23980 Ironwood Ave - Storefront FOR SALE


Moreno Valley, CA 92557- Moreno Valley West
$13,206,000 USD
949-221-1807
23980 Ironwood Ave, Moreno Valley, CA for Sale
$13,206,000 USD
Storefront - FOR SALE
1/4
null | 6% Cap Rate

23980 Ironwood Ave
Moreno Valley, CA 92557
Moreno Valley West


HIGHLIGHTS

  • Ironwood Plaza: Dollar Tree-Anchored Shopping Center in Riverside County CA
  • Hard Corner location at 4-Way Intersection near CA-60 (135,900 VPD)
  • Legacy, daily-needs shopping center serving community for decades
  • Dollar Tree (DLTR): Investment Grade Anchor Tenant (9,300+ locations) | Opened at Subject Property in 2024
  • Offered Below Replacement Cost: $235 PSF
  • Estimated 23% NOI Growth by Year 3 | 13% Vacant | Embedded Rent Increases

OVERVIEW

Faris Lee Investments is pleased to present the opportunity to acquire Ironwood Plaza, a daily needs Dollar Tree-anchored shopping center located in Moreno Valley, California. Strategically positioned at the signalized intersection of Heacock Street and Ironwood Avenue, near the CA-60 Freeway (135,000+ VPD), the shopping center features exceptional visibility and accessibility within one of Riverside County's most densely populated trade areas. Ironwood Plaza, anchored by investment-grade Dollar Tree, offers investors stable in-place cash flow and significant upside through lease-up / mark-to-market opportunities. Offered below ‘replacement cost’ at approximately $235 per square foot, this investment presents an attractive low-basis acquisition with meaningful long-term value appreciation potential. Dollar Tree (NASDAQ: DLTR / S&P: BBB) serves as the investment-grade anchor to Ironwood Plaza, operating more than 9,300 stores throughout the United States and Canada with an estimated $20.6 billion in 2026 revenue and a market capitalization exceeding $22 billion. The retailer provides a dependable daily-needs traffic driver that benefits the entire shopping center while maintaining an exceptionally low occupancy cost at the subject property. The subject property benefits from exceptional Southern California demographics and a dominant retail corridor. Ironwood Plaza is surrounded by the city's strongest residential neighborhoods, with more than 134,280 residents within a three-mile radius, and over 220,610 residents within five miles. Proximate national retailers include Costco, Target, Walmart Supercenter, Sprouts, Home Depot, Lowe's, WinCo Foods, Food 4 Less, Sam's Club, Aldi, and more. These nearby shopping centers collectively generate millions of annual customer visits, including Towngate Shopping Center with more than 7.2 million visits over the past 12 months, ranking in the top 97th percentile nationwide. Ironwood Plaza presents investors with a compelling opportunity to acquire a well-located, Dollar Tree-anchored, daily needs neighborhood shopping center in Southern California offering stable income, growing cash flow, and value-add potential.

FOR SALE DETAILS

PRICE

$13,206,000 USD

PRICE/SF

$264 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ironwood Plaza | Dollar-Tree Anchored | SoCal

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bank, Convenience Store, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

268

LAND DETAILS

LAND ACRES

4.5 AC

LAND SF

196,020 SF

ZONING

CC

APN/PARCEL ID

264-100-010

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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