Skip To Content

22420 Cactus Avenue

Moreno Valley, CA 92553
  • $4,825,000
  • STATUS: Active
  • ON SITE: 134 Days
  • ID#: PW21159210
UPDATED: 82 min ago
$4,825,000
  • 0
    BEDS
  • 1.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2007
County:

School Ratings & Info

Listing provided courtesy of Kyle Williams of Ashwill Associates

Description

Ideal 1031 Exchange OpportunityNNN Leases (100%)Newer Building with little to no maintenanceAll Tenants on long-term NNN Leases!!! Perfect 1031 Exchange or Investment Opportunity!!!HIGH-QUALITY, RETAIL/OFFICE STRIP CENTER WITH STABLE TENANTS TENANCY - Built in 2007, Cactus Plaza is an approximately 15,986 SF retail and office center on 1.30 acres, 12 units, 100% occupied by 9 retail, restaurant and service tenants.? HIGH-TRAFFIC LOCATION - Cactus Plaza is located on high-traffic Cactus Avenue (over 50,245 CPD) immediately off the I-215 Freeway (over 184,000 CPD adjacent to the March Air Reserve Base and numerous large scale industrial/distribution buildings, providing a significant customer base for the property.? STRONG HISTORICAL TENANCY WITH LIMITED NEAR-TERM ROLLOVER:- 4 tenants totaling 59% of the occupied GLA have operated at the property for 5 years or more.?- 5 tenants totaling 48% of the occupied GLA have 3 years or more remaining on current leases.?- Flaming Grill has occupied the property since 2013 and recently extended its lease for 5 years.? RECENT LEASING ACTIVITY One tenant, Elektrik Hair recently signed leases for 1st Floor space, providing 100% occupancy to the Plaza.? LOW RENTS CREATE LONG TERM EMBEDDED VALUE Current in-place rents average only $1.52 PSF/NNN, slightly below estimated market rate enhancing the propertys security and long-term embedded value.? EXCELLENT INCOME GROWTH Due to embedded increases averaging 3% + annually, below market rents, the Net Operating Income is projected to increase over the near term providing a strong hedge against inflation and further upside, ideal 1031-Exchange Opportunity.? OCCUPANCY With a current occupancy of 100% and substantial rental income on day 1, Cactus Plaza provides immediate and substantial rental income to investors with little to no management responsibility

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T12:25:26.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RGA Homes | Coldwell Banker Realty. Licensed in the State of California, USA.
www.rgahomes.com/homes/119517379
Print Image

22420 Cactus Avenue Moreno Valley, CA 92553

  • Price: $4,825,000
  • Status: Active
  • On Site: 134 Days
  • Updated: 82 min ago
  • ID#: PW21159210
0
Beds
0
Baths
0
½ Baths
1.3
Acres
2007
Built
Neighborhood:
259 - Moreno Valley
County:
Riverside
Area:
259 - Moreno Valley
Property Description
Ideal 1031 Exchange OpportunityNNN Leases (100%)Newer Building with little to no maintenanceAll Tenants on long-term NNN Leases!!! Perfect 1031 Exchange or Investment Opportunity!!!HIGH-QUALITY, RETAIL/OFFICE STRIP CENTER WITH STABLE TENANTS TENANCY - Built in 2007, Cactus Plaza is an approximately 15,986 SF retail and office center on 1.30 acres, 12 units, 100% occupied by 9 retail, restaurant and service tenants.? HIGH-TRAFFIC LOCATION - Cactus Plaza is located on high-traffic Cactus Avenue (over 50,245 CPD) immediately off the I-215 Freeway (over 184,000 CPD adjacent to the March Air Reserve Base and numerous large scale industrial/distribution buildings, providing a significant customer base for the property.? STRONG HISTORICAL TENANCY WITH LIMITED NEAR-TERM ROLLOVER:- 4 tenants totaling 59% of the occupied GLA have operated at the property for 5 years or more.?- 5 tenants totaling 48% of the occupied GLA have 3 years or more remaining on current leases.?- Flaming Grill has occupied the property since 2013 and recently extended its lease for 5 years.? RECENT LEASING ACTIVITY One tenant, Elektrik Hair recently signed leases for 1st Floor space, providing 100% occupancy to the Plaza.? LOW RENTS CREATE LONG TERM EMBEDDED VALUE Current in-place rents average only $1.52 PSF/NNN, slightly below estimated market rate enhancing the propertys security and long-term embedded value.? EXCELLENT INCOME GROWTH Due to embedded increases averaging 3% + annually, below market rents, the Net Operating Income is projected to increase over the near term providing a strong hedge against inflation and further upside, ideal 1031-Exchange Opportunity.? OCCUPANCY With a current occupancy of 100% and substantial rental income on day 1, Cactus Plaza provides immediate and substantial rental income to investors with little to no management responsibility
Exterior Features

Construction Materials Stucco Fencing None Lot Features LandscapedLevelPavedStreet Level Sign On Property YN Yes

Interior Features

Building Features Elevator(S) Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Additional Parcels YN No Building Name Cactus Plaza Business Type AccountingAdministrative And SupportBarber/BeautyDance StudioFood & BeverageFast FoodFranchiseFitnessGroceryHealth FoodHealth ServicesIce Cream/Frozen YogurtIndustrialMedicalMixedMulti-TenantProfessional/OfficeOffice SupplyOtherPhotographerProfessional Service Cap Rate 6.06 Common Interest None Electric Standard Electric Expense 3365 Insurance Expense 5671 Land Lease YN No Laundry Features None Lease Considered YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 12992 Net Operating Income 292477 Number Of Units Leased 12 Operating Expense 94174 Other Expense 7327 Property Sub Type Retail Special Listing Conditions Standard Supplies Expense 88 Tax Annual Amount 38062 Tax Year 2020 Trash Expense 6114 Utilities Electricity AvailableElectricity ConnectedPhone AvailablePhone ConnectedSewer AvailableSewer ConnectedWater AvailableWater Connected Water Sewer Expense 9016 Water Source Public Zoning Business Park Mixed Use



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T12:25:26.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RGA Homes | Coldwell Banker Realty. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365823707-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365823707-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365823707-1.jpg
Logo
RGA Homes | Coldwell Banker Realty
3790 Via De La Valle Suite 301
Del Mar CA, 92014
Listing provided courtesy of Kyle Williams of Ashwill Associates