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WILDOMAR RETAIL CENTER
22812 PALOMAR STREET | WILDOMAR, CA 92595
A NET LEASED OFFERING
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100% LEASED RETAIL CENTER22812 PALOMAR RD | WILDOMAR, CA
$2,749,000
PRICE
LEASABLE SF
9,617 SF
LEASE EXPIRATIONS:
ANGEL VIEW10/31/2023
SNS NAILS3/31/2022
TRIBE SALON7/31/2022
ALL NEWER LEASES WITH OPTIONS
ANNUAL INCREASES FOR ALL THREE TENANTS
STRONG DAYTIME TRAFFIC
THE PROPERTY IS IN A FAST GROWING TRADE AREA WITH STRONG DEMOS
$95,0000 + HOUSEHOLD INCOME
BUILT
2008SHOPPING CENTER PARKING
65 (6.78/1,000 SF)
LAND AREA
1.51 ACLEASE TYPE
ABSOLUTE NNN
6.24%CAP
OVERVIEW
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INVESTMENT HIGHLIGHTS CONTACT THE TEAM
NICK [email protected]: 951.445.4522DRE # 01932821
NICK [email protected]: 951.445.4528DRE # 1916982
THE OFFERING is a 3-Tenant retail building in Wildomar, CA with new absolute NNN leases in place featuring zero Landlord management or maintenance expenses. It is located on a signalized corner featuring excellent visibility along Clinton Keith Blvd., with over 18,000+ VPD. The subject property is located in a Rite Aide anchored center and is the only drugstore anchored center in the immediate vicinity.
THE SUBJECT PROPERTY is located in Wildomar, California, which is an incorporated City within Riverside County, California boasting a median income of over $77,000 and a population of over 36,000 in 2016. Wildomar is the home of the Inland Valley Medical Center and several residential housing projects that are in various stages of City approval and development with the median home price at ±$406,600.
No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 | Corporate ID# 01048055
BRIAN [email protected]: 951.445.4515DRE # 01269887
WASHINGTON AVE
KA
LMIA
ST
JEFFERSON AVE
15
NUT
MEG
ST
CLINTO
N KEIT
H RD
JACKSON AVECAL O
AKS RD
WILDOMARRETAIL
CENTER
PALOMAR ST
BEARCREEK
THEBARN
BEARVALLEYPLAZA
COLECANYON
MURRIETAVALLEY
H.S.
MURRIETAMESAH.S.
E. HALECURRAN
E.S.
SHIEVELAM.S.
MURRIETAE.S.
THOMPSONM.S.
SANTA ROSAAPARTMENTS
OAK SPRINGSRANCH
APARTMENTS
KALMIAPLAZA TOWN
SQ.
OLIVEWOOD
GRANDISLE SENIOR
HOMES
HANCOCK AVE
INLANDVALLEY
MEDICALCENTER
16,000CPD
131,000CPD
7,000CPD
10,000CPD
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AERIAL
WILDOMARRETAIL
CENTER
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“THE CITY OF WILDOMAR WILL BE A SAFE AND ACTIVE COMMUNITY, RESPONSIBLY GROWN, WITH QUALITY INFRASTRUCTURE WHILE KEEPING A HOMETOWN FEEL”
THE INLAND EMPIRE is a metro area east of Los Angeles and composed of Riverside County and San Bernardino County. The Inland Empire is one of the fastest growing regions in California with over 4.5 million residents and a job market projecting positive growth between 2016-2026.
WILDOMAR Wildomar is a city in Riverside County, California, United States. It was incorporated on July 1, 2008.[1] The city is located in a fast-growing area. As of the 2010 census, the population of Wildomar was 32,176, an increase from 14,064 at the 2000 census, when the community was still an unincorporated census-designated place.
RIVERSIDE is a city in Riverside County, California, United States, located in the Inland Empire metropolitan area. Riverside is the county seat of the eponymous county and named for its location beside the Santa Ana River. It is the most populous city in the Inland Empire and in Riverside County, and is located about 55 miles (89 km) east of downtown Los Angeles
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RETAILERS IN CLOSE PROXIMITY INCLUDE:
BUSINESS SUMMARY
SUBMARKET OVERVIEW
7-ELEVEN
ARCO
BARONS MARKET
BEAN COFFEE ROASTERS
CHASE BANK
DEL TACO
DENNY’S
DUNKIN DONUTS
EL POLLO LOCO
FARMERS INSURANCE
FITNESS 19
GREAT CLIPS
JACK IN THE BOX
MCDONALD’S
PANDA EXPRESS
SHELL
SPRINT
TACO BELL
THE HABIT
YELLOW BASKET
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
TOTAL 1-MILE 3-MILES 5-MILES
BUSINESSES 336 1,138 3,226
EMPLOYEES 2,343 7,689 25,714
RESIDENTIALPOPULATION
6,888 60,535 123,796
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INCOME & EXPENSE
PRICE $2,749,000
Price Per Square Foot: $285.85
Capitalization Rate: 6.24%
Total Rentable Area (SF): 9,617
STABILIZED INCOME PER SQUARE FOOT
Scheduled Rent See full offering memorandum for detailsEffective Gross Income
LESS PER SQUARE FOOT
Taxes Tenant Paid
Insurance Tenant Paid
Total Operating Expenses Tenant Paid
TOTAL LANDLORD EXPENSES $0.00 $0
EQUALS NET OPERATING INCOME See full offering memorandum for details
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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RENT ROLL
ANGEL VIEW: ±6,345 SF11/01/2018 – 10/31/2019
See full offering memorandum for
details
11/01/2019 – 10/31/2020
11/01/2020 – 10/31/2021
11/01/2021 – 10/31/2022
11/01/2022 – 10/31/2023
ONLY SNS NAILS: ±1,580 SF04/01/2019 – 03/31/2020
04/01/2020 – 03/31/2021
04/01/2021 – 03/31/2022
04/01/2022 – 03/31/2023
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
One (1) Sixty (60) month option FMV but not to be less than 103% of the immediately preceding month’s base annual Rental Rate with 3% annual increases thereafter.
