1098 Enchanted Way Simi Valley, CA 93065
Passive net lease investment with zero landlord responsibilities.
Property size:
2,495 SFProperty Features for 1098 Enchanted Way
General Information
- Size
- 2,495 SF
Building Details
- Year built
- 2008
Source:
Naiglobal
Listing Agent: Gary Seaton
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Del Taco Ground Lease Opportunity
This is a well-seasoned ground lease with 5 years remaining on the initial 20-year term, and includes 3 five-year options to extend. The lease features a 15% rent increase due 1/2028, with 10% increases every 5 years thereafter. It is an absolute NNN ground lease. The location is operated and personally guaranteed by a strong franchisee with 32 units (9 Del Tacos and 23 Papa Johns). This Del Taco location has the highest income of the 4 Del Taco locations in Simi Valley. The property has outstanding frontage along First St. (AKA Auto Center Dr.) and Enchanted Way, directly to and adjacent with eastbound and westbound visibility from the 118 Freeway, which sees more than 94,000/108,000 vehicles per day. It is located at the western entrance to the Simi Town Center, a 600,000 square foot open-air shopping, dining, and entertainment center. The property is located on the southwest hard corner, and is a Del Taco fast food drive-thru. It is located at the gateway to the Auto Center Row (118 Fwy & First St) and adjacent to 5,000,000+ square feet of industrial/office space. This is a rare opportunity to acquire a passive net lease investment with zero landlord responsibilities. The property size is 2495 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Del Taco
Fast Food Restaurant
Location Insight
- Map
- Local Demand
- City
- Simi Valley
- County
- Ventura
- State
- California
- Longitude
- -118.7796394
- Latitude
- 34.2829985
Nearby Similar for Sale
FAQs
What type of property is this?
Drive through restaurant - Passive net lease investment with zero landlord responsibilities.
Where is this drive through restaurant located?
The property is located at 1098 Enchanted Way Simi Valley, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: - Absolute NNN ground lease provides zero landlord responsibilities, offering a truly passive investment.; - Strong franchisee (32 units) personally guarantees the lease, enhancing investment security.; - Prime location with outstanding frontage on First St. and Enchanted Way, adjacent to the 118 Freeway, boasting high visibility.