3541 Hamner AveNorco, CA 92860

Property Details for 3541 Hamner Ave

Year built

2023

Construction

WOOD

Lot size

0.70 AC

Property size (Sq ft)

950 SF

Property type

Retail properties

Property subtype

Retail space

APN

131-230-031

APU

131230031

Description

This exceptional investment opportunity presents a brand-new, 2,446 square foot Freddy's Frozen Custard & Steakburgers restaurant in Norco, California. Located at 3541 Hamner Ave, 92860, this Class A property sits on a 21,344 square foot lot and boasts a 20-year absolute NNN lease commencing March 30, 2024, and expiring March 30, 2044. The lease includes six 5-year renewal options with a 10% rent increase every five years, providing a built-in hedge against inflation. The property features 100% occupancy and a strong net operating income (NOI) of $180,000, resulting in a 5.00% cap rate. The asking price is $3,600,000, translating to $1,471.79 per square foot. The tenant, a franchisee, operates multiple locations and provides a strong financial guarantee. The property benefits from a high-traffic location on Hamner Avenue (37,000+ vehicles per day), strong demographics (290,000 residents within a 5-mile radius), and projected annual sales exceeding $3 million. This fee-simple ownership offers a secure, passive income stream with minimal landlord responsibilities. The property's APN is 131-230-027. This is a rare opportunity to acquire a high-performing, established QSR in a desirable location with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $742,530

  6.5%

  $685,412

  7%

  $636,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $916,567

  Geo Method

  $916,567

• Alternative Use

  Use

  Valuation

  Residential

  $578,171

  Hospitality

  $529,601

  Educational

  $440,622

  Medical

  $455,776

  Retail

  $685,412

Location Insight

City

Norco

County

Riverside

State

California

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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