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Restaurant

Wienerschnitzel

82608 U.S. Highway 111, Indio, CA 92201

Listing Price: $2,706,000

Cap Rate
4.00%
Tenant Name
Wienerschnitzel
Years Remaining On Lease
1.4
Gross SF
1,760
Guarantor
Corporate Guarantee
Rentable SF
1,706
Price/Gross SF
$1,537.50
Lease Type
Absolute Net
Rent Per Square Feet
$63.45

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute NNN fee simple Wienerschnitzel drive-thru property located in the densely populated city of Indio, California. Wienerschnitzel has operated at the property since inception for close to 56 years and is currently paying below market rent. The lease is corporate guaranteed with approximately 1.5 years remaining on the initial term and features two five-year extension options. Additionally, the lease features fixed rental increase of two percent per year through the term and options. The property is situated on a hard corner with excellent frontage along the highly traveled United States Highway 111 a major thoroughfare connecting multiple cities throughout the low desert of Riverside County and Coachella Valley. Located directly across from the Riverside County Fairgrounds and the Superior Court of California, Riverside County a primary jury duty location for the Coachella Valley. The site also benefits from over 24,000 vehicles per day. The subject location is ranked in the top 10 percent of Wienerschnitzel locations in the Country, the state of California and is ranked number one in a 50-mile radius according to Placer.ai regarding visits. In 2019 the Riverside County Fair received over 1.1 million visitors and is slated to re-open February of 2023. The City of Indio is the largest and fastest growing city in the Coachella Valley and is known as the City of Festivals because of major local events like Coachella, Stagecoach, and many others. The site is located just south of downtown Indio where the College of the Desert East Valley Campus just expanded to 10,000+ students. It is important to note that the site is also just east of the master planned Indio Grand Marketplace which will encompass 31 acres of vibrant, first-class retail and entertainment plus eight acres for residential and hotel uses. Only tow hours’ drive from Downtown Los Angeles Indio has excellent supporting demographics with over 161,000 people in five-mile radius with an average household income of over $88,000. The property is also located in a qualified opportunity zone.

Investment Highlights

  • Ranked Number One Location within Brand in a 50 Mile Radius | Top 10 Percent in the United States and California
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • 1.5 Years Remaining Term | Below Market Rent | Established Brand | Corporate Guarantee
  • Two-Five Year Options | Scheduled Annual Increases | Long Term Occupancy | 56 Year Operating History
  • Excellent Hard Corner Location | Drive-Thru Equipped | Located on Unites States Highway 111 with Over 24,000 Vehicles Per Day
  • SoCal Real Estate | Essential Use | High Barrier to Entry Market | Qualified Opportunity Zone
  • Directly Across from Riverside County Fairgrounds | Over 1.1 million Visitors in 2019 | Slated to Open February 2023
  • Strong Supporting Demographics Five-Mile Radius | Over 161,000 People and Average Household Income of $88,000

Exclusively Listed By

Financing By

Restaurant

Wienerschnitzel

Listing Price: $2,706,000

Cap Rate
4.00%
Tenant Name
Wienerschnitzel
Years Remaining On Lease
1.4
Gross SF
1,760
Guarantor
Corporate Guarantee
Rentable SF
1,706
Price/Gross SF
$1,537.50
Lease Type
Absolute Net
Rent Per Square Feet
$63.45

Investment Highlights

  • Ranked Number One Location within Brand in a 50 Mile Radius | Top 10 Percent in the United States and California
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • 1.5 Years Remaining Term | Below Market Rent | Established Brand | Corporate Guarantee
  • Two-Five Year Options | Scheduled Annual Increases | Long Term Occupancy | 56 Year Operating History
  • Excellent Hard Corner Location | Drive-Thru Equipped | Located on Unites States Highway 111 with Over 24,000 Vehicles Per Day
  • SoCal Real Estate | Essential Use | High Barrier to Entry Market | Qualified Opportunity Zone
  • Directly Across from Riverside County Fairgrounds | Over 1.1 million Visitors in 2019 | Slated to Open February 2023
  • Strong Supporting Demographics Five-Mile Radius | Over 161,000 People and Average Household Income of $88,000

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute NNN fee simple Wienerschnitzel drive-thru property located in the densely populated city of Indio, California. Wienerschnitzel has operated at the property since inception for close to 56 years and is currently paying below market rent. The lease is corporate guaranteed with approximately 1.5 years remaining on the initial term and features two five-year extension options. Additionally, the lease features fixed rental increase of two percent per year through the term and options. The property is situated on a hard corner with excellent frontage along the highly traveled United States Highway 111 a major thoroughfare connecting multiple cities throughout the low desert of Riverside County and Coachella Valley. Located directly across from the Riverside County Fairgrounds and the Superior Court of California, Riverside County a primary jury duty location for the Coachella Valley. The site also benefits from over 24,000 vehicles per day. The subject location is ranked in the top 10 percent of Wienerschnitzel locations in the Country, the state of California and is ranked number one in a 50-mile radius according to Placer.ai regarding visits. In 2019 the Riverside County Fair received over 1.1 million visitors and is slated to re-open February of 2023. The City of Indio is the largest and fastest growing city in the Coachella Valley and is known as the City of Festivals because of major local events like Coachella, Stagecoach, and many others. The site is located just south of downtown Indio where the College of the Desert East Valley Campus just expanded to 10,000+ students. It is important to note that the site is also just east of the master planned Indio Grand Marketplace which will encompass 31 acres of vibrant, first-class retail and entertainment plus eight acres for residential and hotel uses. Only tow hours’ drive from Downtown Los Angeles Indio has excellent supporting demographics with over 161,000 people in five-mile radius with an average household income of over $88,000. The property is also located in a qualified opportunity zone.

Exclusively Listed By

Financing By

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