10220 Paramount Blvd Downey, CA 90241

Property Details for 10220 Paramount Blvd

Year built

1946

Construction

WOOD

Lot size

0.43 lot acres

Property size

7,394 SF

Zone code

DOC3*

Property type

Retail space

APN

6251-030-002

APU

6251030002

Description

This exceptional investment opportunity presents a thriving 7,394 square foot restaurant located at 10220 Paramount Blvd, Downey, CA 90241. The property, situated on a 0.43-acre lot (APN 6257-030-002), boasts a prime corner location at Paramount Blvd and E. Florence Ave, offering excellent visibility and accessibility. Built in 1946, this single-story building currently houses Tropicana Bakery & Cuban Cafe, a well-established business operating since 1999. The property features a Net Net Net (NNN) lease with a current tenant occupancy of 100%, ensuring a stable income stream. The current lease, with a term of 5 years expiring June 30, 2029, includes two additional 5-year options. Annual rent increases are tied to the Consumer Price Index (CPI), with a minimum of 2% and a maximum of 5%. Importantly, the lease structure places no cap on real estate taxes or insurance costs. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $231,544 and a compelling 5.75% capitalization rate. The asking price is $4,026,800. The seller is willing to assist qualified buyers with interest rate credits. The property enjoys convenient access to major freeways, including the Santa Ana (5) Freeway and the 605 Freeway, less than a mile away. This presents a rare opportunity to acquire a well-established, high-performing restaurant property in a desirable location with a strong lease in place.

Location Insight

City

Downey

County

Los Angeles

State

California

Longitude

-118.13

Latitude

33.9528

CBSA code

31080

CBSA name

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

Property Tax & Assessments