22420 Cactus Avenue, Moreno Valley, CA 92553 | MLS PW21159210 | Listing Information | Real Estate Reader

22420 Cactus Avenue
Moreno Valley, CA 92553    Directions

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Courtesy: Kyle Williams CalDRE: 02015940 - Ashwill Associates
Real Estate Reader> California> Moreno Valley> 92553
Ideal 1031 Exchange OpportunityNNN Leases (100%)Newer Building with little to no maintenanceAll Tenants on long-term NNN Leases!!! Perfect 1031 Exchange or Investment Opportunity!!!HIGH-QUALITY, RETAIL/OFFICE STRIP CENTER WITH STABLE TENANTS• TENANCY - Built in 2007, Cactus Plaza is an approximately 15,986 SF retail and office center on 1.30 acres, 12 units, 100% occupied by 9 retail, restaurant and service tenants.?• HIGH-TRAFFIC LOCATION - Cactus Plaza is located on high-traffic Cactus Avenue (over 50,245 CPD) immediately off the I-215 Freeway (over 184,000 CPD adjacent to the March Air Reserve Base and numerous large scale industrial/distribution buildings, providing a significant customer base for the property.?• STRONG HISTORICAL TENANCY WITH LIMITED NEAR-TERM ROLLOVER:- 4 tenants totaling 59% of the occupied GLA have operated at the property for 5 years or more.?- 5 tenants totaling 48% of the occupied GLA have 3 years or more remaining on current leases.?- Flaming Grill has occupied the property since 2013 and recently extended its lease for 5 years.?• RECENT LEASING ACTIVITY – One tenant, Elektrik Hair recently signed leases for 1st Floor space, providing 100% occupancy to the Plaza.?• LOW RENTS CREATE LONG TERM EMBEDDED VALUE – Current in-place rents average only $1.52 PSF/NNN, slightly below estimated market rate enhancing the property’s security and long-term embedded value.?• EXCELLENT INCOME GROWTH – Due to embedded increases averaging 3% + annually, below market rents, the Net Operating Income is projected to increase over the near term providing a strong hedge against inflation and further upside, ideal 1031-Exchange Opportunity.?• OCCUPANCY – With a current occupancy of 100% and substantial rental income on day 1, Cactus Plaza provides immediate and substantial rental income to investors with little to no management responsibility
Retail, 2 Story
1.3 Acres
The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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Courtesy: Kyle Williams, Ashwill Associates
Agent License: 02015940 Office License: 01291393

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