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The Home Depot: Corona, CA 490 N McKinley St 100,000 SF Retail Building Corona, CA 92879 $29,906,542 ($299.07/SF) 5.35% Cap Rate
Investment Highlights
- 8.13% rent increase in 2030
- Core anchor of the 489,151-square-foot Corona Hills Plaza
- Two, 5-year renewal options with 10% increases at the onset of both options
- 5.8 MSF of retail, 3.7 MSF of office, 19.9 MSF of industrial and 11,675 multifamily units within a 3-mile radius
Executive Summary
CBRE is pleased to offer for sale the 100,000-square-foot Home Depot situated on 8.82 acres in Corona, CA—a component of the broader Riverside-San Bernardino-Ontario MSA (Population: 4.7M+). Home Depot’s net lease features ±8.7 years of primary term remaining with an 8.13% rent increase in 2030. Additionally, the lease features two, 5-year renewal options with 10% increases at the onset of both options.
The Home Depot is a central anchor of the 489,151-square-foot Corona Hills Plaza, one of the premier shopping destinations in the Inland Empire. The center features a robust mix of national retailers including Costco, TJ Maxx, Ross Dress for Less, Five Below, Dollar Tree, and Big 5 Sporting Goods, as well as popular dining destinations like Lazy Dog Restaurant & Bar and Texas Roadhouse.
Located at 480 N. McKinley Street in Corona, the Home Depot is positioned with exceptional visibility and access along the State Route 91 (±220,000 VPD) and near the I-15 interchange. Its location off the McKinley Street exit provides direct regional connectivity for residential consumers and professional contractors throughout Riverside and Orange Counties.
The Home Depot is a central anchor of the 489,151-square-foot Corona Hills Plaza, one of the premier shopping destinations in the Inland Empire. The center features a robust mix of national retailers including Costco, TJ Maxx, Ross Dress for Less, Five Below, Dollar Tree, and Big 5 Sporting Goods, as well as popular dining destinations like Lazy Dog Restaurant & Bar and Texas Roadhouse.
Located at 480 N. McKinley Street in Corona, the Home Depot is positioned with exceptional visibility and access along the State Route 91 (±220,000 VPD) and near the I-15 interchange. Its location off the McKinley Street exit provides direct regional connectivity for residential consumers and professional contractors throughout Riverside and Orange Counties.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
100,000 SF
Building Class
B
Year Built
1989
Price
$29,906,542
Price Per SF
$299.07
Cap Rate
5.35%
NOI
$1,600,000
Tenancy
Single
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.26
Lot Size
8.82 AC
Parking
280 Spaces (2.8 Spaces per 1,000 SF Leased)
Frontage
537’ on 91 Fwy
Amenities
- Freeway Visibility
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 115-380-008 | Improvements Assessment | $8,992,199 |
| Land Assessment | $4,076,120 | Total Assessment | $13,068,319 |
Property Taxes
Parcel Number
115-380-008
Land Assessment
$4,076,120
Improvements Assessment
$8,992,199
Total Assessment
$13,068,319
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Cyrus Felfeli -
Jimmy Slusher -
Abby Kelly -
Leah Lindell -
Katie Goldberg -
Ty Grenier -
CBRE, Inc.
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The Home Depot: Corona, CA | 490 N McKinley St
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