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405-457 S Citrus Ave
Covina, CA 91723
Citrus Town Center · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Grocery Anchored Retail Center with Near Term Upside
- MTM Leases Provide Immediate NOI Growth Opportunity
- Highly Dense Trade Area with Abundant Rooftops Surrounding the Property
- Neighborhood Retail Center With Strong Fundamentals
EXECUTIVE SUMMARY
JLL has been exclusively retained to offer qualified investors the opportunity to acquire Citrus Town Center, a 57,617 square foot grocery-anchored retail center located in Covina, CA. Anchored by Baja Ranch Market and featuring established tenants including Del Taco, Avis Budget, Pizza Chalet, and Millie’s Restaurant, the property offers immediate value creation opportunities through many existing tenants currently on month-to-month lease structures and current occupancy of 87.5%.
With frontage along Citrus Avenue and Rowland Street, abundant parking, and strong demographics surrounding the property, Citrus Town Center presents a unique investment opportunity. The property’s grocery anchor and daily needs tenant mix surrounded by over 179,000 people within a 3 mile radius presents a stable cashflow for a well located infill asset in the San Gabriel Valley.
With frontage along Citrus Avenue and Rowland Street, abundant parking, and strong demographics surrounding the property, Citrus Town Center presents a unique investment opportunity. The property’s grocery anchor and daily needs tenant mix surrounded by over 179,000 people within a 3 mile radius presents a stable cashflow for a well located infill asset in the San Gabriel Valley.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
57,617 SF
Building Class
B
Year Built
1978
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
5.20 AC
Parking
278 Spaces (4.82 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Freeway Visibility
- Restaurant
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 8444-021-005 | Improvements Assessment | $6,182,435 |
| Land Assessment | $9,447,215 | Total Assessment | $15,629,650 |
PROPERTY TAXES
Parcel Number
8444-021-005
Land Assessment
$9,447,215
Improvements Assessment
$6,182,435
Total Assessment
$15,629,650
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