1390 Main St Barstow, CA 92311

Property Details for 1390 Main St

Year built

1966

Lot size

0.56 lot acres

Property size

2,756 SF

Property type

Retail properties

Property subtype

Gas stations

Description

This exceptional investment opportunity presents a fee-simple ownership (land and building) of a Mobil Gas Station and car wash in Barstow, CA. The property boasts a brand-new 15-year absolute NNN lease with three 5-year renewal options, featuring 10% rent increases every five years. The 2,756 square foot station, built in 1966 and renovated in 2019, sits on a 0.56-acre lot with 12 parking spaces and enjoys 100% occupancy. The property generates a strong NOI of $501,000, resulting in a 6.26% cap rate. Its prime location on E Main Street, a major retail thoroughfare with 50,000 vehicles daily, benefits from proximity to Interstates 15 and 40, and is strategically situated near the Barstow Shopping Center (97,000 sq ft) and other national retailers like Walmart, Stater Bros, and Marshalls. The 5-mile trade area boasts a population exceeding 29,600 with an average household income of $79,181. The property is zoned C-Commercial (APN: 0181-293-04-3001) and offers a management-free investment with significant upside potential due to the built-in rent escalations. This is a credit-rated tenant with a proven track record. The asking price is $8,000,000.