1925 Garey AvePomona, CA 91766

Property Details for 1925 Garey Ave

Year built

1970

Lot size

0.65 AC

Property size (Sq ft)

5,400 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This freestanding discount store in Pomona, CA offers a compelling net lease investment opportunity. The 5,400 square foot building sits on a 0.65-acre lot with 22 parking spaces and is located at the signalized intersection of Garey Avenue and Lexington Avenue, boasting approximately 32,400 vehicles per day. Built in 1970, the property features prominent pylon signage and benefits from its proximity to the 60 and 71 freeways, within 5 minutes of freeway on/off ramps. The current tenant has approximately 13 years remaining on their lease, including one 5-year option. The property's zoning (POC4 - Neighborhood Commercial) allows for potential redevelopment into a multi-tenant retail strip, gas station, drive-through restaurant, or other commercial uses. The asking price is $2,295,000, representing a 4.52% cap rate and a NOI of $103,734. The property's strong location, existing lease, and redevelopment potential make it an attractive investment. The APN is 8344-023-034. Potential buyers should conduct their own due diligence regarding redevelopment options. The property is situated in a densely populated area, with approximately 1,373,000 people within a 5-mile radius.

Location Insight

City

Pomona

County

Los Angeles

State

California

Latitude

34.0366

Longitude

-117.75

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