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24454 Sunnymead Blvd

1.2 Acres of Commercial Land Offered at $2,900,000 in Moreno Valley, CA 92553

Property Facts

Price $2,900,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Hotel
Total Lot Size 1.20 AC
Opportunity Zone Yes

1 Lot Available

Lot

Price $2,900,000
Price Per AC $2,416,667
Lot Size 1.20 AC

HREC Investment Advisors is pleased to offer, to qualified investors, the opportunity to acquire the 1.21-acre land site situated at 24454 Sunnymead Blvd., Moreno Valley, CA 92553.

Description

The Extended Stay Hotel Development Site – Moreno Valley presents a compelling opportunity for prospective owners. The extended stay model is particularly attractive due to its low operational costs and high profit margins compared to traditional limited-service hotels. Currently, only 16% of branded hotels in Moreno Valley fall into the extended stay category, indicating significant room for growth and market share capture. The city’s dynamic and rapidly growing nature, coupled with its strategic location at the junction of SR-60 and I-215, further enhances its appeal. Moreno Valley is home to over 4,500 businesses, including many Fortune 500 and international companies, and offers a pro-business environment with competitive incentives for relocating or expanding businesses. The strong corporate demand in Moreno Valley is driven by the presence of major facilities operated by companies such as Target, Procter & Gamble, Amazon, ALDI, and Ross within a 5-mile radius. This concentration of large corporations creates a substantial need for extended-stay accommodations. Additionally, the diverse economic base of the city, which includes healthcare, education, and a growing e-commerce sector, further supports the demand for such properties. The proximity to major transportation hubs, such as Ontario International Airport, and easy access to major highways, along with the presence of March Air Force Reserve Base, make Moreno Valley an attractive location for business travelers and logistics operations. Beyond its corporate appeal, the city offers various recreational opportunities, cultural events, and historical sites, enhancing its overall attractiveness as a destination for both business and leisure travelers.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 481-101-038
  • 481-101-033
Land Assessment
$612,000
Improvements Assessment
$535,500
Total Assessment
$1,147,500

zoning

Zoning Code SP 204 VCR
SP 204 VCR
  • Listing ID: 32597535

  • Date on Market: 7/26/2024

  • Last Updated:

  • Address: 24454 Sunnymead Blvd, Moreno Valley, CA 92553

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