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Montclair Shops 5454-5484 Moreno St 27,592 SF 89% Leased Retail Building Montclair, CA 91763 $6,160,000 ($223.25/SF) 6% Cap Rate
Investment Highlights
- Immediate Leasing Upside – Currently ~89% occupied, offering immediate NOI growth through lease-up of remaining vacancy.
- Well Below Replacement Cost – Offered at approx. $223/SF, below replacement cost, supporting long-term value preservation and downside protection
- Diversified Income Stream – No single tenant accounts for more than ~23% of total income, providing a hedge against vacancy risk and income disruption
- Home to Rhino Records — Long-Standing Trade Area Draw – Rhino Records has served the Montclair and Inland Empire trade area for over 50 years
Executive Summary
Progressive Real Estate Partners is pleased to present a value-add retail strip center located in the established, infill City of Montclair, California. The eight-tenant property offers investors a compelling combination of strong in-place cash flow and clear upside through lease-up and rent growth. Currently approximately 89% occupied, the center features a weighted average rent of $1.33 per square foot NNN, well below prevailing market rents of $1.85 to $2.25 per square foot, with recent leasing at $2.00 per square foot confirming achievable market levels. Offered at a 6.00% in-place cap rate and approximately $223 per square foot—well below replacement cost—the asset provides a protected basis with meaningful yield expansion potential. At stabilization, assuming conservative rent growth and a modest vacancy factor, the property achieves an estimated 9.4% pro forma yield. The service-oriented, internet-resilient tenant mix supports durable income, while the property’s proximity to Montclair Place and ongoing residential growth further underpin long-term tenant demand.
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Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
27,592 SF
Building Class
B
Year Built
1979
Price
$6,160,000
Price Per SF
$223.25
Cap Rate
6%
NOI
$369,652
Percent Leased
89%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
2.30 AC
Zoning
C3 - General Commercial
Parking
107 Spaces (3.88 Spaces per 1,000 SF Leased)
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
±3,150 SF End Cap Space
| Space | Size | Space Use | Position | Available |
| 5484 | 3,150 SF | Retail | End Cap | Now |
5484
| Size |
| 3,150 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
5484
| Size | 3,150 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
±3,150 SF End Cap Space
Nearby Major Retailers
Property Taxes
| Parcel Number | 1008-042-01 | Improvements Assessment | $2,765,200 |
| Land Assessment | $2,460,300 | Total Assessment | $5,225,500 |
Property Taxes
Parcel Number
1008-042-01
Land Assessment
$2,460,300
Improvements Assessment
$2,765,200
Total Assessment
$5,225,500
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Montclair Shops | 5454-5484 Moreno St
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