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41529 - 41539 Kalmia Street - Kalmia Plaza - Kalmia Plaza, Murrieta, CA

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41529 - 41539 Kalmia Street - Kalmia Plaza - Kalmia Plaza

NWC of Kalmia St. & Jefferson Ave.
Murrieta, CA 92562-9597 - South Riverside Submarket

(2.6 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2006
Building Size:31,837 SF Land Area:2.87 AC (125,017 SF)
For Sale Price:$7,400,000 Price/SF:$232.43
Cap Rate:6.45 %
Parking:Free Surface spaces are available; Ratio of 4.28/1,000 SF
Features:Pylon Sign, Signage, Signalized Intersection

Sale Notes:
Investment Highlights
• Kalmia Plaza is a 31,837 SF multi-tenant retail strip center, 83% leased to a synergistic mix of thirteen (13) restaurant, retail and service tenants
• With immediate upside in vacant space lease-up, Kalmia Plaza presents a rare opportunity to purchase a “value-add” retail center in one of the Inland Empire’s more affluent trade areas
• Low in-place rents - property wide, rents average just $1.40 PSF/month, creating an opportunity to benefit from the next cycle of rental growth
• Significant NOI Growth - Through lease-up of vacant space, embedded rental increases, and rental growth, the NOI is projected to grow more than $335,480 (76%) over the anticipated hold period, providing an excellent hedge against inflation
• The California Oaks Rd./Kalmia St. exit is one of the dominant retail pockets in the trade area with tenants including Target, Lowe’s, Kohl’s, Bed Bath & Beyond, Babies “R” Us, Petco, Guitar Center, LA Fitness, Auto Zone, O’ Reilly Auto Parts, Starbuck’s, Jack in the Box, Taco Bell, Carl’s Jr. and many others
• Kalmia Plaza presents an uncommon opportunity to purchase a high-quality retail strip center at a significant discount to land-inclusive replacement cost estimated to be $310 PSF

Phil D Voorhees
(949) 725-8521

John Read
(949) 725-8606

James Slusher
(949) 725-8507

Megan Wood
(949) 725-8423

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