3654-3694 E Highland Ave
Highland, CA 92346
Highlands Star Plaza · Retail Property For Sale

Marcus & Millichap Real Estate Investment Services is pleased to present the Highlands Star Plaza located in Highland, California. This investment provides an opportunity for an investor to acquire a value-added retail & commercial property with an ideal central location within the Inland Empire. A new purchaser will be acquiring this value-added asset well below replacement costs. This value-added asset will give he new ownership the ability to re-position the property through leasing the vacant units, implementing expense reimbursement and better management. Highlands Star Plaza offers a below- replacement offering price of $129.59/square foot and an actual existing capitalization rate of 4.60% on only 75% occupancy and very little CAM collection. Lease the property to 90% occupancy and collect only $0.15/square foot in expense reimbursements, the proforma capitalization rate will be 7.5%. Highlands Star Plaza features excellent street frontage and a monument sign on Highland Avenue. The property consists of two buildings and a drive-thru, free-standing restaurant pad building. The property is anchored by First Step Independent Living occupying 8,000 square feet and the restaurant pad & drivethru, Cuca’s Mexican Restaurant. All of the buildings are on two parcels of fee land totaling 4.01 acres. Highlands Star Plaza features attractive Spanish construction with an attractive modern architectural design. The plaza is well-parked offering easy access to all of the suites and the building also have fire sprinklers. Located on the main thoroughfare in the City of Highland, Highland Avenue draws many consumers with its immediate access to Interstate 210 from both the east and the west of the subject property. To the east a Walmart/Ross anchored center; to the west is the Patton State Hospital & San Manuel Casino and directly across Highland Avenue is a Stater Bros. anchored center.