22420 Cactus Avenue, Moreno Valley, CA 92553

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Property Description

Ideal 1031 Exchange Opportunity NNN Leases (100%) Newer Building with little to no maintenance All 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 property’s 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

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Calculator source: Real Geeks

Listing courtesy of Kyle Williams from Ashwill Associates

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