10340-10368 Central Ave - Storefront FOR SALE


Montclair, CA 91763
$2,100,000 USD
949-221-1807
10340-10368 Central Ave, Montclair, CA for Sale
$2,100,000 USD
Storefront - FOR SALE
1/12
null | Request Cap Rate

10340-10368 Central Ave
Montclair, CA 91763


HIGHLIGHTS

  • Value-Add Opportunity | Potential $96,000 Annual Income Growth with Addition of Ground Lease
  • Ideal Configuration for Strip Shopping Center | Small, Leasable Units | Gross Leases Provide Value Add Opportunity
  • Owner/User Opportunity to Occupy Shop Space of 1,973 SF and/or Vacant Pad to be Developed
  • Potential 18.35% Annual Return to Owner vs Leasing
  • Major Building Upgrades Completed In 2022 | Ease of Management / NNN Leases
  • Located On Central Ave. With Exposure to 31,200+ Vehicles/Day

OVERVIEW

Faris Lee Investments is pleased to present a unique opportunity for an owner-user to acquire this fee simple interest (land & building) strip center along the dominant Central Avenue retail corridor in Montclair, CA. The property boasts an exponential growth opportunity with the ability to ground lease a portion of the existing paved area. The Montclair Center offers a chance for a business to save on rent while benefiting from significant long-term value. An owner-user can offset costs due to property ownership vs leasing with a ROI of 18.35%. 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. 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. Acquiring Montclair Center as an owner-user offers not only an ideal operational base for your business but also a strategic real estate investment with substantial upside potential.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$157 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Owner | User to Occupy Shop Space or Pad Dev

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

C2

APN/PARCEL ID

1010-622-14

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.