San Dimas Station
31,062 SF | 80% Leased | Retail Building | San Dimas, CA 91773 | $7,475,000 ($241/SF) | 4.12% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,475,000
- Property Type
-
Retail
- Square Feet
- 31,062 SF
- Price / Square Foot
- $241
Listing Contacts
Anthony Le
Verified Profile
- Property Info
Property Overview
The San Dimas Western Station comprises six individual retail units, totaling 31,062 square feet, and was constructed in 1989 on a 0.63-acre lot. Presently, the property houses various tenants, including Boot Barn, Stubborn Mule Sports Bar, Sushiya Sushi, and an investment firm. Notably, two units, totaling 5,850 square feet, are currently vacant, presenting a favorable opportunity for prospective buyers.
Property Details
- Class
- C
- Year Built
- 1989
- Stories
- 2
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 27,443 SF
Highlights
- Attractive upside in potential income with a ProForma CAP Rate of 5.52%. Significant NOI growth through leasing-up the vacant space & as leases roll.
- Below market, replaceable rents create an excellent value-add opportunity. Neighboring leases rates demonstrate a market between $1.75-$2.50 PSF.
- Currently property wide rents are averaging just $1.61 PSF/month. Existing rents will be easily replaced or improved as leases roll.
- Current Occupancy of 80%. Neighboring rental comparables illustrate a 85% - 90% occupancy area.
- Priced below replacement cost @ ($263.53 PSF) / Possible SBA 10% down financing available for well qualified buyers. Please call to inquire.
- Traffic counts exceed 35k cars/day / Ample on-site parking (No parking ownership). Common area maintenance paid to the owners association.
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