30252 Haun RdMenifee, CA 92584

Property Details for 30252 Haun Rd

Year built

2008

Construction

WOOD

Lot size

7.39 AC

Property size (Sq ft)

89,137 SF

Property type

Retail properties

APN

360-690-022

APU

360690022

Description

This exceptional investment opportunity presents a fee-simple interest in a long-term ground lease with Kohl's, a credit-rated tenant, at Countryside Marketplace in Menifee, California. The property consists of an 88,911 square foot building on a 7.39-acre lot, built in 2008. The absolute NNN ground lease features eight five-year options with 5% rent increases per option, expiring January 31, 2029. The current annual net operating income (NOI) is $415,800, representing a 5.00% cap rate on the asking price of $8,316,000. This represents a price per acre significantly below current land value due to Kohl's responsibility for all building improvements and maintenance. The property is situated within a thriving 721,858 square foot community shopping center, boasting a strong roster of national retailers and high visibility due to its location on Haun Road and proximity to Interstate 215. The surrounding area demonstrates favorable demographics, with a 2023 estimated average household income of $104,225 and a population of 75,452 within a 3-mile radius. This is a rare opportunity to acquire a passive, management-free investment with a top-tier tenant in a dominant market position. The property's location within one of the largest open-air shopping centers in the Inland Empire trade area further enhances its investment appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $36,012,724

  6.5%

  $33,242,516

  7%

  $30,868,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $39,404,320

  Geo Method

  $79,061,344

• Alternative Use

  Use

  Valuation

  Residential

  $28,041,306

  Hospitality

  $25,685,684

  Educational

  $21,370,188

  Medical

  $22,105,142

  Retail

  $33,242,516

Location Insight

City

Menifee

County

Riverside

State

California

Latitude

33.682

Longitude

-117.173

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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