Investment Offering
Long Beach, CA - United Rentals
2635 E South St | Long Beach, CA 90805
$7,300,000
Price6.9%
Cap Rate$504,300
NOI3,000
± SF Offering GLA1.73
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, United Rentals investment property located in Long Beach, California. The tenant, United Rentals, has over 4.5 years remaining on their lease term with 3 (5-year) options to extend. The lease features 2.5% annual rental increases during the initial term and option periods, growing NOI and hedging against inflation. The lease is NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
Location
The subject property is located at the signalized, hard corner intersection of E. South St and Paramount Blvd with a combined 56,400 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to State Hwy 91, a major thoroughfare averaging over 277,000 vehicles per day. The asset is ideally situated in close proximity to Lakewood Center Mall, a 2,070,000 SF regional mall anchored by Target, Costco, Home Depot, Macy’s, Dollar Tree, Albertson’s and many more. Other nearby national/credit tenants include Target, Starbucks, McDonald’s, Walmart Supercenter, PetCo, CVS Pharmacy, Michaels, Wendy’s and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by more than 674,000 residents and 236,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $105,046.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |