Unique retail centers await you

$6,500,000

Description

24991 Alessandro Blvd Moreno Valley, CA 92553 16,602 SF100% Leased Retail Building ($391.52/SF) 5.23% Cap Rate $6,500,000

INVESTMENT HIGHLIGHTS

Outparcel to Sunnymead Towne Center – Anchored by El Super Supermarket
Strong Retail Corridor – Adjacent properties include Smart and Final Extra!, Starbucks, and Ross
Signalized Corner with Heavy Traffic- Average Daily Traffic Count on Alessandro Blvd – 22,100 and on Perris Blvd – 26,200
Minimal Landlord Responsibilities – Roof & Structure Only

EXECUTIVE SUMMARY

Retail building on a signalized corner located at 24991 Alessandro Blvd in Moreno Valley, California. The property consists of 16,602 rentable square feet of building space situated on approximately 1.66 acres of land. Consequently, the Tenant, Absolute Dollar Store, is currently operating under a 5-year NNN Lease set to expire on 04/30/29, with two 5-year options to renew. Therefore, the current NOI (Year 2) is $339,813.07, with a 3% escalation scheduled for year 4, and 5% escalations for each option (plus 3% annual escalations in years 2-5 of each option).

PROPERTY FACTS
Sale Type Investment NNN
Property Type Retail
Property Subtype Freestanding
Building Size 16,602 SF
Building Class C
Year Built 1998
Zoning CC – Commercial Mixed Use Parking
69 Spaces (4.16 Spaces per 1,000 SF Leased)

Price $6,500,000
Price Per SF $391.52
Cap Rate 5.23%
NOI $339,813
Percent Leased 100%
Building Height 1 Story
Building FAR 0.23
Lot Size 1.66 AC