Available $2,870,000 - Retail - Single Tenant
Investment Offering & Highlights
- STNL Panda Express is the dominant Asian food quick serve restaurant concept with over 3.5 billion in revenues
- Bite size Northern California net lease investment opportunity with strong real estate fundamentals
- Hard corner location with drive thru fronting the Park West Place power center and across the street from the entrance to Walmart Supercenter
- Fast casual restaurants projected to experience CAGR of over 12% over next five years (BusinessWire)
- NNN lease with tenant responsible for taxes, insurance and maintenance/repair including roof and structure
- 2019 Sales of $2.08 million
- Health Ratio of 5.75
Property Description
Leased to Panda Express, Inc. for over 6 years expiring October 31, 2026. The rent increases by 10% every five years. There are four 5-year options to extend the lease. The lease is triple net with the tenant responsible for insurance, repairs and maintenance, including roof and structure. Panda Express reimburses Landlord for its pro-rata share of CAM + 10% Admin Fee and taxes. Tenant shall pay Tenant’s Proportionate Share of such Real Estate Taxes Directly to Landlord.
This property is being offered along with a multi-tenant PAD and three other neighboring NNN retail properties, Lowe’s, Sonic, and AutoZone. The properties can be acquired individually or as a portfolio. Please use the following links to access the neighboring properties:
Lowe’s – $15,120,000
Sonic– $2,330,000
AutoZone – $1,500,000
Multi-Tenant PAD – Best Offer
Please use the following link to access the full OM: https://www.crexi.com/properties/503751/california-panda-express—stockton-ca