3534 Peck Rd El Monte, CA 91731

Property Details for 3534 Peck Rd

Year built

1987

Lot size

3.99 lot acres

Property size

657,210 SF

Zone code

EMR2*

Property type

Parking lots & garages

APN

8567-014-048

APU

8567014048

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 125,974-square-foot Target store located in El Monte, California. The property, built in 2024, sits on an 8.31-acre lot and boasts a 100% occupancy rate with a single tenant, Target, under a triple-net (NNN) lease. The lease commenced October 1, 2023, and has a remaining term of approximately 14.9 years, with four five-year renewal options. The current lease includes 10% rent increases every five years, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $1,763,639, resulting in a 5.00% cap rate. The asking price is $35,272,000, translating to $279.99 per square foot. This prime retail location is situated in a high-income, densely populated area of Los Angeles County, adjacent to major roadways and high-volume car dealerships, including the nation's top-performing dealership. The property's zoning is EMC3, and its location benefits from strong demographics, with average household incomes exceeding $105,000 within a five-mile radius. Target, a credit-rated tenant, is the sixth-largest retailer globally, providing significant investment security. This is a rare opportunity to acquire a state-of-the-art, passively managed retail asset with exceptional long-term growth potential. The property's address is 3534 Peck Rd, El Monte, CA 91731, and its APN is 8567-015-059.

Location Insight

City

El Monte

County

Los Angeles

State

California

Longitude

-118.02

Latitude

34.0706

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments