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Waba Grill & The Buffalo Spot 403 N Pepper Ave 3,500 SF 100% Leased Retail Building Colton, CA 92324 $3,454,000 ($986.86/SF) 5.35% Cap Rate
Investment Highlights
- Two-Tenant Drive-Thru Equipped Pad | Waba Grill (196 Units) | Buffalo Spot (37 Units) | Strong Guaranties
- Signalized Intersection (38,570 VPD) | Right Off Interstate-10 On/Off Ramp (209,000 VPD)
- Strong Demographics in 5-Mile Trade Area | Inland Empire
- Dynamic Retail Destination Colton City Hub Centre | Arco AMPM Gas Station | Next to 100-Room Hotel Development | Strong Real Estate Fundamentals
- Arrowhead Medical Center (456 Beds) | Adjacent to 2 Hotel Developments | Dense Retail Corridor
Executive Summary
• The subject property is a 100% occupied, 2-tenant QSR pad equipped with a drive-thru
• WaBa Grill (Operates 196 Units in 3 States)
• Drive-Thru Equipped which dramatically increases Sales and customer throughput
• 5-years into a 10 year lease with 10% increases every 5-years
• The Buffalo Spot (Operates 37 Units in 2 States)
• End Cap Location with Premier Visibility on N Pepper Ave
• 5-years into a 10 year lease with 10% increases every 5-years
• The property features a 4.6-year weighted average lease term (WALT), reducing near-term rollover risk and providing income stability
• Both leases are NNN in nature and include 2 (5-year) options with 10% rental increases, providing a future investor with a hedge against inflation and limiting the possibility of expense leakage
• WaBa Grill (Operates 196 Units in 3 States)
• Drive-Thru Equipped which dramatically increases Sales and customer throughput
• 5-years into a 10 year lease with 10% increases every 5-years
• The Buffalo Spot (Operates 37 Units in 2 States)
• End Cap Location with Premier Visibility on N Pepper Ave
• 5-years into a 10 year lease with 10% increases every 5-years
• The property features a 4.6-year weighted average lease term (WALT), reducing near-term rollover risk and providing income stability
• Both leases are NNN in nature and include 2 (5-year) options with 10% rental increases, providing a future investor with a hedge against inflation and limiting the possibility of expense leakage
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
3,500 SF
Building Class
C
Year Built
2020
Price
$3,454,000
Price Per SF
$986.86
Cap Rate
5.35%
NOI
$184,794
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
0.63 AC
Opportunity Zone
Yes
Parking
23 Spaces (6.57 Spaces per 1,000 SF Leased)
Frontage
274’ on North Pepper Avenue
Amenities
- Signage
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0254-071-69 | Improvements Assessment | $811,824 |
| Land Assessment | $401,562 | Total Assessment | $1,213,386 |
Property Taxes
Parcel Number
0254-071-69
Land Assessment
$401,562
Improvements Assessment
$811,824
Total Assessment
$1,213,386
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Waba Grill & The Buffalo Spot | 403 N Pepper Ave
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