Investment Offering
Los Angeles, CA - 76 Gas Station
7400 La Tijera Blvd | Los Angeles, CA 90045
$4,033,000
Price5%
Cap Rate$201,659
NOI1,753
± SF Offering GLA0.27
± 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 United Pacific/76 Gas Station property in Los Angeles, California. The property is ideally situated just 3 miles from LAX Airport (32.2M+ annual passengers), 6 miles from Marina Del Rey, and 3 miles from Sofi Stadium (3.1M SF, 70,240 seats), the largest stadium in Los Angeles. The tenant, United Pacific APRO, LLC, has approximately 12 years remaining on its current lease term with 3 (5-year) options to extend. The lease features 7.5% increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity and is absolute NNN with zero landlord responsibilities, making this an ideal, low-management investment for a passive investor. Fee simple ownership of a convenience store qualifies for bonus depreciation (see page 16 for details). United Pacific is a leading gas station/c-store operator with more than 500 gas station/c-store locations across the Western United States.
Location
The subject property is strategically located along La Tijera Boulevard (44,800 VPD), and benefits from nearby direct on/off ramp access to Interstate 405, a primary thoroughfare serving 314,000 vehicles per day. The site features excellent visibility via significant street frontage and a large pylon sign, and has multiple points of ingress/egress. The property is located directly between LAX Airport and the 405 Freeway, providing an immediate gas station/c-store option for individuals traveling to and from the airport. In addition, the site is located near several national/credit retail tenants including Amazon Fresh, Ross Dress for Less, Ralphs, Smart & Final, CVS Pharmacy, Petco, Marshalls, Chick-fil-A, Starbucks, and many more, further increasing consumer draw to the surrounding trade area. The 5-mile area is supported by more than 729,000 residents and 376,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an affluent average household income of $138,569.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215