701 E HUNTINGTON Dr, Monrovia, CA 91016

Property Description

701 Huntington Drive, a rare NNN retail investment opportunity located on the hard, signalized corner of Huntington Dr & Shamrock Ave in the city of Monrovia. Currently occupied by Church's Chicken, this can be either a value-add or long-term investment opportunity; the current lease expiration is December 2024 with two ten-year options to extend. This is a passive investment as the tenant is responsible for property taxes, insurance, and expenses; current rent is $57,960 annually with fixed 1.5% annual rent increases for the remainder of the lease term as well as the option periods. Leased and guaranteed by a Church's Chicken corporate franchisor, Cajun Realty LLC, if the tenant extends the lease, there is long-term investment opportunity with fixed increases annually to hedge against inflation. If the tenant vacates at the expiration of the lease term, there will be a great value-add opportunity to rebrand the property and secure a quality tenant at market rent. This is a rare opportunity to purchase a quality Southern California corner location under a $2 MM price point. The property consists of a 20,673 SF parcel of land improved with 1,320 SF of quick food service with a drive-thru window. A highly desirable retail location with immediate retail synergy with the adjacent shopping center that includes national tenants such as 24-Hour Fitness, Ulta Beauty, Aldi, HomeGoods, O'Reilly Auto Parts, TJ Maxx, and Michael's. Other restaurant tenant's joining Church's Chicken on nearby pad sites include: Taco Bell, The Coffee Bean, McDonalds, Sonic Drive-In, Original Tommy's, Wienerschnitzel, Yoshinoya and Starbucks. In addition to retail, the subject property is ideally located within a highly dense residential neighborhood and is surrounded by millions of square feet of office and industrial assets.