Sunnymead Village
24541-24661 Alessandro Boulevard, Moreno Valley, CA, 92553
Property Description
Price: $5,750,000
Price Per/SF: $200.38
Land Area: ±2.53 Acres
Cap Rate: 5.08% Current | 9.79% Pro Forma
Gross Leasable Area: ±28,695 SF
Year Built: 1985
Investment Highlights
Value-Add Opportunity – Investors Have the Opportunity to Achieve a 9.79% Pro Forma Cap Rate by Renewing Existing Leases at Market Rates
Excellent Exposure Along Alessandro Boulevard, a Main Thoroughfare for the Area (Traffic Counts Exceed 36,000 Cars Per Day)
Offered at a Price/SF of Just $200.38 (Well Below Replacement Value)
Southern California Shopping Center Offering
- 100% Occupied Retail Center with Excellent Tenancy – Over 60% of the GLA has Operated at Property for 5+ Years, Over 40% has Operated for 10+ Years
- Immediate Upside Available – The Subject Property Features a Number of Month-to-Month or Short-Term Leases with Below Market Rents, Allowing Potential Buyers to Immediately Realize Upside by Renewing Existing Tenants at Market Rents
- Large Lot of ±2.53 AC with Excellent Visibility Alessandro Boulevard
Strong Real Estate Fundamentals
- Multiple Points of Ingress and Egress on Alessandro Boulevard
- Close Proximity to the Area’s Major Freeways (60 and 215 Freeways)
- Dense, Infill Area – Population Counts Exceed 228,000 Within 5 Miles | Strong Average Household Income of $94,725 Within 5 Miles
- Close Proximity to a Number of Credit Tenants Including Food4Less, El Super, Walgreens, Ross, Firestone Auto, and Many More
Contact Information
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643