1251 Sanderson Ave Hemet, CA 92545

Property Details for 1251 Sanderson Ave

Year built

2023

Construction

WOOD

Lot size

1.09 lot acres

Property size

2,568 SF

Zone code

SP001

Property type

Drive through restaurants

APN

460-250-016

APU

460250016

Description

This exceptional investment opportunity presents a 3,000 square foot, single-tenant, absolute NNN ground lease property occupied by Dave's Hot Chicken. Located at 1251 S Sanderson Ave, Hemet, CA 92545, this 2023-built building sits on a 47,605 square foot lot and boasts a 20-year lease commencing March 6, 2023, and expiring February 28, 2043, with three five-year renewal options. The lease includes a 10% rent increase every five years, ensuring consistent income growth. The property benefits from a prime location in a high-traffic retail corridor exceeding 20,000 vehicles daily, offering excellent visibility and accessibility. It's situated as an outparcel to a Walmart-anchored Page Plaza shopping center, providing a strong national tenant presence and drawing from a robust demographic base within a 5-mile radius. The property's Net Operating Income (NOI) is $82,500, resulting in a 4.75% cap rate and a price per square foot of $578.95. The land value is $36.48 per square foot. This rapidly growing area features significant industrial, retail, and housing developments, promising continued appreciation. The property's APN is 460-250-016. This is a rare opportunity to acquire a long-term, stable, high-return investment in a thriving market.

Location Insight

City

Hemet

County

Riverside

State

California

Longitude

-117.007

Latitude

33.7259

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments