1 Margarita Road,  Temecula CA, 92592 (Commercial)

Status: Sold
MLS#: SW14201611
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Last Updated: 12/5/2016 2:27 AM
Description for 1 Margarita Road Temecula, CA 92592
We are pleased to offer for sale an established medical/grocery-anchored shopping center located in Temecula, CA. With 94% of the GLA occupied by national and regional tenants, investors are offered the rare opportunity to acquire a stabilized shopping center with strong initial returns plus upside. The shopping center consists of about 30,000 SF of GLA on 2.6 acres of land, and it is anchored by a huge chain Grocery Store, Medical Group, Dentist, Major Pizza Chain, and more. Eleven spaces total, 10 of which are currently occupied by solid tenants. Investors have the opportunity to obtain both Medical and Retail that is Shadow Anchored by Home Depot, Albertsons, Chase Bank, and many others, on busy HWY 79. The investment offers an excellent current cap rate of 5.7%, projected cap rate of much higher with upside through the lease-up and converting rents at lease rollover. Despite stable tenants and upside potential, the property is priced at just $11,100,000, offering good intrinsic value. In addition, most leases are full NNN, with reimbursements for both management and admin fees. Best street frontage, high traffic area, heart of Temecula shopping
Price
Sold Price:
$7,100,000
Sold Date:08/02/2015
Riverside
SW14201611
Closed
Description
We are pleased to offer for sale an established medical/grocery-anchored shopping center located in Temecula, CA. With 94% of the GLA occupied by national and regional tenants, investors are offered the rare opportunity to acquire a stabilized shopping center with strong initial returns plus upside. The shopping center consists of about 30,000 SF of GLA on 2.6 acres of land, and it is anchored by a huge chain Grocery Store, Medical Group, Dentist, Major Pizza Chain, and more. Eleven spaces total, 10 of which are currently occupied by solid tenants. Investors have the opportunity to obtain both Medical and Retail that is Shadow Anchored by Home Depot, Albertsons, Chase Bank, and many others, on busy HWY 79. The investment offers an excellent current cap rate of 5.7%, projected cap rate of much higher with upside through the lease-up and converting rents at lease rollover. Despite stable tenants and upside potential, the property is priced at just $11,100,000, offering good intrinsic value. In addition, most leases are full NNN, with reimbursements for both management and admin fees. Best street frontage, high traffic area, heart of Temecula shopping
Listing Information
Property Type: General Commercial, Other
2.6 Acres 113,256 sq.ft. 2007
Neighborhood
Room Information
Exterior / Lot Features
None
Listing Price History

Temecula Real Estate

Temecula is located in California. Temecula, California 92592 has a population of 100,621.

The median household income in Temecula, California 92592 is $78,668. The median household income for the surrounding county is $57,096 compared to the national median of $53,046. The median age of people living in Temecula 92592 is 32.9 years.

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Courtesy: Coldwell Banker Assoc.Brkr-Mur Shawna Tibbitts
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