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Auto Service - Gas-Conv

Former Circle K with Income

185 W Main St, Calipatria, CA 92233

Listing Price: $400,000

Cap Rate
9.60%
Tenant Name
Circle K
Years Remaining On Lease
0.8
Guarantor
Corporate Guarantee
Rentable SF
3,446
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.14

Investment Overview

The subject property is a single-tenant Circle K convenience store located on West Main Street in Calipatria, California. The existing lease is set to expire on August 31, 2022 at which time the tenant will be vacating the premises. The property is being offered as a redevelopment or owner / user opportunity, with interim income, with direct frontage on this main arterial. The property consists of an approximate 3,446-square foot retail building* situated on approximately 0.26 acres of land*. The existing lease in place is Absolute Triple Net (NNN) and expires August 31, 2022 with monthly rent of $3,200. The tenant has informed the landlord that they will not be exercising any renewal options beyond this date. The community of Calipatria is located in the Northern part of Imperial County with a growing population of 7,800 (which includes a prison population of 4,000). Calipatria has a small town flavor; it is friendly and enjoys a multi-cultural ambience that is enjoyed by all. Located 50 miles North of the Mexico border and a short drive from San Diego, Palm Springs, Los Angeles, and Colorado River, one can enjoy the relative serenity and low cost of small town living while maintaining the option to access urban areas. (source: www.calipatria.com). In terms of economic development, the City of Calipatria is designated as a Federal Enterprise Zone, Enterprise and Champion Community, which offers Federal Tax Credits and low-interest loans to businesses located in Calipatria. The North American Free Trade Agreement (NAFTA) and the Maquiladora operations have created a corridor of opportunity for potential business. Application for Foreign Trade Zone status is pending approval. This would expedite and encourage foreign commerce through small business revolving loan funds and micro-enterprise programs. With access to the Municipal Airport for air freight opportunities, these will allow businesses all available options for transportation: air, Union Pacific Rail, and Highway 111. (source: www.calipatria.com).

Investment Highlights

  • Redevelopment or Owner / User Opportunity
  • Current Lease Expires August 31, 2022 Providing Interim Income
  • Desirable + / - 3,446' square-foot building

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (818) 212-2700

    License(s) CA: 01240999

    California

Auto Service - Gas-Conv

Former Circle K with Income

Listing Price: $400,000

Cap Rate
9.60%
Tenant Name
Circle K
Years Remaining On Lease
0.8
Guarantor
Corporate Guarantee
Rentable SF
3,446
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.14

Investment Highlights

  • Redevelopment or Owner / User Opportunity
  • Current Lease Expires August 31, 2022 Providing Interim Income
  • Desirable + / - 3,446' square-foot building

Investment Overview

The subject property is a single-tenant Circle K convenience store located on West Main Street in Calipatria, California. The existing lease is set to expire on August 31, 2022 at which time the tenant will be vacating the premises. The property is being offered as a redevelopment or owner / user opportunity, with interim income, with direct frontage on this main arterial. The property consists of an approximate 3,446-square foot retail building* situated on approximately 0.26 acres of land*. The existing lease in place is Absolute Triple Net (NNN) and expires August 31, 2022 with monthly rent of $3,200. The tenant has informed the landlord that they will not be exercising any renewal options beyond this date. The community of Calipatria is located in the Northern part of Imperial County with a growing population of 7,800 (which includes a prison population of 4,000). Calipatria has a small town flavor; it is friendly and enjoys a multi-cultural ambience that is enjoyed by all. Located 50 miles North of the Mexico border and a short drive from San Diego, Palm Springs, Los Angeles, and Colorado River, one can enjoy the relative serenity and low cost of small town living while maintaining the option to access urban areas. (source: www.calipatria.com). In terms of economic development, the City of Calipatria is designated as a Federal Enterprise Zone, Enterprise and Champion Community, which offers Federal Tax Credits and low-interest loans to businesses located in Calipatria. The North American Free Trade Agreement (NAFTA) and the Maquiladora operations have created a corridor of opportunity for potential business. Application for Foreign Trade Zone status is pending approval. This would expedite and encourage foreign commerce through small business revolving loan funds and micro-enterprise programs. With access to the Municipal Airport for air freight opportunities, these will allow businesses all available options for transportation: air, Union Pacific Rail, and Highway 111. (source: www.calipatria.com).

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (818) 212-2700

    License(s): CA: 01240999

    California

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