Carvana Car Dealership Property in San Diego Hits the Market - Brand New Construction!
This ad is marked as Sold
Description: |
|
| SOLD, SOLD, SOLD .. was listed for $32,727,000 SRS National Net Lease Group is bringing to market an investment opportunity in San Diego, California. It's an absolute triple net (NNN) lease property leased to Carvana (NYSE - CVNA), a well-established, publicly-traded used-car retailer. This newly-constructed, corporate-signed investment property offers numerous attractive features that make it an opportunity for passive investors seeking a management-free investment. The asking price for the property is $32.7 million. The subject property, located at 1545 Camino del Rio S, boasts the fee simple interest of a state of the art Carvana facility, encompassing both land and building ownership. The tenant has committed to signing a brand new 20-year lease at the close of escrow, underscoring its long-term dedication to the site. This extended lease term provides investors with stable and predictable cash flow for two decades, further reinforced by annual rental increases of 2 percent. These rental escalations not only ensure the growth of net operating income (NOI) but also serve as a hedge against inflation, safeguarding the investment’s long-term value. The projected net operating income for the new owner is $1.8 million with a 5.5 percent cap rate. CONTACT INFORMATION Patrick Luther MANAGING PRINCIPAL SRS Real Estate Partners 610 Newport Center Drive Suite 1500 Newport Beach, California 92660 D: 949.698.1115 M: 480.221.4221 Email: patrick.luther@srsre.com AZ License No. BR579712000 CA License No. 01912215 NV License No. S.0169792 |
|
Members profile: |
|
| Advertised by: | Patrick Luther (click here to see full profile) |
| Email: | Email Advertiser |
Ad Details |
|
| Property is | Sold |
| Parking Spaces Outside | 10.85 Spaces per 1,000 SF Leased |
| Auto Use Allowed | Yes |
| Garage Spaces (put 0 if this does not apply) | 50.00 |
| Price Info | SOLD, SOLD, SOLD .. was listed for $32,727,000 |
| Price: | $0 USD |
| Property Types | Car Lot or Building, Showroom, Retail, Vehicle Related |
Size & Value |
|
| Bldg. Size (Sq. Ft.) | 18,440 |
| Price/Sq. Ft. | 1,775 |
| Cap Rate | 5.50% |
| Lot/Parcel Size | 5.62 AC |
| Year Built: | 2023 |
| Zoning | CR 2-1 |
Unique Sale Issues |
|
| Type of Sale | Real Estate Agency Sale |
Location |
|
| Address | 1545 Camino del Rio |
| City | San Diego |
| State | CA |
| Postal Code | 92108 |
| Country | USA |
Call Me! |
|
| Phone | +1.949.698.1115 |
| Cell Phone | +1.480.221.4221 |
| Ad id: | 89584503 |
| Region: | |
| Ad views: | 1514 |