22420 Cactus Avenue, Moreno Valley, CA 92553

$4,825,000
List Price
$4,825,000
Status
ACTIVE
MLS#
PW21159210
Year Built
2007
Lot Size
56,628
Acres
1.3
Lot Location
Landscaped, Level, Paved, StreetLevel
Days on Market
137
Property Type
Commercial
Property Sub Type
Retail

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

Additional Information

Taxes
$38,062
Heat
Central
Cooling
Yes
Cooling Description
Central Air
Exterior Construction
Stucco
Water
Public
Attached Structure
Detached
Number Of Units Total
12
Operating Expense
94174

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Listing courtesy of Kyle Williams from Ashwill Associates

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.