This exceptional investment opportunity presents a portfolio of three thriving quick-service restaurants (QSRs) in Corona, CA's vibrant Parkridge Plaza. The property encompasses 8,843 square feet on a 2.4-acre lot, featuring Raising Cane's with a double drive-thru, The Habit Burger Grill with a single drive-thru, and Roll-Em-Up Taquitos. Built in 2022, this Class-A retail center boasts a strong NOI of $603,306, yielding a compelling 4.43% cap rate at an asking price of $13,633,000. All three tenants operate under Triple Net (NNN) leases, providing significant investor protection. Raising Cane's operates under a corporate lease, while The Habit Burger Grill's lease is backed by The Habit Burger Restaurants LLC. Roll-Em-Up Taquitos' lease includes personal guarantees from several high-net-worth individuals. The property benefits from a prime location at 840, 860, and 870 N Main St, Corona, CA 92878, within a dense retail corridor near major freeways (I-91 and I-15), boasting high daily traffic counts and proximity to numerous national retailers and substantial residential populations (116,264 within 3 miles, 266,698 within 5 miles). The area also features several large apartment complexes, ensuring a consistent customer base. This strategically located asset offers a compelling combination of strong tenants, high NOI, and significant growth potential within the rapidly expanding Inland Empire economy. The property's APN is 122-061-009, 122-061-012, and 122-061-010.
Highlights
Three QSRs (Raising Cane's, The Habit Burger Grill, Roll-Em-Up Taquitos) in a 2022-built, Class-A retail center.
Strong tenant mix with corporate and personally guaranteed leases; all Triple Net (NNN).
8,843 SF building on a 2.4-acre lot, located at 840, 860, and 870 N Main St, Corona, CA 92878 (APN: 122-061-009, 122-061-012, 122-061-010).
High NOI of $603,306, 4.43% cap rate at $13,633,000 asking price.
Excellent location in a dense retail corridor with high traffic counts (41,700 CPD), near major freeways (I-91 & I-15), and surrounded by national retailers and substantial residential population (116,264 within 3 miles, 266,698 within 5 miles).
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Contacts
Ian Schroeder
Melissa Ley Marshall
David McNevin
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840 Main St, Corona, California, 92878
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840 Main St
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