Investment Highlights
Trust Sale. No Court confirmation required
Tenant is Krispy Kreme, with current lease term until Oct. 31, 2029.
Starting CAP rate of 5.00% effective Nov. 1, 2024, when the monthly NNN base rent will be $20,743.32
Prime commercial NNN property on a ground lease in a highly sought-after Leimert Park
South-East corner of the signalized intersection of Crenshaw Blvd. & Martin Luther King Jr. Blvd.
Tenant has 2 additional 5-year options to extend beyond Oct. 2029, with annual CPI increases
Executive Summary
Trust Sale. No Court confirmation required. Rare opportunity to acquire a prime commercial NNN property on a ground lease in highly sought-after Leimert Park. First time for sale, since subject property was developed in 2001. 21,877 sq. ft. (=0.5 acres) lot, zoned LAC2, on the south-east signalized corner of Crenshaw Blvd. & Martin Luther King Jr. Blvd. Tenant is Krispy Kreme, with current lease term until Oct. 31, 2029. Tenant has 2 additional 5-year options to extend beyond Oct. 2029, with annual CPI increases. Starting CAP rate of 5.00% effective Nov. 1, 2024, when the monthly NNN base rent will be $20,743.32. Annual CPI increases with minimum 2.00% effective Nov. 1, 2025. Seller is an independent Trustee, and cannot make any representations as to the condition, history of the subject property. Sold AS IS and WHERE IS. Buyer to conduct their own investigations. Deadline to submit offers is by 5:00pm on Monday, June 24, 2024.
