Restaurant
Richie's Real American Diner
40651 Murrieta Hot Springs Rd, Murrieta, CA 92562
Listing Price: $3,950,000
Investment Overview
Marcus & Millichap Commercial Real Estate Company is pleased to exclusively present an absolute NNN investment opportunity located at 40651 Murrieta Hot Springs Road in Murrieta, California.
This well-known regional tenant, Richie’s Real American Diner, has occupied said building since being built-to-suit in year 2005. The lease in-place has no landlord responsibilities and there is approximately ±9
years and 8 months remaining on the original term with four-5-year options to renew. The tenant has historically strong and consistent sales, hence there is a very low rent to sales ratio (please contact listing
team for further information on sales figures). Richie’s Real American Diner is situated in the Murrieta Pointe Shopping Center, with other tenants including Starbucks, Pacific Premier Bank, T-Mobile, and various other retail, medical/dental practices. Situated on a corner lot, the property has excellent street exposure on Murrieta Hot Springs Rd, with ±48,790 vehicles per day and is within two blocks of the I-215 and 1-15 on/off -ramps.
Richie’s Real American Diner and the shopping center is located directly across from the highly anticipated Golden Triangle Lifestyle development which will consist of ±1.7 million square feet of hotel, office, retail and entertainment attractions. Anticipated construction is estimated to start in the next 2
to 3 years.
Richie's Real American Diner
Investment Highlights
- Offered at a 6.37% CAP Rate with Next Increase on April 1, 2030 – Cap Rate of 7.01%
- Absolute NNN Lease with No Landlord Responsibilities; Very Low Rent to Sales Ratio with Historically Strong & Consistent Sales, Please Contact Listing Agents for Further Information
- ±9 Years and 8 Months Remaining on the Initial Term of the Lease
- ±20 Years of Site History with the Original Tenant, Built to Suit in Year 2005
- Excellent Street Exposure on Murrieta Hot Springs Rd with ±48,790 Vehicles per Day
- Desirable Demographics with an Average Household Income of $123,394 and Population of 186,716 in a 5-Mile Radius
- Ideally Situated in Riverside County's most Desirable and Growing Areas over the Past Decade
- Fee Simple Offering (Building and Land); Situated 2 blocks from the Interstate 215 and Interstate 15 Freeway On/Off-Ramps
Exclusively Listed By
Listing Price: $3,950,000
Investment Highlights
- Offered at a 6.37% CAP Rate with Next Increase on April 1, 2030 – Cap Rate of 7.01%
- Absolute NNN Lease with No Landlord Responsibilities; Very Low Rent to Sales Ratio with Historically Strong & Consistent Sales, Please Contact Listing Agents for Further Information
- ±9 Years and 8 Months Remaining on the Initial Term of the Lease
- ±20 Years of Site History with the Original Tenant, Built to Suit in Year 2005
- Excellent Street Exposure on Murrieta Hot Springs Rd with ±48,790 Vehicles per Day
- Desirable Demographics with an Average Household Income of $123,394 and Population of 186,716 in a 5-Mile Radius
- Ideally Situated in Riverside County's most Desirable and Growing Areas over the Past Decade
- Fee Simple Offering (Building and Land); Situated 2 blocks from the Interstate 215 and Interstate 15 Freeway On/Off-Ramps
Investment Overview
Marcus & Millichap Commercial Real Estate Company is pleased to exclusively present an absolute NNN investment opportunity located at 40651 Murrieta Hot Springs Road in Murrieta, California. This well-known regional tenant, Richie’s Real American Diner, has occupied said building since being built-to-suit in year 2005. The lease in-place has no landlord responsibilities and there is approximately ±9 years and 8 months remaining on the original term with four-5-year options to renew. The tenant has historically strong and consistent sales, hence there is a very low rent to sales ratio (please contact listing team for further information on sales figures). Richie’s Real American Diner is situated in the Murrieta Pointe Shopping Center, with other tenants including Starbucks, Pacific Premier Bank, T-Mobile, and various other retail, medical/dental practices. Situated on a corner lot, the property has excellent street exposure on Murrieta Hot Springs Rd, with ±48,790 vehicles per day and is within two blocks of the I-215 and 1-15 on/off -ramps. Richie’s Real American Diner and the shopping center is located directly across from the highly anticipated Golden Triangle Lifestyle development which will consist of ±1.7 million square feet of hotel, office, retail and entertainment attractions. Anticipated construction is estimated to start in the next 2 to 3 years.
Exclusively Listed By
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