Indio Plaza Retail FOR SALE


Indio, CA
$29,769,000 USD
949-725-8507
, Indio, CA for Sale
$29,769,000 USD
Retail - FOR SALE
1/6
null | 6.6% Cap Rate

Indio Plaza
Indio, CA


HIGHLIGHTS

  • Neighborhood Grocery Anchored Shopping Center – 94% leased Food 4 Less anchored neighborhood shopping center
  • High Credit Tenancy – 70% of the GLA is leased to national or regional credit tenants
  • Below Market Rents, Strong Intrinsic Value – On average, CBRE estimates property-wide rents are approximately 8% below prevailing rates
  • Excellent Street Access and Visibility – Dominant grocery anchored shopping center offering excellent access and visibility along Highway 111
  • Attractive Assumable Financing – Assumable loan terms: $13,000,000 balance, 4.25% interest rate

OVERVIEW

* Neighborhood Grocery Anchored Shopping Center – 94% leased Food 4 Less anchored neighborhood shopping center, generating exceptional sales volumes, providing a “daily needs” draw and cross-shopping traffic to the offering * Food 4 Less – Wholly owned subsidiary of Kroger Company, which has a market capitalization of approximately $45.67 billion, a revenue of $147.12 billion, an S&P rating of BBB, and 2,726 locations * High Credit Tenancy – 70% of the GLA is leased to national or regional credit tenants, including: Food 4 Less (Kroger), dd’s Discounts (Ross Stores), Denny’s, Sally Beauty, Flame Broiler and Subway * Below Market Rents, Strong Intrinsic Value – On average, CBRE estimates property-wide rents are approximately 8% below prevailing rates, including Food 4 Less currently paying $1.05 psf/month (12% below market rates), creating a lower basis in the property with strong intrinsic value and future rental upside * Excellent Street Access and Visibility – Dominant grocery anchored shopping center offering excellent access and visibility along Highway 111 (±29,100 cars per day), the main arterial in the trade area as well as Monroe Street (±20,200 cars per day), which provides immediate access to I-10 (±73,900 cars per day) * Attractive Assumable Financing – Assumable loan terms: $13,000,000 balance, 4.25% interest rate, currently interest-only until March 2027, and maturing February 2032. Property will be available with Assumable Financing or Market Financing

ASK ABOUT THIS PROPERTY

Jimmy SlusherCBRE, Inc.More Info
949-725-8507

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Jimmy SlusherCBRE, Inc.More Info
949-725-8507

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