233 E State St
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233 E State St
9,345 SF 100% Leased Retail Building Redlands, CA 92373 $3,225,000 ($345/SF) 5.04% Cap Rate
Investment Highlights
- Established Tenant History: Diverse mix of “Amazon proof” businesses.
- Prime Corner Location: High foot traffic with convenient access ensure long-term value.
- Strong Market: Downtown Redlands is a vibrant and growing market with consistent demand for commercial space.
- Attractive Cap Rate: The 5.04% cap rate offers a competitive return on investment.
Executive Summary
Strategically positioned in the heart of Redlands, Patio Shops is a prime location for businesses. With high visibility and easy access, this well-maintained property offers a diverse “amazon proof” tenant mix and a history of strong rental income.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,345 SF
Building Class
C
Year Built/Renovated
1962/2000
Price
$3,225,000
Price Per SF
$345
Cap Rate
5.04%
NOI
$162,540
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.98
Lot Size
0.22 AC
Zoning
Retail, Office, Special - Mixed Use - Office, Retail, Creative Space, Restaurant
Parking
2 Spaces (0.21 Spaces per 1,000 SF Leased)
Frontage
80 FT on State St
Amenities
- 24 Hour Access
- Commuter Rail
- Corner Lot
- Courtyard
- Balcony
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0171-071-12 | Total Assessment | $1,396,057 |
| Land Assessment | $295,462 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,100,595 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0171-071-12
Land Assessment
$295,462
Improvements Assessment
$1,100,595
Total Assessment
$1,396,057
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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233 E State St
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