Divisible Former Drug
For Sale
$3,200,000
1605 S San Jacinto Ave., San Jacinto, CA 92583
Former Rite Aid space offers potential for divisibility up to 8,000 SF.
Property Size16,917 SF
Days on Market96
Property Features for 1605 S San Jacinto Ave.
General Information
Standard status
Active
Size
16,917 SF
Property subtype
Retail
Building Details
Building Size
16,917 SF
Year Built
1999
Listing Agency:
Lee & Associates
(951) 445-4515
Listed By:
Brian Bielatowicz · License #CalDRE #01269887
Source:
Lee-associates
Added: May 27
Changed: Aug 14
Last Checked: Aug 29 at 6:39AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This property is a former Rite Aid location available for sale. The space has been identified as potentially divisible to accommodate up to 8,000 SF, offering flexibility for multiple tenants or reconfiguration based on an owner’s needs.
The offering is for the retail property at 1605 S. San Jacinto Ave., San Jacinto, CA 92583. No additional site or building details were provided in the available information.
Interested parties should confirm the actual divisibility layout and any required approvals during due diligence.
The offering is for the retail property at 1605 S. San Jacinto Ave., San Jacinto, CA 92583. No additional site or building details were provided in the available information.
Interested parties should confirm the actual divisibility layout and any required approvals during due diligence.
Key Highlights
- Former Rite Aid available for occupancy or reuse
- Built in 1999
- Potentially divisible to approximately 8,000 SF
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
$242,484
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
7.58%
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%
$4,849,680
$4.8M
Cap Rate 7%
$3,464,057
$3.5M
Cap Rate 9%
$2,694,267
$2.7M
Market Conditions
NOI Build-Up for 16,917 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
$365.4K $21.60/SF
− Vacancy
−$19.0K −$1.12/SF
EGI
$346.4K $20.48/SF
− OpEx
−$103.9K −$6.14/SF
NOI
$242.5K $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%
$4,849,680
Cap Rate 7%
$3,464,057
Cap Rate 9%
$2,694,267
Alternative Uses
Best Use
Retail
$3.46M
$3.03M – $4.04M
NOI $242,484 @ 7.0% cap · market cap 7.58%
Second Best
Specialty Retail
$3.05M
$2.67M – $3.56M
NOI $213,306 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,763 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
431k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 28%
Groceries 27%
Dining 27%
Shops & Services 9%
Walmart
Superstores
120,721 visits/mo
0.3 miles
Cardenas Market
Groceries
49,124 visits/mo
0.2 miles
Stater Bros. Markets
Groceries
45,913 visits/mo
0.1 miles
Starbucks
Dining
32,593 visits/mo
0.1 miles
Aldi
Groceries
20,637 visits/mo
0.1 miles
Demographics for 92583, CA
34,674
Population
10,397
Households
3.3
Avg Household Size
34
Median Age
13%
College-Educated
78%
High-School Grad
29.1 sq mi
ZIP Area
1,192
Density / Sq Mi
$63,582
Median Household Income
$37,128
Median Earnings
$1,501
Median Rent
$339,500
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.
Similar Off Market Nearby
- Leigh Ann Ratliff, PharmD — 1811 S San Jacinto Ave, San Jacinto, CA 92583
- Walgreens Pharmacy — 1811 S San Jacinto Ave, San Jacinto, CA 92583
- Walmart Pharmacy — 1861 S San Jacinto Ave, San Jacinto, CA 92583
- Rite Aid Pharmacy — 1605 S San Jacinto Ave, San Jacinto, CA 92583
- Pamela Hung, PharmD — 1605 S San Jacinto Ave, San Jacinto, CA 92583
Frequently Asked Questions
What type of property is this?
Drug store - Former Rite Aid space offers potential for divisibility up to 8,000 SF.
Where is this drug store located?
The property is located at 1605 S San Jacinto Ave. San Jacinto, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Former Rite Aid available for occupancy or reuse; Built in 1999; Potentially divisible to approximately 8,000 SF
