For Sale $7,783,000
Property Type Retail - Street Retail
Property Size 12,144 SF
Date Updated Apr 12, 2024

This property boasts a prominent freeway pylon sign, adjacency to the E Highland Ave exit of the I-210 freeway, and positioning on the path to key traffic generators in the area, notably the Yaamava’ Resort & Casino and the San Bernardino Soccer Complex.Progressive Real Estate Partners is pleased to present the opportunity to acquire 4 separately parceled single tenant net lease (STNL) assets and approximately 1.5 acres of land ready for future development. Tenants include IHOP (corporate), Wienerschnitzel (corporate), Taco Bell (franchisee), and a successful, independent 76 service station. The restaurant leases feature an average lease rate of only $68,279/Yr., well below the current market rate of $90,000 to $150,000/Yr. and offering investors major upside potential upon lease renewals. This property boasts a prominent freeway pylon sign, adjacency to the E Highland Ave exit of the I-210 freeway, and positioning on the path to key traffic generators in the area, notably the Yaamava’ Resort & Casino and the San Bernardino Soccer Complex. This investment is a unique opportunity to acquire an asset that possesses the tenant quality typically found in STNL deals while maintaining the income diversity commonly associated with multi-tenant properties.

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Attachments

San Bernardino - 4 Adjacent Single Tenant Properties.pdf (PDF) opens in new window

Highlights

Hybrid Asset: Combining Single-Tenant Quality with Multi-Tenant Income Diversity – This asset possesses the tenant quality and lease structures typically found in single tenant net lease deals while maintaining the income diversity commonly associated with multi-tenant deals.
National Tenants – The property features nationally recognized brands- Taco Bell, IHOP, Wienerschnitzel & 76 Service Station.
Corporate Signatures – IHOP and Wienerschnitzel leases are signed directly with corporate.
Below Market Leases – The average restaurant lease rate for the center is is $68,279/Yr., well below the market lease rate of $90,000 to $150,000/Yr. and giving investors major upside potential upon lease renewals.
Embedded Rent Increases – Each lease includes embedded rent increases, serving as a hedge against inflation.
Development Opportunity – This property offers a unique opportunity for an investor to develop the ±1.5 acres of land, expanding the center and increasing revenue.
Freeway Pylon Sign – The property features a prominent freeway sign visible to over 100,000 CPD along the I-210 corridor.
Monument Signage – Each parcel features a dedicated monument sign.
Separately Parceled – Each asset is individually parceled and offers flexibility for future disposition strategies.
Direct Access to I-210 Freeway Exit – Situated directly adjacent to the I-210 freeway exit, the subject property is strategically positioned to capture a high volume of potential customers.
Surrounding Traffic Generators – The location shares a freeway exit with Yaamava’ Resort & Casino and the San Bernardino Soccer Complex, offering the center maximum exposure as traffic flows to these popular destinations.