2503 Pico Blvd, Los Angeles, CA 90006
371 SF | Retail Building | Los Angeles, CA 90006 | $5,200,000 ($14,016/SF) | 5.25% Cap Rate
For Sale
Active
Asking Price $5,200,000
- Property Type
-
Retail
- Square Feet
- 371 SF
- Price / Square Foot
- $14,016
Listing Contacts
Christopher Bosworth
Thomas Carr
Brian Pfohl
Leah Lindell
Kaitlyn Wolf
Abby Kelly
Brian Yoshimura
Joel Wilson
Ryan Gurman
- Property Info
Property Overview
CBRE is pleased to offer for sale the United Pacific Portfolio, which is comprised of 4 sites across California. With an average operating history of 51 years, the sites are subject to a ±10-year absolute NNN lease with a rental increase of 7.50% in July 2029 and in each of the options (3 x 5-year options).
Each of the sites are well-positioned with excellent access and visibility throughout three major California markets (Los Angeles, Riverside & San Diego). The offering provides investors an opportunity to acquire well-established gas station sites with barriers to entry for competitors and strong underlying intrinsic value. The offering also provides investors the benefit of fee simple ownership of the building and land, allowing for the potential benefits of bonus depreciation.
Headquartered in Long Beach, California, CF United LLC operates 511 retail gas stations under the brands of Rocket, United Oil or United Pacific in California, Colorado, Nevada, Oregon and Washington. The majority of the company’s operations are conducted through its wholly owned subsidiary, Apro LLC (Tenant).
The properties are being offered individually or as a portfolio.
Each of the sites are well-positioned with excellent access and visibility throughout three major California markets (Los Angeles, Riverside & San Diego). The offering provides investors an opportunity to acquire well-established gas station sites with barriers to entry for competitors and strong underlying intrinsic value. The offering also provides investors the benefit of fee simple ownership of the building and land, allowing for the potential benefits of bonus depreciation.
Headquartered in Long Beach, California, CF United LLC operates 511 retail gas stations under the brands of Rocket, United Oil or United Pacific in California, Colorado, Nevada, Oregon and Washington. The majority of the company’s operations are conducted through its wholly owned subsidiary, Apro LLC (Tenant).
The properties are being offered individually or as a portfolio.
Property Details
- Year Built
- 1972
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Service
- Lot Size (sq. ft)
- 13,068 SF
Highlights
- Business Not For Sale
- Strong Tenant | 511 Retail Gas Stations Under the Brands of Rocket, United Oil or United Pacific in CA, CO, NV, OR & WA
- Absolute NNN Lease | Zero Landlord Obligations | Rental Increase of 7.50% in July 2029 & in Each of the Three, 5-Year Renewal Options
- Irreplaceable Los Angeles Location with Barriers to Entry for New Gas Competitors
- Hard Corner Location at Signalized Intersection of W. Pico Blvd (22,326 VPD) & Vermont Ave (40,450 VPD) w/ Direct Access to I-10.
- Part of the Larger United Pacific Portfolio | Available Individually or as a Portfolio
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