Shoppes at Central | 12526-12544 Central Ave
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Shoppes at Central 12526-12544 Central Ave
13,790 SF 50% Leased Retail Building Chino, CA 91710 $4,220,000 ($306.02/SF) 8.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Opportunity to double in-place NOI by leasing vacant space
- The city of Chino is centrally located in the heart of the Inland Empire with direct access to surrounding freeways including the 60, 71 & 10
- Below Market Rents - property wide, in-place rents are just $2.11/PSF NNN, leaving substantial room to grow rents as leases expire
- Given the existing vacancy and short-term leases, an Owner/User has the ability to purchase and occupy all, or a portion, of the shopping center
EXECUTIVE SUMMARY
Shoppes at Central is a true, value-add, multi-tenant opportunity in the dense, infill community of Chino, CA. With a hands-on-management approach, and an aggressive leasing strategy, a new owner has the opportunity to more than double Net Operating Income by Year 2 of the anticipated hold period (reflected in 8.15% Year 2 cap rate). Most tenants are on month-to-month leases providing a new owner the flexibility to curate tenancy at the shopping center. Existing 6,860 SF of vacancy can be offered to one tenant for ease of management or demised into smaller spaces to maximize rent per SF.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
13,790 SF
Building Class
C
Year Built
1970
Price
$4,220,000
Price Per SF
$306.02
Cap Rate
8.15%
NOI
$344,124
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.41 AC
Zoning
CG - General Commercial
Frontage
175’ on Central Ave
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1015-371-03 | Improvements Assessment | $402,002 |
| Land Assessment | $214,474 | Total Assessment | $616,476 |
PROPERTY TAXES
Parcel Number
1015-371-03
Land Assessment
$214,474
Improvements Assessment
$402,002
Total Assessment
$616,476
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Shoppes at Central | 12526-12544 Central Ave
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