Drive-Thru on Signalized, Hard Corner | 24515 Alessandro Blvd
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Drive-Thru on Signalized, Hard Corner 24515 Alessandro Blvd
7,023 SF Vacant Retail Building Moreno Valley, CA 92553 $1,400,000 ($199/SF)
Executive Summary
High Traffic Counts – ±48,430 cars per day
Signalized Intersection – Prominently situated on the corner of Alessandro Blvd & Indian St
Monument Signage Included
Demographics – 165,800 residents with $91,700 average household income (3-mile radius)
Growth Market – With an annual growth rate of 3.44%, Moreno Valley is one of the fastest growing cities in the region. It recently became the 2nd largest city in Riverside County and 21st largest city in California by population.
Close Proximity to Regional Industrial Hub + Daytime Population – Moreno Valley is home to over 32 million square feet of industrial space leased to national companies such as Amazon, ALDI, Home Depot, Lowe’s, Ross, Skechers, and more.
Purchase financing is available to owner-users through the Small Business Administration. Down payments are as little as 10%.
If purchased with 10% down ($140,000), the monthly loan payment is estimated at $8,100/month ($1.15/SF). After accounting for $5,200 of potential monthly gross rent from Suite B (2,600 x $2.00 PSF Gross) the effective cost to occupy the remaining 3,923 SF is just $2,800/month ($0.73/SF).
After removing principal paydown ($2,450/month during Year 1) and accounting for just the interest portion of the monthly loan payment, the cost to occupy drops to approximately $350/month, or just $0.09/SF/month - far less than the cost of leasing!
As an owner, one can benefit from the potential appreciation of the asset.
Signalized Intersection – Prominently situated on the corner of Alessandro Blvd & Indian St
Monument Signage Included
Demographics – 165,800 residents with $91,700 average household income (3-mile radius)
Growth Market – With an annual growth rate of 3.44%, Moreno Valley is one of the fastest growing cities in the region. It recently became the 2nd largest city in Riverside County and 21st largest city in California by population.
Close Proximity to Regional Industrial Hub + Daytime Population – Moreno Valley is home to over 32 million square feet of industrial space leased to national companies such as Amazon, ALDI, Home Depot, Lowe’s, Ross, Skechers, and more.
Purchase financing is available to owner-users through the Small Business Administration. Down payments are as little as 10%.
If purchased with 10% down ($140,000), the monthly loan payment is estimated at $8,100/month ($1.15/SF). After accounting for $5,200 of potential monthly gross rent from Suite B (2,600 x $2.00 PSF Gross) the effective cost to occupy the remaining 3,923 SF is just $2,800/month ($0.73/SF).
After removing principal paydown ($2,450/month during Year 1) and accounting for just the interest portion of the monthly loan payment, the cost to occupy drops to approximately $350/month, or just $0.09/SF/month - far less than the cost of leasing!
As an owner, one can benefit from the potential appreciation of the asset.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,023 SF
Building Class
C
Year Built
1983
Price
$1,400,000
Price Per SF
$199
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.63 AC
Zoning
COMU - Commercial Mixed Use
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 7,023 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 7,023 SF | Retail | - | Now |
1st Floor
| Size |
| 7,023 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Walk Score ®
Very Walkable (71)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 482-520-002 | Improvements Assessment | $1,163,066 |
| Land Assessment | $531,350 | Total Assessment | $1,694,416 |
PROPERTY TAXES
Parcel Number
482-520-002
Land Assessment
$531,350
Improvements Assessment
$1,163,066
Total Assessment
$1,694,416
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Drive-Thru on Signalized, Hard Corner | 24515 Alessandro Blvd
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