Retail Property in Historic Lake
For Sale
$740,000
119 W Peck, Lake Elsinore, CA 92530
Retail property with tenant in Lake Elsinore's shopping district.
Property Size3,200 SF
Price / SF$231.25
Days on Market214
Property Features for 119 W Peck
General Information
Standard status
Active
Size
3,200 SF
Building Details
Year Built
1935
Listing Agency:
Mark 1 Real Estate, Inc.
Listed By:
Teri Heuer · License #01202023
(951) 640-2923
Source:
Myfabuloushome
Added: Mar 12
Changed: Sep 12
Last Checked: Oct 7 at 4:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mark 1 Real Estate, Inc.
Investment Insights
Based on property information with market context.
This commercial real estate property features a spacious, open interior. It has historically been used as an antique boutique. The current tenant is operating under a month-to-month lease and has expressed interest in remaining on the property after its sale, subject to the new owner's discretion. Located in Lake Elsinore, the property benefits from its location within a historic community known for its numerous shops along Main Street, attracting shoppers. The area also draws water sports enthusiasts and fishing fans due to the presence of the lake.
Key Highlights
- Spacious open interior.
- Tenant interested in remaining after sale (month‑to‑month lease).
- Located in historic Lake Elsinore.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,868
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,360
$917.4K
Cap Rate 7%
$655,257
$655.3K
Cap Rate 9%
$509,644
$509.6K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$69.1K $21.60/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$65.5K $20.48/SF
− OpEx
−$19.7K −$6.14/SF
NOI
$45.9K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,360
Cap Rate 7%
$655,257
Cap Rate 9%
$509,644
Alternative Uses
Best Use
Retail
$655.3K
$573.4K – $764.5K
NOI $45,868 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.7K
$838.8K – $1.12M
NOI $67,107 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Graham Florist & Flower Delivery Lake Elsinore CA — 119 W Graham Ave, Lake Elsinore, CA 92530
- Tulips Trophies & Treasures — 159 N Main St, Lake Elsinore, CA 92530
Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with tenant in Lake Elsinore's shopping district.
Where is this storefront property located?
The property is located at 119 W Peck Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Spacious open interior.; Tenant interested in remaining after sale (month‑to‑month lease).; Located in historic Lake Elsinore.
