26545 Highland Ave
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26545 Highland Ave
20,042 SF Retail Building Highland, CA 92346 $5,389,445 ($269/SF) 5.95% Cap Rate
Investment Highlights
- STNL Ross Dress for Less: 10-Year NNN Lease – Relocation Store, Grocery Anchored
Executive Summary
* New Long-Term Corporate Lease – Brand-new 10-year lease with Ross Dress for Less, Inc. plus four 5-year options to extend at set increases – this relocation store and long-term lease demonstrates Ross’ commitment to this highly viable retail site and trade area – store opening scheduled for October 2024
* Investment Grade, Fortune 500, Publicly Traded Company – With over 2,100 stores in the United States, Ross Stores, Inc. (NASDAQ: ROST) has a market capitalization of approximately $47 billion, revenues exceeding $20 billion, and an investment grade S&P credit rating of BBB+
* High-Performing Grocery Anchored Location – Ross invested significant capital to relocate to this site adjacent to Food 4 Less, a high performing grocery store with a recent addition of a Food 4 Less Fuel Center
* NNN Lease Structure – Property expenses including common area maintenance (CAM) costs + 10% admin., property taxes, insurance, HVAC, and signage reside with the tenant, limiting landlord responsibilities and expenses
* Newly Renovated Property – The property is being renovated for Ross’ occupancy with roof, HVAC, façade and signage improvements, limiting any near-term landlord capital requirements
*Irreplaceable, Below Replacement Cost – At listing pricing, the property would prove to be very difficult to replace at this price PSF, and given the quality of this location adjacent to one of the top performing grocers in the trade area
* Investment Grade, Fortune 500, Publicly Traded Company – With over 2,100 stores in the United States, Ross Stores, Inc. (NASDAQ: ROST) has a market capitalization of approximately $47 billion, revenues exceeding $20 billion, and an investment grade S&P credit rating of BBB+
* High-Performing Grocery Anchored Location – Ross invested significant capital to relocate to this site adjacent to Food 4 Less, a high performing grocery store with a recent addition of a Food 4 Less Fuel Center
* NNN Lease Structure – Property expenses including common area maintenance (CAM) costs + 10% admin., property taxes, insurance, HVAC, and signage reside with the tenant, limiting landlord responsibilities and expenses
* Newly Renovated Property – The property is being renovated for Ross’ occupancy with roof, HVAC, façade and signage improvements, limiting any near-term landlord capital requirements
*Irreplaceable, Below Replacement Cost – At listing pricing, the property would prove to be very difficult to replace at this price PSF, and given the quality of this location adjacent to one of the top performing grocers in the trade area
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
20,042 SF
Year Built
1995
Price
$5,389,445
Price Per SF
$269
Cap Rate
5.95%
NOI
$320,672
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Land Acres
2.03 AC
Zoning
GC - General Commercial
PROPERTY TAXES
| Parcel Number | 1191-241-35 | Improvements Assessment | $2,142,000 |
| Land Assessment | $714,000 | Total Assessment | $2,856,000 |
PROPERTY TAXES
Parcel Number
1191-241-35
Land Assessment
$714,000
Improvements Assessment
$2,142,000
Total Assessment
$2,856,000
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26545 Highland Ave
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