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Cardenas & Shops 3251-3333 W Ramsey st 40,812 SF 100% Leased Retail Building Banning, CA 92220 $6,078,000 ($148.93/SF) 8.46% Cap Rate
Investment Highlights
- Southern California Grocery Anchored Center
- Below-Market In-Place Rents – Current rents across the shop component are below prevailing market levels
- Neighborhood Grocery Center & Commuter Pit-Stop Destination – Strategically located on the I-10 Freeway
- Additional 2.8 Acres of Developable Land
- Favorable Site Coverage & Parking – Traditional grocery center layout with strong parking ratios
Executive Summary
* Southern California Grocery Anchored Center - The subject property anchored by Cardenas Markets, alonside Dollar Tree (NAP), Harbor Freight (NAP) and AutoZone (NAP), represents a rare opportunity to acquire a highly functional grocery-anchored retail asset with adjacent shop space in a supply-constrained Inland Empire trade area.
* Additional 2.8 Acres of Developable Land – Three separate parcels, located immediately adjacent and in front of Cardenas Market, available for immediate ground lease or build to suit.
* Below-Market In-Place Rents – Current rents across the shop component are below prevailing market levels, providing meaningful mark-to-market upside through lease roll, renewals, and re-tenanting.
* Favorable Site Coverage & Parking – Traditional grocery center layout with strong parking ratios, efficient ingress/egress, and a front-loaded parking field that supports high peak-hour demand.
* Neighborhood Grocery Center & Commuter Pit-Stop Destination – Strategically located on the I-10 Freeway along the primary route between LA/OC and Palm Springs, Stagecoach Plaza meets the needs of the surrounding Banning community and also serves as a convenient commuter stop
* Additional 2.8 Acres of Developable Land – Three separate parcels, located immediately adjacent and in front of Cardenas Market, available for immediate ground lease or build to suit.
* Below-Market In-Place Rents – Current rents across the shop component are below prevailing market levels, providing meaningful mark-to-market upside through lease roll, renewals, and re-tenanting.
* Favorable Site Coverage & Parking – Traditional grocery center layout with strong parking ratios, efficient ingress/egress, and a front-loaded parking field that supports high peak-hour demand.
* Neighborhood Grocery Center & Commuter Pit-Stop Destination – Strategically located on the I-10 Freeway along the primary route between LA/OC and Palm Springs, Stagecoach Plaza meets the needs of the surrounding Banning community and also serves as a convenient commuter stop
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
40,812 SF
Building Class
B
Year Built
1972
Price
$6,078,000
Price Per SF
$148.93
Cap Rate
8.46%
NOI
$514,274
Percent Leased
100%
Building Height
1 Story
Building FAR
0.64
Lot Size
1.47 AC
Zoning
GC-General Commercial - Retail Trade
Amenities
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,326,454 | |
| Land Assessment | $2,336,967 | Total Assessment | $3,663,421 |
Property Taxes
Parcel Numbers
Land Assessment
$2,336,967
Improvements Assessment
$1,326,454
Total Assessment
$3,663,421
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Cardenas & Shops | 3251-3333 W Ramsey st
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