For Sale
$20,764,000

8844 Limonite AveJurupa Valley, CA 92509

Grocery-anchored center, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 78,825-square-foot retail center in Jurupa Valley, CA, presents a compelling investment opportunity. Located at 8844 Limonite Ave, 92509, this multi-tenant property boasts a 95% occupancy rate and a strong NOI of $1,349,671, yielding a 6.50% cap rate. The asking price is $20,764,000, translating to $263 per square foot. Built in 1980 and renovated in 2014, the center sits on a 7-acre lot (APN: 163-042-069) and features 15 tenants. Key anchors include a Walmart Neighborhood Market and Dollar Tree, representing 68% of the gross leasable area (GLA) under corporate leases. Other tenants include Little Caesars Pizza, Yum Yum Donuts, La Michoacana Premium, and Cricket Wireless. A significant portion (73%) of the GLA is occupied by creditworthy national and regional brands. Current rents are approximately 23% below market rates, offering substantial upside potential for rental growth. The center benefits from a hard corner location at a signalized intersection on Limonite Avenue (25,500+ cars per day) and Collins Street, with proximity to Van Buren Boulevard (48,400+ cars per day) and the Metrolink Jurupa Valley/Pedley station. This well-positioned, grocery-anchored center offers a rare opportunity in the Southern California market.

Highlights

  • $20,764,000 asking price for a 78,825 square foot retail center in Jurupa Valley, CA.
  • Multi-tenant property with 15 tenants, including Walmart and Dollar Tree as anchors.
  • 6.50% cap rate with a Net Operating Income (NOI) of $1,349,671 and 95% occupancy.
  • 7-acre lot with a strong tenant mix of national, regional, and local businesses.
  • Located on a hard corner with high traffic counts (Limonite Ave: 25,500+ CPD, Van Buren Blvd: 48,400+ CPD), near Metrolink station.

Property Details for 8844 Limonite Ave

Property type
Lifestyle centers, Power centers
Square Feet
78,825 SF
Year Built/Renovated
1980/2014
Lot Size (sq. ft)
304,920 SF

Location Insight

City
Jurupa Valley
County
Riverside
State
California
Latitude
33.9742744
Longitude
-117.4768357
8844 Limonite Ave, Jurupa Valley, California

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8844 Limonite Ave
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