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Allen Tire Company | Low Price/Foot 10976 Hole Ave 6 030 pi² Commerce de détail Immeuble Riverside, CA 92505 2 076 522 $ CAD (344,37 $ CAD/pi²) 6% Taux de capitalisation
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Single-Tenant Net Lease Tire Shop Portfolio (Located in the Riverside-San Bernardino-Ontario MSA)
- Below Market Rental Rates ($19/sf Market Rental Rate per CoStar, Rent is Currently at $14.89/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 $250/Ft)
- Historical Occupancy | Market Dominance (Locations have been in business for 40+ Years)
RÉSUMÉ DE L'ANNONCE
This single-tenant net lease tire shop portfolio offers a rare investment opportunity in the thriving Riverside-San Bernardino-Ontario MSA, one of Southern California’s most dynamic markets. The portfolio benefits from a high barrier to entry for auto repair businesses, with each location grandfathered in for continued operation. These sites have demonstrated historical occupancy and market dominance, operating successfully for over 40 years, which underscores their long-term stability and customer loyalty.
The properties are leased to Monro, Inc. (NASDAQ: MNRO), a publicly traded and nationally recognized automotive service provider that acquired the former operator, Allen Tire Company, in December 2020. This strong credit tenancy provides investors with confidence in income durability. Current rental rates are significantly below market, with in-place rents at $14.89 per square foot compared to the market average of $19 per square foot per CoStar, creating a clear path for future rent growth and value appreciation.
Priced under $250 per square foot, this portfolio offers an attractive basis in a high-demand region. The locations feature excellent visibility, including 100 feet of frontage on Hole Avenue with traffic counts exceeding 12,500 vehicles per day and quick access to La Sierra Avenue, which sees over 20,000 vehicles daily. The surrounding trade area is anchored by national retailers such as Target, Walmart, and Best Buy, ensuring strong consumer traffic. Additionally, the area boasts steady population growth, with over 262,000 residents within a five-mile radius, further supporting long-term demand for automotive services. This portfolio combines strong real estate fundamentals, a creditworthy tenant, and compelling upside potential, making it an ideal acquisition for investors seeking stable income and future growth in a supply-constrained market.
The properties are leased to Monro, Inc. (NASDAQ: MNRO), a publicly traded and nationally recognized automotive service provider that acquired the former operator, Allen Tire Company, in December 2020. This strong credit tenancy provides investors with confidence in income durability. Current rental rates are significantly below market, with in-place rents at $14.89 per square foot compared to the market average of $19 per square foot per CoStar, creating a clear path for future rent growth and value appreciation.
Priced under $250 per square foot, this portfolio offers an attractive basis in a high-demand region. The locations feature excellent visibility, including 100 feet of frontage on Hole Avenue with traffic counts exceeding 12,500 vehicles per day and quick access to La Sierra Avenue, which sees over 20,000 vehicles daily. The surrounding trade area is anchored by national retailers such as Target, Walmart, and Best Buy, ensuring strong consumer traffic. Additionally, the area boasts steady population growth, with over 262,000 residents within a five-mile radius, further supporting long-term demand for automotive services. This portfolio combines strong real estate fundamentals, a creditworthy tenant, and compelling upside potential, making it an ideal acquisition for investors seeking stable income and future growth in a supply-constrained market.
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FAITS SUR LA PROPRIÉTÉ
Type de vente
Investissement pour loyer hypernet
Type de propriété
Commerce de détail
Sous-type de propriété
Réparation automatique
Taille du bâtiment
6 030 pi²
Classe d’immeuble
C
Année de construction
1987
Prix
2 076 522 $ CAD
Prix par pi²
344,37 $ CAD
Taux de capitalisation
6%
Revenu net d’exploitation
124 591 $ CAD
Location
Unique
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,45
Taille du lot
0,31 AC
Zonage
C3
Stationnement
15 places (2,49 places par 1 000 pi² loué)
Façade
COMMODITÉS
- Enseigne sur pylône
Walk Score®
Très pratique à pied (72)
PRINCIPAUX DÉTAILLANTS À PROXIMITÉ
Impôts fonciers
| Numéro de lot | 146-253-034 | Évaluation des bâtiments | 985 445 $ CAD |
| Évaluation du terrain | 316 298 $ CAD | Évaluation totale | 1 301 743 $ CAD |
Impôts fonciers
Numéro de lot
146-253-034
Évaluation du terrain
316 298 $ CAD
Évaluation des bâtiments
985 445 $ CAD
Évaluation totale
1 301 743 $ CAD
CONTACTS
-
Giovanni Figueiredo -
Spencer Koch -
Rory Shelby -
Scott Gould -
Christopher Biuso -
Caitlin Lancaster -
Marcus & Millichap
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Allen Tire Company | Low Price/Foot | 10976 Hole Ave
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