41539 Kalmia Street, Murrieta, 92562

Commercial - Retail For Sale

$7,500,000

Beds
Baths
Sqft
Built
49DOM
MLS® #: IV18257067
Active, 49 Days on Market

Property Highlights; Competitive Offering Market Actual CAP Rate of 6.84 %, Huge Upside in Potential Income With a ProForma CAP Rate of 7.48 % , Significant NOI Growth - Through Lease-up of Vac. Space of (7%) / Leveling-off Current Rents, • Six Tenants Recently Renewed for Three (3) years @ $1.75/Sq. Ft.. The Majority of the Tenants Have Demonstrated Further Commitment to the Location With Lease Extensions Through 2021 & 2022. Tenant lease rates were substantially reset from their peak levels (exceeding $3.00 PSF/month NNN), creating an opportunity to benefit from the next cycle of rental growth. Property wide rents average just $1.55 PSF/month, Existing rents will be easily replaced or improved as leases roll. Multi-tenant strip center with NNN leases provide for minimal management obligation. High-quality 2006 construction retail center limiting near-term capital improvements. Kalmia Plaza provides 132 parking stalls which equates to 4.14:1,000 parking ratio. Seasoned Tenancy – Seven (7) tenants totaling 14,024 SF (47% of the current occupancy) have occupied the property for four (4) years or more. The Kalmia Plaza is located off the California Oaks Rd./Kalmia St. exit is one of the dominant retail pockets in the trade area with tenants including Target, Lowe’s, Kohl’s, Bed Bath & Beyond, Babies “R” Us, Petco, Guitar Center, LA Fitness, Auto Zone, O’ Reilly Auto Parts, Starbuck’s, Jack in the Box, Taco Bell, Carl’s Jr. and many others.

Essential Information

MLS® #: IV18257067
Price: $7,500,000
Acres: 0.00
Type: Commercial
Sub-Type: Retail
Status: Active

Community Information

Address: 41539 Kalmia Street
Area: Wrigley Area (5)
City: Murrieta
County: Riverside
State: CA
Zip Code: 92562

Amenities

Parking Spaces: 132

Exterior

Lot Description: 11-15 Units/Acre

Additional Information

Date Listed: October 23rd, 2018
Days on Market: 49

Listing Details

Listing Agent: Albert Le(01468313)
Listing Office: LE INVESTMENT GROUP

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Listing information last updated on December 15th, 2018 at 12:31pm PST.

Based on information from California Regional Multiple Listing Service, Inc. as of December 15th, 2018 at 12:32pm PST. 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.