Strip Ctr/Dev.Opp. | Investor/Owner/User

Faris Lee Investments is pleased to present the unique opportunity to acquire the fee simple interest (land & building) in Montclair Center ("The Property"); Value-add strip shopping center along the dominant Center Avenue retail corridor in Montclair, CA. The property boasts an exponential growth opportunity with the ability to ground lease the scraped pad portion of the property. The prior use on the extra land was a 1,400 sq. ft. quick serve restaurant with a drive thru. With the additional ground lease and taking the existing shop rents to market levels, an Investor would potentially achieve an expected 8.46% Cap Rate return and increase the annual rent by nearly $160,000/yr. The asset is ideally configured with small leasable units averaging 1,200 sq, ft., allowing for a variety of uses and catering to the largest tenant pool for ease of leasing. Furthermore, all existing leases have a Gross lease structure providing an investor a realistic value add opportunity as leases are converted to a NNN lease structure.
Montclair Center is ideally positioned within the dense infill city of Montclair along the highly trafficked Central Avenue, which experiences well over 31,200 vehicles per day. Montclair Center is located in close proximity to the major economic drivers of the area including Costco, Metroplex Auto Mall, and Montclair Place regional mall. These economic drivers help to ensure daily customer visits to the immediate trade area which benefit the tenants at Montclair Center. Additionally, the property benefits from exceptional demographics with over 508,000 residents with an average household income in excess of $93,200 and over 228,400 day-time employees within a 5-mile radius.