Richie's Real American Diner 40651 Murrieta Hot Springs 6,966 SF Retail Building Murrieta, CA 92562 $5,259,111 CAD ($754.97 CAD/SF) 6.63% Cap Rate

Marcus & Millichap Commercial Real Estate Company is pleased to exclusively present an absolute NNN investment opportunity located at 40651 Murrieta Hot Springs Road in Murrieta, California.
This well-known regional tenant, Richie’s Real American Diner, has occupied said building since being built-to-suit in year 2005. The lease in-place has no landlord responsibilities and there is approximately ±9 years and 3 months remaining on the original term with four-5-year options to renew. The tenant has historically strong and consistent sales, hence there is a very low rent to sales ratio (please contact listing team for further information on sales figures). Richie’s Real American Diner is situated in the Murrieta Pointe Shopping Center, with other tenants including Starbucks, Pacific Premier Bank, T-Mobile, and various other retail, medical/dental practices. Situated on a corner lot, the property has excellent street exposure on Murrieta Hot Springs Rd, with ±48,790 vehicles per day and is within two blocks of the I-215 and 1-15 on/off -ramps.
Richie’s Real American Diner and the shopping center is located directly across from the highly anticipated Golden Triangle Lifestyle development which will consist of ±1.7 million square feet of hotel, office, retail and entertainment attractions. Anticipated construction is estimated to start in the next 2 to 3 years. Estimated Year 1 Accelerated Depreciation of ±$735,000 utilizing Cost Segregation, please contact listing agents for detailed information.