9670 Trask Ave
Garden Grove, CA 92844
Toyota Place of Garden Grove · Retail Property For Sale

CBRE is pleased to exclusively offer for sale Toyota Place of Garden Grove, an 82,408 square foot Toyota automotive dealership on 7.0 acres in the City of Garden Grove, California. Located at 9444 and 9670 Trask Avenue in the heart of Orange County, Toyota’s NNN lease has over 9 years remaining on the initial term and one 9-year option to extend. The lease has no Landlord responsibilities. The lease features attractive rent increases every three years pegged to CPI with a minimum increase of 3.0% and a maximum increase of 9.0% at each increase. The next rent increase is on April 19, 2019. In addition, the dealership has excellent performance history (available upon request). Furthermore, the lease has certain financial covenants including a required debt service coverage ratio and Tenant and Guarantor minimum net worth requirements, ensuring that the Landlord enjoys security and complete transparency in the performance of the dealership throughout the term. The property is ideally located within the Garden Grove Auto Mall with high visibility along the 22 Freeway, which boasts a daily traffic count of over 205,000 vehicles. The property benefits from approximately 2,100 feet of frontage on the 22 Freeway and Trask Avenue and is situated at a central location in the Garden Grove Auto Mall, a destination auto center which includes Nissan, Hyundai, Chevrolet and Volkswagen dealerships. Heavy traffic, high visibility and synergistic neighboring properties ensure the long-term viability of the site. The dealership also benefits from a dense infill demographic base with more than 784,512 residents, 2,187,250 residents and 3,707,693 residents within a 5, 10 and 15-mile radius of the site, respectively. Additionally, the average annual household income within a 5-mile radius of the property is more than $81,000. This sale represents a unique opportunity for an investor to acquire a property with a long-term NNN lease with no additional Landlord responsibilities, predictable rental rate with regular escalations and full occupancy. Additionally, the property consists of three buildings on two divisible parcels offering alternative opportunities. The property is extremely well-located within a predominant automotive corridor with prominent freeway visibility providing strong residual value and flexibility in the future. This is a passive investment for purchasers.