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1772 W Florida Ave
Hemet, CA 92545
Allen Tire Company | Low Price/Foot · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Single-Tenant Net Lease Tire Shop Portfolio (Located in the Riverside-San Bernardino-Ontario MSA)
- Below Market Rental Rates ($20/sf Market Rental Rate per CoStar, Rent is Currently at $11.34/sf)
- Monro Acquired the Former Operator in Dec. 2020 (Publicly Traded Tenant | NASDAQ: MNRO, Formerly Allen Tire Company)
- High Barrier of Entry for Auto Repair Businesses (Grandfathered in Locations)
- Low Price per Foot Basis (Priced Under $200/Ft)
- Historical Occupancy | Market Dominance (Locations have been in business for 40+ Years)
EXECUTIVE SUMMARY
• Single-Tenant Net Lease Tire Shop Portfolio
- Located in the Riverside-San Bernardino-Ontario MSA
• High Barrier of Entry for Auto Repair Businesses
- Grandfathered in Locations
• Below Market Rental Rates
- $20/sf Market Rental Rate per CoStar
- Rent is Currently at $11.34/sf
• Low Price per Foot Basis
- Priced Under $200/Ft
• Monro Acquired the Former Operator in Dec. 2020
- Publicly Traded Tenant | NASDAQ: MNRO
- Formerly Allen Tire Company
• Historical Occupancy | Market Dominance
- Locations have been in business for 40+ Years
• Surrounded by National Tenants
- Target, Walmart, Best Buy, & More
• Steady Population Growth
- 176,000 People Within a Five-Mile Radius
• 100 Feet of Frontage on W Florida Ave.
- 30,000+ Vehicles per day
- Located in the Riverside-San Bernardino-Ontario MSA
• High Barrier of Entry for Auto Repair Businesses
- Grandfathered in Locations
• Below Market Rental Rates
- $20/sf Market Rental Rate per CoStar
- Rent is Currently at $11.34/sf
• Low Price per Foot Basis
- Priced Under $200/Ft
• Monro Acquired the Former Operator in Dec. 2020
- Publicly Traded Tenant | NASDAQ: MNRO
- Formerly Allen Tire Company
• Historical Occupancy | Market Dominance
- Locations have been in business for 40+ Years
• Surrounded by National Tenants
- Target, Walmart, Best Buy, & More
• Steady Population Growth
- 176,000 People Within a Five-Mile Radius
• 100 Feet of Frontage on W Florida Ave.
- 30,000+ Vehicles per day
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
7,920 SF
Building Class
C
Year Built
1972
Price
$2,063,844 CAD
Price Per SF
$260.59 CAD
Cap Rate
6%
NOI
$123,831 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
C2, Hemet - Commercial
Parking
23 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 448-440-012 | Improvements Assessment | $978,033 CAD |
| Land Assessment | $643,361 CAD | Total Assessment | $1,621,394 CAD |
PROPERTY TAXES
Parcel Number
448-440-012
Land Assessment
$643,361 CAD
Improvements Assessment
$978,033 CAD
Total Assessment
$1,621,394 CAD
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