This Angel View location has the highest average donations of all locations in the region.
TRIBE SALON: ±1,692 SF08/01/2018 – 07/31/2019
See full offering memorandum for
details
08/01/2019 – 07/31/2020
08/01/2020 – 07/31/2021
08/01/2021 – 07/31/2022
4% annual increases throughout initial term and 3% annual increases throughout the option term.
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LEASE ABSTRACT
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
LEASE PROVISIONS
PREMISE & TERM
RENTBASE RENT
ANGEL VIEW:
DATE RANGE MONTHLY RENT
ANNUAL RENT
11/01/2018 – 10/31/2019
See full offering memorandum for details
11/01/2019 – 10/31/2020
11/01/2020 – 10/31/2021
11/01/2021 – 10/31/2022
11/01/2022 – 10/31/2013
BASE RENT
ONLY SNS NAILS:
DATE RANGE MONTHLY RENT
ANNUAL RENT
04/01/2019 – 03/31/2020
See full offering memorandum for details
04/01/2020 – 03/31/2021
04/01/2021 – 03/31/2022
04/01/2022 – 03/31/2023
BASE RENT
TRIBE SALON:
DATE RANGE MONTHLY RENT
ANNUAL RENT
08/01/2018 – 07/31/2019
See full offering memorandum for details
08/01/2019 – 07/31/2020
08/01/2020 – 07/31/2021
08/01/2021 – 07/31/2022
THE LEASE IS ABSOLUTE NNN WITH ZERO LANDLORD MANAGEMENT / MAINTENANCE EXPENSES
TENANT’S OBLIGATIONS - All
LANDLORD’S OBLIGATIONS - None
ASSIGNMENT - Only with written Landlord approval (see lease)
RIGHT OF FIRST OFFER - None
TENANTS Angel ViewOnly SNS NailsTribe Salon
BUILDING SF ±9,617 SF
LEASE TYPE Absolute Net
NAPOnlySNSNails
TribeSalon
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SITE PLAN
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
WILDOMAR
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DEMOGRAPHICS
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
POPULATION
1-MILE 3-MILES 5-MILES2010 4,781 53,589 109,882
2018 6,888 60,535 123,796
2023 7,301 64,273 131,934
2018 HH INCOME
1-MILE 3-MILES 5-MILESAVERAGE $89,080 $95,096 $92,765
MEDIAN $86,448 $84,738 $80,772
TOP EMPLOYERS IN RIVERSIDE COUNTY
EMPLOYER # OF EMPLOYEESCounty of Riverside 22,538
University of California, Riverside 8,686
March Air Reserve Base 8,500
Amazon 7,500
Kaiser Permanente Riverside Medical Center
5,739
THE AVERAGE HOUSEHOLDINCOME WITHIN A 5-MILE RADIUS
IS OVER $93K
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LOCATION OVERVIEWWILDOMAR
CALIFORNIA
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
WILDOMAR is a community of old and new, more mature homes and acreages with horses and other animals mixed with more modern housing tracts. Nestled between the cities of Murrieta and Lake Elsinore, Wildomar officially became a city on July 1, 2008, at that time home to about 28,000 residents.
The name Wildomar was coined from the names of its three founders -- the WIL from William Collier, the DO from Donald Graham and the MAR from Margaret Collier Graham.
Wildomar had been an outpost for the pony express for the Butterfield Stage, and in the early part of this century, a stop for the Southern California Railroad. After the tracks washed out, growth in the area slowed and Wildomar remained a farming and ranching area, including a large number of horse ranches.
Construction of the I-15 freeway brought urban-type growth to Wildomar, which led to the mixture of urban and rural. Wildomar Incorporation Now, commonly known as WIN, led the effort to incorporate. Its office was in a small, unassuming historic building near the corner of Mission Trail and Corydon. It is one of the oldest public buildings in the area.
Currently leased by the Wildomar Chamber of Commerce, the building has served the community in one capacity or another for over 100 years. Originally on Lemon Street, the building was moved to its present location in 1895 — selected because the railroad tracks ran behind the building. The building was to be a stop for the railroad. Once the railroad no longer ran through Wildomar, the building found other uses. In 1993, the Animal Friends of the Valleys and the chamber brought the building back into a serviceable condition. These two agencies have shared the building ever since.
INLAND EMPIRE
The Inland Empire is located east of Los Angeles with a population exceeding 4.5 million residents. The Inland Empire is now one of the nation’s fastest growing economies, and Riverside-San Bernardino-Ontario is now America’s 13th largest MSA, ahead of Seattle, San Diego, and Denver. The Inland Empire has been California’s fastest growing region for decades – largely due to various housing booms and the exploding logistics/ warehousing industry. Due to the high costs of Los Angeles, many residents move east and commute into Los Angeles County.
CONTACT THE TEAM
NICK [email protected]: 951.445.4522DRE # 01932821
NICK [email protected]: 951.445.4528DRE # 1916982
BRIAN [email protected]: 951.445.4515DRE # 01269887
No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 | Corporate ID# 01048055
25240 Hancock Avenue, Suite 100 | Murrieta, CA 92562 | 951.445.4500 | lee-associates.com
No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 Corporate ID# 01048055