601-751 E Hobson Way - Storefront FOR SALE


Blythe, CA 92225
$4,600,000 USD
951-479-7994
601-751 E Hobson Way, Blythe, CA for Sale
$4,600,000 USD
Storefront - FOR SALE
1/4
null | Request Cap Rate

601-751 E Hobson Way
Blythe, CA 92225


OVERVIEW

Progressive Real Estate Partners is pleased to offer the opportunity to acquire a Smart & Final–anchored, value-add shopping center in Blythe, California. Priced at just $77/SF, the property provides investors with an exceptionally low basis, secure in-place income from a corporate-backed Smart & Final lease with more than seven years of remaining term, and an immediate path to upside through leasing ±31,000 square feet of vacancy, including a ±20,000 square foot junior anchor box and multiple shop spaces. The property is separately parceled, offering flexibility in both repositioning and exit strategy. At stabilization, the asset is projected to generate an attractive 11.8% all-cash yield with an exit value approaching $8.9 million, resulting in an estimated 45% return on investment excluding interim cash flow (68% including interim cash flow).

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$71 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Smart & Final Value-Add Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

228

LAND DETAILS

CROSS STREETS

7th Street

LAND ACRES

4.44 AC

LAND SF

193,406 SF

ZONING

C2

APN/PARCEL ID

845-170-004,845-170-006,845-170-007,845-170-008

ASK ABOUT THIS PROPERTY

Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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