Property for Sale or Lease

LONG TERM BAY AREA STNL INVESTMENT - 8.75% CAP - SKY HIGH SPORTS
1631 CHALLENGE DRIVE CONCORD, CA 94520
HIGHLIGHTS

 

• SF Bay Area STNL (NNN) 15 year NNN Lease
• 8.75% cap - Priced to Sell
• Price $7,405,714
• 14 Years remaining: LED 04/30/2032
• NOI (2018) $648,000
• Rent Increases 05/2022 & 5/2027
• Tenant committed to location, occupied in 2010, renewed 2017 for 15 years
• 8 California locations
• Operate in 5 other states
• Building Size: +24,000 square feet (blt. 1972 ren 2010)
• Lot Size: 1.46 Acres/ +63,597 square feet
 

A rare opportunity to own a centrally located, San Francisco East Bay Single Tenant NNN leased warehouse on a long-term commitment to Sky High Sports Concord, LLC for 15 years. The orig-inal lease commenced March 1, 2010 and a new lease was signed May 1st, 2017 to April 30th, 2032 (14 years remaining) with scheduled rent increases on May 1, 2022 and May 1, 2027. • Sky High is committed to the location and the marketplace which is evidenced by their new fifteen (15) year lease commitment. • Sky High Sports initially occupied the property in 2010 and is enjoying their eighth (8th) year of occupancy. • Sky High Sports has eight (8) locations in California and is located in five (5) other states in the US. • The Lease is Guaranteed by Sky High Sports Concord Operations LLC • Sky High Sports has a Right of First Refusal to purchase the property with a fifteen (15) day response timeline. According to Environics Analytics the target market for Sky High cliental, children between the ages of 5-20, is comprised of 94,474 children. Their nearest competitors are more than 17 miles away in Brentwood and Pleasanton. • Within a ten (10) mile radius of the Subject Property there are ninety eight (98) Middle and Elementary schools for Sky High to draw from.

Brochure: 
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Contact Information
phone: (925) 627-6027
Offer Valid: February 1, 2019February 1, 2020
Commercial Brokers Association