The subject property consists of close to 8,000 sq. ft building size with 5 seasoned retail tenants at 100% occupancy. The property is located on a busy middle corner and enjoys ample back lot parking. Neighboring retail strip centers include popular named tenants Big Lots, Food 4 Less, CVS and Stater Bros Markets. The Subject Property also benefits from excellent visibility, adjacent residential housing and moderate to high traffic intersection, and strong historical occupancy rates.
Currently tenant rents are at an average rent per sq. ft. of only $1.66 per sq. ft. GROSS. With the potential to increase rents to market levels, the investor will realize current stability and substantial upside in this investment.
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