Building Details

Year Built 1971

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Lifetime Realty & Investments

Listed By: Tommy Kim · License #01795209 Show Phone

Source: Crexi

Added: Apr 13 Changed: Oct 13 Last Checked: Oct 14 at 11:53PM

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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.

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 / Yr

$37,726

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$754,520 $754.5K

Cap Rate 7%

$538,943 $538.9K

Cap Rate 9%

$419,178 $419.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,632 SF

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 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 (±1% cap)

NOI $37,726 @ 7.0% cap · market cap 7.55%

Second Best

Specialty Retail

$474.1K

$414.8K – $553.1K (±1% cap)

NOI $33,187 @ 7.0% cap · market cap 6.64%

Theoretical Best

Office A

$788.5K

$689.9K – $919.9K (±1% cap)

NOI $55,195 @ 7.0% cap · market cap 11.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Elsinore Middle School High School

Suggested Use

Top Pick Pharmacy (Bike/Boat/Book/etc) Store Law Firm Skin Care Clinic Butcher Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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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