29697 New Hub Dr - Service FOR SALE


Menifee, CA 92586- Sun City
$4,995,000 USD
951-640-5616
29697 New Hub Dr, Menifee, CA for Sale
$4,995,000 USD
Service - FOR SALE
1/16
null | 5.08% Cap Rate

29697 New Hub Dr
Menifee, CA 92586
Sun City


HIGHLIGHTS

  • 1 block north of Newport Road/I-215 On/off-ramp with easy freeway access
  • In the heart of the City of Menifee, just north of Newport Road, Menifee's busiest corridor
  • Walking distance to US Post Office, Menifee Police Station, City Hall, Menifee Union School District offices, Chick Fil-A & many other restaurants
  • Beautifully upgraded and maintained. Impact Church occupies approximately 93% of the building.

OVERVIEW

Stated NOI begins October 1, 2026 and assumes Impact Church Base Rent of $1.36/sf/month (Modified Gross). Rent for Impact Church remains flat between 04-01-2026 and 03-31-2028. 2.0% annual increases follow thereafter. Impact Church signed a new 5-year lease that will not expire until 03-31-2031. Impact Church has NO options to extend lease beyond 03-31-2031. NOI assumes 93% Impact Church real estate tax exemption (pending). NOI based on Base Rent from Impact Church of $1.36/sf/month (Modified Gross) beginning 10-01-2026. Rent from 04-01-2026 through 09-30-2026 for Impact Church is temporarily reduced to $1.17/sf/month (Modified Gross). Impact Church Base Rent increases to $1.59/sf/month (Modified Gross) if church tax exemption is disallowed by County of Riverside. Impact Church tenant reportedly spent $1.1 million (excluding approximately $200,000 of donated electrical work) on Tenant Improvements. Two tenants in building (Impact Church, 15,385sf: 5-year lease extension began 04-01-2026) & (Menifee Teacher's Association, 1,089sf: lease is Month-to-Month).

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$293 USD /SF

CAP RATE

5.08%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

undefined, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2003

UTILITIES

Gas - Natural, Water - City, Sewer - City

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.93

LAND SF

40,511

ZONING

SP

APN/PARCEL ID

336-380-016

ASK ABOUT THIS PROPERTY

Steven Fontes, CCIMMission Property Advisors, Inc.More Info
951-640-5616

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Steven Fontes, CCIMMission Property Advisors, Inc.More Info
951-640-5616

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