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10944 South Street
Cerritos, CA 90703

Price: $6,800,000 Tenant: Cerritos Mitsubushi
Bldg SF: 16,116 SF Price/SF: $422
Land SF: 85,309 SF CAP Rate: 4.06%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Price: $6,800,000
Bldg SF: 16,116 SF
Land SF: 85,309 SF
CAP Rate: 4.06%
Price/SF: $422
Property Type: Retail/Office
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Investment Highlights

Excellent Single Tenant Net Leased Opportunity

 

  • The property is 100% leased to Cerritos Mitsubishi on a Triple Net basis through February of 2032, with one ten-year option remaining
  • The tenant has a scheduled rental increase in February of 2022 to $25,000 per month (plus NNN expenses)
  • Cerritos Mitsubishi is one of three dealerships under the umbrella of Mitsubishi Super Stores, a family-owned business which has been operating for twenty years
  • Mitsubishi Super Stores feature locations in Cerritos, Costa Mesa, and Victorville

 

Ideally Located within Cerritos Auto Square

 

  • The property is located within Cerritos Auto Square, the world’s largest auto mall
  • Cerritos Auto Square features 22 dealerships located within the half mile strip of Studebaker Road between South Street on the South (including 10944 South Street) and the San Gabriel Freeway (I-605 Freeway) to the North
  • In 2019 the successful auto mall sold a total of 55,380 vehicles

 

Strong Location for an Auto Dealership

 

  • The property’s location within the Cerritos Auto Square and close proximity to the highly trafficked San Gabriel River Freeway make this an excellent location for an Auto Dealership
  • 10944 South Street is located just off of the highly trafficked intersection of South Street and Studebaker Road, with 295 feet of frontage on South Street and 120 feet of frontage on Studebaker Road
  • The subject property features access from both South Street and Studebaker Road
  • Direct Freeway Access