Offering Price Icon

 OFFERING
PRICE 
$7,400,000 



 

Cap Rate Icon

 CAP RATE 
(IN PLACE

4.31%

 

Average Cap Rate Icon

 AVG. CAP RATE
(REMAINING LEASE TERM) 
4.89% 



 

Lease Type Icon

 ABSOLUTE NNN 
CORPORATE LEASE 
±15.5 YEARS 



 

PROPERTY HIGHLIGHTS
Address: 10961 & 10967 Santa Monica Blvd, Los Angeles, CA 90025
Tenant/Lessee: JACK IN THE BOX, INC. (CORPORATE LEASE)
Lease Expiration: July 31, 2036 (±15.5 Years Remaining) - 55 Yrs. At This Location
Increases: Twelve (12) % Increases X 5 Yrs.
Leaser Type: Absolute NNN (No Landlord Responsibilities)
Building Area: 2,025 SF
Land Area: 7,894 SF (.18 Acres)
APN: 4324-030-016 & 4324-030-017 
Zoning: {Q} C2-1VL-O
Transit Oriented Communities (TOC): Tier 3 (Greater of 3.75:1 FAR or 50% increase) (Adjacent Property Subsurface
Fault Line Testing - No Issue)
Ownership: Fee Simple
Parking: 10 Stalls (4.94 Stalls / 1,000 SF) + Drive-Thru 
Traffic Counts: ±60,000 VPD (Santa Monica Blvd & Veteran Ave)
 
INVESTMENT HIGHLIGHTS
ABSOLUTE NNN CORPORATE LEASE WITH ±15.5 YEARS REMAINING
The lease expires July 31, 2031 (±15.5 years remaining) and is a true Absolute NNN lease with zero landlord responsibilities.
HIGHLY ATTRACTIVE 1031 TAX FREE EXCHANGE PROPERTY
Established tenancy (55+ yrs) with recent new 20Yr. STNL (15.5 yrs. remaining).
STRONG RENTAL GROWTH: 12 % INCREASES EVERY 5 YEARS 
Jack in the Box has scheduled 12% rental increases every 5 years, providing a strong hedge against inflation. 
EXTREMELY RARE 24-HOUR DRIVE-THRU SITE ON SANTA MONICA BLVD 
The subject is one of two properties located along Santa Monica Boulevard (east of 405 Fwy. to Beverly Hills) with drive-thru. which provides an extra level of ease and convenience for customers. In addition, the property is open 24 hours a day, 7 days a week.
TREMENDOUS HISTORICAL OPERATING HISTORY AND STRONG SALES THROUGH PANDEMIC
Jack in the Box averages over $2.2 M in Gross Sales at the subject property (Over $1000/SF) which is 51% higher than the chain average. The subject location sales held up well through the strictest months of the pandemic shutdowns (no indoor dining), a testament to the drive-thru's value.
FEE SIMPLE OWNERSHIP (DEPRECIATION TAX BENEFIT) 
Fee Simple (Land + Building) ownership structure allows for new buyer to depreciate improvements.

SOLID REAL ESTATE FUNDAMENTALS
The property benefits from a number of strong real estate fundamentals including:
» Signalized corner location on the heavily trafficked Santa Monica Blvd (+/- 66,000 VPD) a major west-east thoroughfare connecting many of LA’s wealthiest areas including: West Los Angeles, Westwood, Century City, Beverly Hills and West Hollywood. 
» Santa Monica Boulevard and Veteran Ave street frontage visibility, multiple property access points and prominent Pylon Signage optimizing the properties premier urban-infill location. 
AFFLUENT URBAN INFILL WESTSIDE (LOS ANGELES) DEMOGRAPHICS
» More than 150,000 residents and 338,000 daytime employees within a two (2) mile radius of the property. 
» Tremendous trade area wealth with an average household income of over $135,000 and average housing value of $1,248,235 within a two (2) mile radius. 
CA BUTTONEWEB BUTTON
INVESTMENT
CONTACTS

DAN RILEY 
Senior Vice President 
Lic. 01057519 
+1 310 363 4899 

dan.riley@cbre.com

AUSTIN WOLITARSKY 
Senior Associate 
Lic. 01957206 
+1 310 363 4922 

austin.wolitarsky@cbre.com

SIMON MATTOX 
Vice President 
Lic. 01732008 
+1 310 796 6229

simon.mattox@cbre.com

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