Drive-Thru End Cap Retail
1535 E Ontario Ave Corona, CA 92881
1535 E Ontario Ave, Corona, CA, 92881
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For Sale
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Four-tenant retail asset with a drive-thru end cap positioned at the Interstate 15 Ontario Avenue exit.
Property Size8,112 SF
Price / SF$462.28
Days on Market175
Property Features for 1535 E Ontario Ave
General Information
- Standard status
- Active
- Size
- 8,112 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2006
Listing agency
Progressive Real Estate Partners
(901) 277-3093
Listed by
Trinnie Lee · License #02011665
Source
Crexi
Added: Jan 27 Updated: Jul 20 at 9:43PM Checked: Jul 20 at 9:43PM
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 Progressive Real Estate Partners
Investment Insights
Based on property information with market context.
This four-tenant retail asset includes a drive-thru end cap, with the drive-thru tenant positioned in second place on the freeway pylon sign. The building is described as one of the most prominent-positioned within the plaza, providing visibility and signage exposure along Interstate 15, the freeway on- and off-ramps, and Ontario Avenue.
The property is located directly off Interstate 15 at the Ontario Avenue exit in Corona. The asset benefits from visibility to approximately 166,500 CPD along Interstate 15 and approximately 44,800 CPD along Ontario Avenue, which functions as a primary east–west arterial for central and south-central Corona residents accessing the freeway.
Tenants operate under triple-net leases with 3% annual rent increases. The common areas are professionally managed, and tenants are reported to average approximately 13 years of operating history at the property. The remarks also note average household incomes within a one-mile radius exceed $156,900 and that the surrounding area includes a dense concentration of national and regional retailers.
The property is located directly off Interstate 15 at the Ontario Avenue exit in Corona. The asset benefits from visibility to approximately 166,500 CPD along Interstate 15 and approximately 44,800 CPD along Ontario Avenue, which functions as a primary east–west arterial for central and south-central Corona residents accessing the freeway.
Tenants operate under triple-net leases with 3% annual rent increases. The common areas are professionally managed, and tenants are reported to average approximately 13 years of operating history at the property. The remarks also note average household incomes within a one-mile radius exceed $156,900 and that the surrounding area includes a dense concentration of national and regional retailers.
Key Highlights
- Four‑tenant retail asset with a drive‑thru end cap positioned at the Interstate 15 & Ontario Avenue exit in Corona
- Visible directly off Interstate 15 at the Ontario Avenue exit, with visibility to 166,500 CPD on I‑15 and 144,800 CPD on Ontario Avenue
- Drive‑thru tenant has second‑position placement on the freeway pylon sign, with prominent building signage exposure along I‑15, ramps, and Ontario Avenue
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $175.2k | $21.60 |
| − Vacancy | −$14.9k | −$1.84 |
| EGI | $160.3k | $19.76 |
| − OpEx | −$48.1k | −$5.93 |
| NOI | $112.2k | $13.83 |
8,112 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.87M
NOI $112,228 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,621 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sombrero Mexican Food
Restaurant
HI BBQ CHICKEN ...
Restaurant
One Touch Beauty
Spa & Massage Center
Sweat Ethics
Gym & Fitness Center
Similar For Sale Nearby
Similar Off Market Nearby
- Quick-Tag — Walmart, 1290 E Ontario Ave, Corona, CA 92881
- Coinstar Kiosk | Bitcoin ATM — Albertsons, 1260 E Ontario Ave, Corona, CA 92881
- Corona Cerrito Plaza — 1525 E Ontario Ave, Corona, CA 92881
FAQs
What type of property is this?
Shopping center - Four-tenant retail asset with a drive-thru end cap positioned at the Interstate 15 Ontario Avenue exit.
Where is this shopping center located?
The property is located at 1535 E Ontario Ave Corona, CA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Four‑tenant retail asset with a drive‑thru end cap positioned at the Interstate 15 & Ontario Avenue exit in Corona; Visible directly off Interstate 15 at the Ontario Avenue exit, with visibility to 166,500 CPD on I‑15 and 144,800 CPD on Ontario Avenue; Drive‑thru tenant has second‑position placement on the freeway pylon sign, with prominent building signage exposure along I‑15, ramps, and Ontario Avenue
