29640 Rancho California RdTemecula, CA 92591
- Retail properties
- 5,362 SF
Property Details for 29640 Rancho California Rd
- Year built
- 1989
- Construction
- WOOD
- Lot size
- 0.81 AC
- Property size (Sq ft)
- 5,362 SF
- Zone code
- C1CP
- Property type
- Retail properties
- Property subtype
- Banks
- APN
- 921-320-045
- APU
- 921320045
Description
This exceptional investment opportunity presents the chance to acquire fee simple ownership (land and building) of a Chase Bank property in Temecula, CA. The property boasts a 5,362 square foot building on a 0.81-acre lot, featuring a drive-thru ATM and ample parking (27 spaces). The property is situated at 29640 Rancho California Rd, Temecula, CA 92591, within the high-traffic Temecula Town Center, attracting over 4.8 million visitors annually. This prime location benefits from excellent visibility and accessibility, with proximity to Interstate 15 on/off ramps. The property is zoned Community Commercial (CC). The Chase Bank tenant, a corporate guaranteed, investment-grade tenant (S&P: A+), holds an absolute NNN lease with a remaining term of 4.9 years, followed by two 5-year renewal options, commencing October 1, 1994, and expiring October 1, 2029. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $289,548 and a 5.50% cap rate. The asking price is $5,265,000. The property's success is further supported by the strong demographics of the 5-mile trade area, boasting an average household income exceeding $137,000 and a significant resident and employee population. Built in 1989, this property offers a stable, low-maintenance investment with significant long-term potential. The property's APN is 921-320-045.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,166,331
- 6.5%
- $1,999,690
- 7%
- $1,856,855
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,370,351
- Geo Method
- $4,755,903
-
Alternative Use
- Use
- Valuation
- Residential
- $1,686,813
- Hospitality
- $1,545,112
- Educational
- $1,285,515
- Medical
- $1,329,726
- Retail
- $1,999,690
Location Insight
- City
- Temecula
- County
- Riverside
- State
- California
- Latitude
- 33.505
- Longitude
- -117.146
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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