Neighborhood Retail Center with
For Sale
Contact for pricing
1525 East Ontario Avenue, Corona, CA 92881
Neighborhood retail center anchored by a long-term Starbucks NNN lease, with multi-tenant strip components and multiple acquisition options.
Property Size42,532 SF
Lot Size5.87 Acres
Price / SF$374.89
Days on Market51
Property Features for 1525 East Ontario Avenue
General Information
Standard status
Active
Size
42,532 SF
Total Parking Spaces
230
Lot size
5.87 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
89%
Investment Type
Stabilized
Net Operating Income
$846,209
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2006
Buildings
4
Tenancy
Multi
Listing Agency:
CBRE LA
Listed By:
Jenny Eng · License #CA 01931224
(239) 631-8788
Source:
Crexi
Added: Jul 20
Changed: Aug 28
Last Checked: Sep 8 at 6:30AM
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 CBRE LA
Investment Insights
Based on property information with market context.
Corona Cerrito Plaza is a neighborhood retail center built in 2006, spanning seven parcels and totaling approximately 42,532 square feet. The property includes a multi-tenant strip designated as Building D (19,033 SF) and Buildings F and G combined (16,349 SF), along with a Starbucks pad of approximately 1,700 SF under a long-term NNN lease through April 2047. A J4K Preschool pad of approximately 5,450 SF is also included.
The center is located at a signalized intersection of E. Ontario Avenue and the I-15 on/off ramps in Corona, California. The site provides direct freeway visibility with pylon sign positioning along I-15 and frontage on E. Ontario Avenue.
This offering is structured to accommodate four distinct acquisition profiles, with each component available individually or as part of a broader portfolio.
The center is located at a signalized intersection of E. Ontario Avenue and the I-15 on/off ramps in Corona, California. The site provides direct freeway visibility with pylon sign positioning along I-15 and frontage on E. Ontario Avenue.
This offering is structured to accommodate four distinct acquisition profiles, with each component available individually or as part of a broader portfolio.
Key Highlights
- Neighborhood retail center built in 2006 totaling 42,532 SF across seven parcels (255,697 SF site; 15.87 acres).
- Starbucks pad approx. 1,700 SF on a long‑term NNN lease through April 2047.
- Multi‑tenant components include Building D (19,033 SF) and Buildings F+G combined (16,349 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
$588,422
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
3.69%
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%
$11,768,440
$11.8M
Cap Rate 7%
$8,406,029
$8.4M
Cap Rate 9%
$6,538,022
$6.5M
Market Conditions
NOI Build-Up for 42,532 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
$918.7K $21.60/SF
− Vacancy
−$78.1K −$1.84/SF
EGI
$840.6K $19.76/SF
− OpEx
−$252.2K −$5.93/SF
NOI
$588.4K $13.83/SF
Area
Corona, CA
Vacancy
8.50%
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%
$11,768,440
Cap Rate 7%
$8,406,029
Cap Rate 9%
$6,538,022
Alternative Uses
Best Use
Retail
$8.41M
$7.36M – $9.81M
NOI $588,422 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.23M
$11.58M – $15.43M
NOI $926,041 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
651k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 22%
Superstores 18%
Home Improvements & Furnishings 9%
Walmart
Superstores
120,297 visits/mo
0.3 miles
In-N-Out Burger
Dining
62,245 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
54,933 visits/mo
0.2 miles
Sam's Club Gas Station
Shops & Services
51,514 visits/mo
0.1 miles
McDonald's
Dining
37,943 visits/mo
0.2 miles
Demographics for 92881, CA
31,590
Population
9,362
Households
3.4
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
32.4 sq mi
ZIP Area
975
Density / Sq Mi
$132,598
Median Household Income
$60,271
Median Earnings
$2,150
Median Rent
$723,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Corona Cerrito Plaza — 1525 E Ontario Ave, Corona, CA 92881
- Quick-Tag — Walmart, 1290 E Ontario Ave, Corona, CA 92881
- Coinstar Kiosk | Bitcoin ATM — Albertsons, 1260 E Ontario Ave, Corona, CA 92881
- Corona Vista — 901 E Ontario Ave, Corona, CA 92881
Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood retail center anchored by a long-term Starbucks NNN lease, with multi-tenant strip components and multiple acquisition options.
Where is this shopping center located?
The property is located at 1525 East Ontario Avenue Corona, CA.
What is the asking price?
The asking price for this property is $15,945,000.
What are key features of this property?
This property features: Neighborhood retail center built in 2006 totaling 42,532 SF across seven parcels (255,697 SF site; 15.87 acres).; Starbucks pad approx. 1,700 SF on a long‑term NNN lease through April 2047.; Multi‑tenant components include Building D (19,033 SF) and Buildings F+G combined (16,349 SF).
