Current Use by Public Records
- Retail properties & Spaces
Property Details for 899 Spring St
- Year built
- 2013
- Lot size
- 0.74 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 5,500 square foot Applebee's restaurant located at 899 E Spring St, Signal Hill, CA 90755. The property is situated on a 0.74-acre lot and benefits from a strong, national tenant with a proven track record. This is an absolute NNN ground lease with 8.9 years remaining on a 20.1-year term, expiring October 31, 2033, and featuring 10% rent bumps every five years. The property boasts a 4.50% cap rate and a current NOI of $145,200, with an asking price of $3,227,000 ($586.73/sq ft). Built in 2013, this single-building property is 100% occupied and enjoys a highly desirable location as an outparcel to a Home Depot-anchored community center, offering excellent visibility and accessibility. The property benefits from its proximity to Interstate 405 (one of California's busiest freeways), Long Beach International Airport, and Memorial Care Long Beach Medical Center. The surrounding area features a strong demographic profile, with over 271,500 residents and 13,000 businesses within a three-mile radius. Co-tenants include prominent retailers such as Ross, Petco, Dollar Tree, In-n-Out, Starbucks, Jack in the Box, T-Mobile, and Bank of America. This Applebee's location is reportedly the top-performing restaurant in the state of California. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime Southern California location.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Signal Hill
- County
- Los Angeles
- State
- California
- Longitude
- -118.182
- Latitude
- 33.8121
