Freestanding Convenience
For Sale
Contact for pricing
1203 W Graham Ave, Lake Elsinore, CA 92530
Single-story retail building with C-1 zoning and an active Beer & Wine license.
Property Size2,632 SF
Lot Size0.47 Acres
Price / SF$189.97
Days on Market141
Property Features for 1203 W Graham Ave
General Information
Standard status
Active
Size
2,632 SF
Class
C
Lot size
0.47 Acres
Property subtype
Retail
Zoning
C1
Additional Details
Asking Price
$500,000
Liquor License
Yes
Building Details
Year Built
1971
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Lifetime Realty & Investments
(714) 728-6564
Listed By:
Tommy Kim · License #01795209
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 4:14AM
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 Lifetime Realty & Investments
Investment Insights
Based on property information with market context.
This freestanding retail property includes a single-story building measuring approximately 2,632 square feet on an approximately 20,473-square-foot lot, or 0.47 acres. Built in 1971, the building is currently configured for convenience-store operations and includes an active Beer & Wine license. The existing retail layout supports continued neighborhood-serving use, subject to applicable approvals.
The property is located in Lake Elsinore near Lake Elsinore State Beach, the public boat launch, and Old Town. Its C-1 Neighborhood Commercial zoning provides a commercial framework for the existing operation and other neighborhood retail concepts allowed under applicable regulations.
The property is located in Lake Elsinore near Lake Elsinore State Beach, the public boat launch, and Old Town. Its C-1 Neighborhood Commercial zoning provides a commercial framework for the existing operation and other neighborhood retail concepts allowed under applicable regulations.
Key Highlights
- Approximately 2,632 SF single‑story freestanding retail building
- Approximately 20,473 SF lot, or 0.47 acres
- Currently configured as a convenience store
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$754,520
$754.5K
Cap Rate 7%
$538,943
$538.9K
Cap Rate 9%
$419,178
$419.2K
Market Conditions
NOI Build-Up for 2,632 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.9K $21.60/SF
− Vacancy
−$3.0K −$1.12/SF
EGI
$53.9K $20.48/SF
− OpEx
−$16.2K −$6.14/SF
NOI
$37.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$754,520
Cap Rate 7%
$538,943
Cap Rate 9%
$419,178
Alternative Uses
Best Use
Retail
$538.9K
$471.6K – $628.8K
NOI $37,726 @ 7.0% cap · market cap 7.55%
Second Best
Specialty Retail
$474.1K
$414.8K – $553.1K
NOI $33,187 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$788.5K
$689.9K – $919.9K
NOI $55,195 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-story retail building with C-1 zoning and an active Beer & Wine license.
Where is this grocery and convenience store located?
The property is located at 1203 W Graham Ave Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Approximately 2,632 SF single‑story freestanding retail building; Approximately 20,473 SF lot, or 0.47 acres; Currently configured as a convenience store
