For Sale
$2,600,000

2102 Palm AveHighland, CA 92346

17,200 SF Shopping Center, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
Highland Plaza, located at 2102 Palm Ave, Highland, CA 92346, presents a compelling value-add opportunity in the thriving San Bernardino County market. This 17,200 square foot shopping center boasts a multi-tenant occupancy of 71%, comprising 10 units across three buildings. The property features a classic strip center design with a two-story office building, strategically situated on a 120-foot frontage along Palm Avenue, near a major intersection. Built in 1980, the property offers a strong existing tenant base, providing a solid foundation for future growth. The asking price is $2,600,000, representing a price per square foot of $151.16 and a 4.86% cap rate based on a current Net Operating Income (NOI) of $126,300. The property includes 50 parking spaces. Leases are gross, with no tenant credit rating currently available. The current lease expiration date is May 31, 2024, resulting in zero remaining lease term. The property's location offers convenient access to Interstate 210, enhancing its visibility and accessibility. This property is identified by APN 1191-301-06-000. The investment highlights include its prime location and the potential for significant value appreciation through lease renewals and property improvements. This is an exceptional opportunity for investors seeking a strong return on investment in a desirable location.

Highlights

  • $2,600,000 asking price for a value-add retail investment opportunity.
  • 17,200 square foot shopping center with 10 units, currently 71% occupied.
  • Gross lease structure with no tenant credit rating; leases expire 05/31/2024.
  • $126,300 Net Operating Income (NOI) yielding a 4.86% cap rate and a price per square foot of $151.16.
  • Located at 2102 Palm Ave, Highland, CA 92346, a 120-foot frontage on Palm Ave near a main intersection with strong surrounding tenants.
  • Three buildings, two stories, built in 1980, with 50 parking spaces and APN 1191-301-06-000.

Property Details for 2102 Palm Ave

Property type
Lifestyle centers, Power centers
Square Feet
17,200 SF
Year Built
1980
Buildings
3
Stories
2
Units
10

Location Insight

City
Highland
County
San Bernardino
State
California
Latitude
34.1344178
Longitude
-117.2091497
2102 Palm Ave, Highland, California

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2102 Palm Ave
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