Cap Rate
4.75%
Price Per SF
$823
Leasable Area
3,303 SF
NOI
$108,684
Property Type
Shopping Centers
INVESTMENT HIGHLIGHTS
- The Mills at Cortez is secured by two, long-term absolute net leases with annual rent escalations of hedge against inflation. (which assumes 7-Eleven renews)
- 8.2% increase in the rental income by 4/1/24 (assumes 7-Eleven Renewal)
- Corporate-guaranteed 7-Eleven with 15+ year operating history at location. (Currently in First Option)
- Barber Craft recently executed a new 5-Year lease with 2, Three-Year Options showing further commitment to site.
- Prime downtown location positioned immediately between the I-5, 163 and 94 freeways and accessible by foot traffic by surrounding neighborhoods such as Bankers Hill and Little Italy.
Broker of Record
- David Harrington
- License No. 02168060 (CA)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 2321 Rosecrans Ave.,
Suite 1225, El Segundo, CA 90245