18310 Collier AveLake Elsinore, CA 92530

Property Details for 18310 Collier Ave

Year built

2019

Lot size

0.44 AC

Property size (Sq ft)

3,530 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional fee-simple investment opportunity presents a 3,530 square-foot, two-tenant retail pad building in Lake Elsinore, California. Located at 18310 Collier Ave, this property boasts 100% occupancy with Pieology and Ono Hawaiian BBQ as tenants, both established regional brands with significant growth potential. The building, constructed in 2019, is situated on a 0.44-acre lot and benefits from a triple-net (NNN) lease structure with a 10-year term and built-in rent bumps, providing a hedge against inflation. A significant rent increase for Pieology is scheduled for January 2027. The property enjoys exceptional visibility and accessibility, with over 50,000 vehicles daily on Hwy 74 and over 130,000 on Interstate 5. Its strategic location as an outparcel to Central Plaza, alongside major retailers like Marshalls, ULTA Beauty, Target, Home Depot, and Costco, ensures high foot traffic and consumer engagement. The property offers a 5.00% cap rate and a strong NOI of $142,074, making it an attractive investment with significant long-term growth potential. The property's APN is 377-081-003 and is zoned for commercial use. Lease options are available for both tenants. The robust demographics of the area, including a growing population and high average household income, further enhance the property's investment appeal. The active development landscape in Lake Elsinore signals continued growth and appreciation potential.

Location Insight

City

Lake Elsinore

County

Riverside

State

California

Latitude

33.6907

Longitude

-117.339

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