Del Mar CA 92014
HIGHLIGHTS: Attractive offering Actual CAP Rate of 5.00% / Single Tenant NNN properties in the immediate area are trading between 4.00%-4.50% CAP rates. ProForma CAP Rate of 5.14%. The ProForma CAP Rate is achieved at next built-in 3.00% rental increase. Single Tenant NNN, 10 year lease, with built-in 3.00% rental increases/ Del Mar is a quaint seaside village located just 20 miles north of San Diego. Additional passive income of $7,800/YR, long term land lease of 17,500 Sq. Ft. of vacant undeveloped land/ Lot is a total of 1.38acres, 60,113 Sq. FT. The tenant has occupied this location for many years and is a local favorite! Recently signed new 10 year lease agreement. Ample onsite parking Asphalt-paved parking area of 26+ spaces. (5.36 per 1,000 SF) BACK ON THE MARKET, BUYER FAILURE TO PERFORM. DRIVE BY ONLY- PLEASE DO NOT DISTURB TENANT- The Property; All Creatures Pet Hospital is a two-story,4,311 Sq. Ft. building being built in 1984. Updates and upgrades have been completed throughout ownership and show a great pride of ownership. The lot totals 1.38 acres and is located directly adjacent to a tack and feed store and immediately North of the Show park of San Diego. The property features ample onsite parking, fenced areas for dogs and great visibility from Via De La Valley & El Camino Real.
Listing provided courtesy of ALBERT LE of LE INVESTMENT GROUP. Last updated 2022-11-29 09:50:21.000000. Listing information © 2021 CRMLS.