Back to Listings »3000 Calle Nuevo, San Clemente, CA

Description:

Cell At Auction LLC is pleased of offer on behalf of Shorecliffs Terrace LLC., the opportunity to acquire a 50-year easement of three individual ground leases in San Clemente, California. The SBA/Sprint initial lease agreement commenced on September 12th , 2005 with Nextel as the anchor tenant. In July 2008, a first amendment was entered into with Sprint with a new initial term of 5 years with five (5) additional 5-year renewal terms. The rent was set at $15,600 annually with 2% annual increases. Current monthly rent $1,741.96. The Verizon site lease started in June 2005 for 5 years with 4 (five) year renewal options. Original rent was $18,000 annually with 3% annual increases. In May 2014, a first amendment was executed for additional land for installation of a generator increasing the monthly rent by $400. Current monthly rent $2,443.99. The AT&T lease started in April 2009 for 5 years with five (5) renewal terms. Initial rent $1500/month with 3% annual increases. Current monthly rent $2,076.35. Offers should be presented in the form of an executable Letter of Intent (LOI). Offers must be presented as the purchase of each site lease individually in order to comply with the ROFR’s. It may take the winning bid up to 60 days to go thru the association approval process. Purchaser shall be required to pay the first $2,500 in Seller’s legal fees. There is a right of first refusal by SBA and AT&T. San Clemente is a city in Orange County, California.

These are some particulars:
Sealed Bid Deadline: April 30, 2021
Current Annual Rent: $75,219.60 (combined)
Location: 3000 CALLE NUEVO, San Clemente, CA 92673
Offered With Reserve
Burton “Bud” Blinick, Licensed Illinois Managing Broker, California Auctioneer Bond # BLCD380983 in Cooperation with Todd Good, California Broker, License # 01165221