$6,200,000.00

16901 Roscoe Blvd Northridge

INVESTMENT HIGHLIGHTS Single tenancy (100% leased) Circle of Hope; authorized retail business (built out for retail dispensary and cultivation) Current based rent: USD 36,000 / month US House passes SAFE banking act allowing cannabis businesses to work freely with banks Renewal: Two 5 year options with increases. EXECUTIVE SUMMARY Single tenancy (100% leased) Circle of Hope; authorized retail business (built out for retail dispensary and cultivation)
The first lease was 05/01/2016 and they modified on 05/15/2016
Current based rent: USD $36,000 / month Rent schedule is below:
Current to May/14/2021: $36,000/month
First option 5 years
May/15/2021 to May/14/2022: $37,400/month
May/15/2022 to May/14/2023: $38,522/month
May/15/2023 to May/14/2024: $39,677.66/month
May/15/2024 to May/14/2025: $40,867.99/month
May/15/2025 to May/14/2026: $42,094.03/month 2nd option 5 years
May/15/2026 to May/14/2027: $43,777.79/month
May/15/2027 to May/14/2028: $45,528.90/month
May/15/2028 to May/14/2029: $47,350.05/month
May/15/2029 to May/14/2030: $49,244.05/month
May/15/2030 to May/14/2031: $51,213.81/month
US House passes the SAFE banking act allowing cannabis businesses to work freely with banks. So the buyer would have many chances to sell this property with higher-margin Net income Current: USD $36,000 (month) / USD $432,000 (yearly)
May 2021 to 2026: USD $37,400 (month) / USD $448,800 (yearly)
May 2026 to 2031: USD $43,777 (month) / USD $525,324 (yearly)
PROPERTY FACTS Price $6,200,000 Price Per SF $480 Sale Type Investment Cap Rate 7% Property Type Flex Property Subtype Showroom Building Class C Lot Size 0.45 AC Rentable Building Area 12,926 SF No. Stories 1 Year Built/Renovated 1951/2016 Tenancy Single Parking Ratio 0.06/1,000 SF Clear Ceiling Height 15 FT No. Drive-In / Grade-Level Doors 3 Opportunity Zone No Date Created 9/23/2020 AMENITIES Fenced Lot Security System Air Conditioning

Details

Price : $6,200,000.00
Property Type : Retail Property
Purpose : Sale
Status : For Sale
Area : 12926 Sq Ft

Find on Map