red robin, apple valley (draft)€¦ · red robin (absolute nnn corporate ground lease) investment...
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Red Robin(Absolute NNN Corporate Ground Lease)
INVESTMENT SUMMARY
ADDRESS : 18999 Bear Valley Rd., Apple Valley, CA 92308
PRICE : $ 3,890,000TENANT : Red Robin International, Inc. (corporate lease)
NET OPERATING INCOME : $159,500 (Current), $ 175,450 (2019)
CAP RATE : 4.1 % (Current), 4.5 % (2019)YEAR BUILT : 2009
BUILDING SIZE : 5,766 SF *
LOT SIZE : 1.12 AC *
APN : 0399-271-02-0000
LEASE TYPE: Absolute NNN Ground Lease.
LEASE TERM : 1/8/2009 ~ 1/31/2024 + 3 X 5 Years Option
CURRENT RENT : $ 159,500 /YEAR
RENT INCREASE : 10 % Increase Every 5 years (Next Increase: 2/1/2019)OWNESHIP: Land (Leased Fee)
* per county record.
This information has been secured from sources we believe to be reliable, but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and
bears all risk for any inaccuracy.
INVESTMENT HIGHLIGHTS
� Corporate lease by Red Robin International, Inc.Red Robin Gourmet Burgers, Inc. (NASDAQ: PRGB) is a casual dining restaurant chain that operates through its wholly owned subsidiary, Red Robin International, Inc. under the trade name Red Robin Gourmet Burgers and Brews. As of December 2016, it operated 551 Red Robin restaurants in 44 states and two Canadian provinces.
� Absolute NNN ground lease, No landlord responsibilities.
� Irreplaceable location; located at the entrance to the Jess Ranch Marketplace, dominant power center in the region anchored by Cinemark, Target, WinCo Foods, Best Buy, Bed Bath & Beyond, PetSmart, 99 Cent Only Stores, Burlington Coat Factory, Kirkland’s, Dress Barn, Big 5 Sporting Goods, Staples, etc.
� Newer building; Year built : 2009
� Rent increases 10% in February 2019.
� Tenant improved interior and exterior in 2015; shows tenant’s strong commitment to this location.
James Kwon
Coldwell Banker Best ReaIty
4130 W. Commonwealth Ave.
Fullerton, CA 92833
Phone: 714-451-1784
Email: [email protected]
CA DRE Lic. # : 01739395
This information has been secured from sources we believe to be reliable, but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and
bears all risk for any inaccuracy.
MAPS
This information has been secured from sources we believe to be reliable, but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and
bears all risk for any inaccuracy.