Listed by Lee & Associates - Riverside
$3,986,000
Two-Tenant Retail Investment
Details
APN 479-030-054
Property Type Retail
Sub Type Shopping Center, Free Standing
Square Footage 6,440
Net Rentable (SqFt) 6,440
Units 2
Cap Rate 5.06%
NOI $199,300
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Broker Co-Op Yes
Year Built 1998
Year Renovated 2015
Buildings 1
Stories 1
Lot Size (SqFt) 13,068
Investment Type Net Lease
Ground Lease No
Ownership Fee Simple (Building + Land)
Sale Condition 1031 exchange
NNN Leases | Signalized Location | National Tenants Anchored
Marketing description
Lee & Associates is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, NNN leased, two-tenant retail investment property in Moreno Valley, California. The property is divided into two suites with Smiles West Dental and Orthodontic and Provisional Accelerated Learning (PAL) Academy. Smiles West has been operating at this location since 2014 and PAL
just recently signed a brand-new lease in July 2021. Both tenants operate under leases which are NNN in nature, limiting expense leakage for a future investor.
The subject property is ideally located at a signalized intersection of Perris Boulevard and Hemlock Avenue(37,000 CPD). The property is easily accessible to and visible from the 60 Freeway (113,900 CPD), providing ease and convenience for customers. The asset is strategically positioned as an out-parcel to CVS/Pharmacy, Bank of America, Dollar Tree and dd’s Discounts anchored shopping center. The asset is in the center of a primary retail corridor with other nearby national/credit tenants including Walgreens, McDonald’s, Food 4 Less, O’Reilly Auto Parts, Starbucks, Taco Bell, Del Taco, Jack in the Box, and more. Moreover, within a 2-mile radius, there are several middle schools and high schools with over 6,600 students. The 5-mile subject trade area is supported by more than 216,000 residents and 113,000 daytime employees with an average household income of $80,000.
Investment highlights
- Strong Tenant Lineup | 100% Occupied | NNN Leases:
- The offering consists of a strong tenant lineup, creating a stabilized, income stream for a new investor
- The property is divided into two suites:
- Smiles West Dental and Orthodontics occupying 3,940 SF with about seven years of primary lease term remaining with one, 5-year option.
- PAL Academy utilizing the remaining 2,500 SF with about three years of primary lease term remaining with two, 5-year options.
- Both tenants operate under leases which are NNN in nature and rental increases, limiting expense leakage for a future investor Strong Anchored Shopping Center with National/Credit Tenants | Dense Retail Corridor :
- The asset is strategically positioned as an out-parcel to CVS/Pharmacy, Bank of America, Dollar Tree and dd’s Discounts anchored shopping center, significantly increasing consumer traffic to the center
- The asset is in the center of a primary retail corridor with other nearby national/credit tenants including Walgreen’s, McDonald’s, Food 4 Less, O’Reilly Auto Parts, Starbucks, Taco Bell, Del Taco, Jack in the Box, and more Signalized Hard-Corner Location | Easily Accessible to and from the 60 Freeway (113,900 CPD):
- The subject property is ideally located at a hard-corner, signalized intersection of Perris Boulevard and Hemlock Avenue with over 37,000 cars per day
- The property is easily accessible to and visible from the 60 Freeway (113,900 cars per day), providing ease and convenience for customers Strong Demographics Trade Area:
- More than 141,000 residents in a 3-mile radius with an Average Household Income of over $74,000
- More than 216,000 residents in a 5-mile radius with an Average Household Income of over $80,000
- Strong daytime population of over 68,000 employees within a 3-mile
Listing Contacts
Listed by Lee & Associates - Riverside
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$199,300.00
$16,608.33/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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Zoning
CC CommercialRetail CommercialCommunity Commercial
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