For Sale
$5,389,445

26545 Highland AveHighland, CA 92346

High-yield retail investment, CA.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a newly renovated 20,042 square foot Ross Dress for Less located in Highland, California. The property sits on a 2.03-acre lot (APN: 1191-241-35) and benefits from a brand-new 10-year net lease (NNN) with four 5-year options, commencing November 1, 2024. The tenant, Ross Dress for Less, Inc., is a credit-rated, Fortune 500 company with a strong financial profile. The property features a newly renovated building (1995, renovated 2024) including roof, HVAC, façade, and signage improvements. The lease structure is a triple-net lease (NNN), meaning the tenant is responsible for all property expenses including common area maintenance, property taxes, and insurance, minimizing landlord responsibilities. This strategically located shopping center is situated adjacent to a high-performing Food 4 Less grocery store, further enhancing its desirability and profitability. The asking price is $5,389,445, representing a price per square foot of $268.91 and a 5.95% cap rate with a current NOI of $320,672. The property is zoned for general commercial use and offers an exceptional opportunity for long-term, passive income generation. The store opening is scheduled for October 2024. This below-replacement-cost asset presents a compelling investment opportunity in a strong retail location.

Highlights

  • New 10-year NNN lease with Ross Dress for Less, including four 5-year options; store opening October 2024.
  • Investment-grade tenant: Ross Stores, Inc. (NASDAQ: ROST), a Fortune 500 company with a BBB+ S&P credit rating.
  • High-traffic location adjacent to a high-performing Food 4 Less grocery store with a fuel center.
  • Triple-net (NNN) lease structure; tenant responsible for all operating expenses, minimizing landlord responsibilities.
  • Newly renovated building (1995, renovated 2024) with roof, HVAC, façade, and signage improvements.
  • Below-replacement-cost asset; difficult to replicate at the asking price given location and tenant.

Property Details for 26545 Highland Ave

Property type
Lifestyle centers, Power centers
Square Feet
20,042 SF
Year Built/Renovated
1995/2024
Lot Size (sq. ft)
88,427 SF

Location Insight

City
Highland
County
San Bernardino
State
California
Latitude
34.1344594
Longitude
-117.2245276
26545 Highland Ave, Highland, California

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26545 Highland Ave
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