485 Melrose Dr Vista, CA 92083

Property Details for 485 Melrose Dr

Year built

1990

Lot size

0.22 lot acres

Property size

1,050 SF

Zone code

COMMERCIAL

Property type

Gas stations

APN

163-470-10-00

APU

1634701000

Description

This exceptional investment opportunity presents a 1,055 square foot 76 Gas Station located at 485 N Melrose Dr, Vista, CA 92083. Boasting a 5.24% cap rate and a substantial NOI of $110,017, this property offers a secure, passive income stream. The property features four gas pumps and benefits from a prime location at a signalized intersection with high daily traffic counts (38,896 vehicles). The Absolute NNN lease with a corporate guarantee provides zero landlord responsibilities, and the current lease term extends to June 29, 2034, with three 5-year renewal options. Rent increases of 7.5% are built into the lease every five years, ensuring consistent growth in income. Built in 1990, this single-story building sits on a 0.22-acre lot and is surrounded by national tenants like Starbucks and Chili's, along with key community amenities. The 5-mile trade area boasts a population of 141,862 with an average household income of $123,203. Vista, CA, is a thriving city in San Diego County, known for its healthcare, biotechnology, and attractions. This property is ideally situated approximately 34 miles from San Diego and 40 miles from Chula Vista. The asking price is $2,100,000, representing a price per square foot of $1,990.52. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term potential.

Location Insight

City

Vista

County

San Diego

State

California

Longitude

-117.254

Latitude

33.2044

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments