Description
Maher Commercial Realty represented the Buyer of this rare QSR opportunity on the sunny coast of Southern California. The subject property sold at an existing 4.07% cap rate, with one of the strongest KFC operators in the nation. The existing lease had only four years left on it, but MCR was able to work directly with the tenant during escrow to identify extension opportunities, delivering immediate value to our client.
This sale was an upleg to a 1031 exchange in which we represented an apartment building owner. The objective of the exchange was to eliminate the onerous restrictions on owning an apartment building, increase cash-on-cash return, and reduce management responsibly. This was truly a “home-run” purchase for our buyer.
Sale Price: $3,250,000
Building Size: 2,418 Sq.Ft.
Lot Size: 20,908 Sq.Ft.
Price Per Sq.Ft. (Building): $1,344
Price Per Sq.Ft. (Land): $155
Cap Rate: 4.07%
Zoning: C-1
Parking: 20
