with significant brand strength. Carl’s Jr. has a proven track record in suburban and highway-adjacent markets. The tenant’s long-term presence (since 2008) underscores the site’s viability and the operator’s confidence in the location.
Location & Demographics – Superior Neighborhood of Calimesa
Calimesa offers residents a superior quality of life in a charming, family-oriented suburb in Riverside County. Nestled near the foothills with scenic mountain views, the city combines a relaxed small-town atmosphere with convenient access to major regional employment centers and the I-10 freeway.
demographics (U.S. Census Bureau, 2020-2024 data):
• Population: Approximately 11,150 (with continued growth projected)
• Median Household Income: $87,181
• Per Capita Income: $42,639
• Poverty Rate: Low at 5.27%
• Households: Approximately 3,965
Calimesa’s solid household incomes support consistent consumer spending on quick-service dining and retail. The community is noted for its well-maintained streets, parks, safety, and desirable suburban lifestyle — making it an attractive environment for national retailers like Carl’s Jr.
Shopping Center Context
The Carl’s Jr. is prominently located within The Shoppes at Calimesa, a vibrant, professionally managed retail development featuring a strong roster of national and regional tenants, including:
• Walgreens (with drive-thru pharmacy)
• Starbucks
• Denny’s
• Subway
• Dollar Tree
The center is visually appealing, well-maintained, and benefits from shared customer traffic, high visibility, and excellent access. Public information indicates a robust tenant mix with strong overall occupancy, enhancing the stability and draw for the Carl’s Jr. location.
Why Ground Leases Are Ideal for Passive Investors
Ground leases are widely regarded as one of the most attractive real estate investments for hands-off investors:
• True Passive Ownership: The tenant is responsible for all property expenses, maintenance, repairs, insurance, taxes, and capital improvements under the absolute NNN structure. The landlord incurs no operational responsibilities.
• Predictable Cash Flow: Fixed base rent with built-in escalations provides stable, long-term income.
• Significant Residual Value: At lease expiration or if the tenant vacates, the investor inherits the fully constructed building and improvements at no additional cost. The site can then be re-leased or redeveloped, converting the ground lease into a valuable fee-simple asset.
• Inflation Protection & Downside Mitigation: Minimal management overhead combined with underlying real estate appreciation in a growing Southern California market.
This structure is perfect for investors seeking reliable passive income, portfolio diversification, and long-term wealth building without the burdens of active property management.
Investment Highlights
• Corporate-backed Carl’s Jr. with nearly 18 years of successful operation at this site
• Absolute NNN ground lease — zero landlord responsibilities
• Attractive 4.7% cap rate on $119,790 annual NOI
• Strong local demographics with median household income of $87,181
• Location within a well-maintained, high-occupancy shopping center anchored by national retailers
• Excellent visibility and traffic along Calimesa Blvd with proximity to I-10
• Residual real estate upside upon lease maturity or tenant transition