300 Highland Springs AveBanning, CA 92220

Property Details for 300 Highland Springs Ave

Year built

2016

Property size (Sq ft)

97,380 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 97,380 square-foot retail center in Banning, California, presents a compelling value-add opportunity. Located at 300 S Highland Springs Ave, this property boasts a prime location with high visibility from Highland Springs Avenue (23,300 vehicles per day) and the I-10 Freeway (275,000+ vehicles per day), enhanced by a monument sign and a 65-foot freeway sign. The center is anchored by three national, investment-grade tenants: Marshalls, Hobby Lobby, and Big 5 Sporting Goods, operating under net leases. Currently at 80% occupancy, the property offers significant upside potential with 20,020 square feet of leasable space available at market rents of $1.25 per square foot, compared to the current blended average of $0.80 per square foot. Built in 2016, this multi-tenant property features a total of four units and sits on a 7.79-acre parcel. The asking price is $9,100,000, representing a 6.84% cap rate and a pro-forma cap rate of 10.14%. The property's strong NOI of $622,542 and pro-forma NOI of $922,842 further highlight its investment potential. The surrounding Beaumont and Banning trade area is experiencing robust residential growth, with over 7,000 new homes recently built and thousands more planned, fueling increased retail demand. This property's strategic location, strong tenant base, and significant value-add potential make it an ideal investment for discerning buyers. The property's APN is 419-140-064.

Location Insight

City

Banning

County

Riverside

State

California

Latitude

33.9238

Longitude

-116.946

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].