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24991 Alessandro Blvd 16,602 SF Retail Building Moreno Valley, CA 92553 $6,500,000 ($391.52/SF) 5.23% Cap Rate
INVESTMENT HIGHLIGHTS
- Could possibly be delivered vacant for owner user or redevelopment
- Strong Retail Corridor - Adjacent properties include Smart and Final Extra!, Starbucks, and Ross
- Outparcel to Sunnymead Towne Center - Anchored by El Super Supermarket
- 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
Berkshire Hathaway HomeServices Golden Properties is proud to offer an exclusive listing for the 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. 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. 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
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,602 SF
Building Class
C
Year Built
1998
Price
$6,500,000
Price Per SF
$391.52
Cap Rate
5.23%
NOI
$339,813
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.66 AC
Zoning
CC - Commercial Mixed Use
Parking
69 Spaces (4.16 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 482-540-029 | Improvements Assessment | $1,453,267 |
| Land Assessment | $2,620,151 | Total Assessment | $4,073,418 |
PROPERTY TAXES
Parcel Number
482-540-029
Land Assessment
$2,620,151
Improvements Assessment
$1,453,267
Total Assessment
$4,073,418
CONTACTS
-
Ohanes 'Hovig' Dimejian CCIM -
Shant Dimijian -
Berkshire Hathaway Home Services Golden Properties
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24991 Alessandro Blvd
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