Grocery-Anchored Shopping Center For
For Sale
Contact for pricing
Pending
23465 Sunnymead Blvd, Moreno Valley, CA 92553
High-traffic shopping center with national tenants and freeway access.
Property Size341,011 SF
Lot Size7.83 Acres
Days on Market439
Property Features for 23465 Sunnymead Blvd
General Information
Standard status
Pending
Size
341,011 SF
Lot size
7.83 Acres
Property subtype
Retail
Zoning
SP 204 CC
Occupancy
82%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1987
Buildings
14
Units
79
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(951) 532-1222
Listed By:
Alan Krueger · License #00880814
Source:
Crexi
Added: Jun 18, 2025
Changed: Aug 15
Last Checked: Aug 25 at 9:51AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Moreno Valley Plaza is a grocery-anchored shopping center located in Moreno Valley, California. The retail asset spans over 180,000 square feet and features a mix of national and credit tenants, including Superior Grocers, Goodwill, BioLife Plasma, Harbor Freight, Office Depot, Big 5, and McDonald’s. The property is located at a major exit off the Moreno Valley Freeway (60 Freeway) and has its own signalized intersection on Sunnymead Blvd. The Pigeon Pass Exit feeds directly onto Sunnymead Boulevard, increasing exposure and foot traffic to the center. The property is 82 percent occupied and is priced on actual income. The property benefits from tenant retention with long-term stability and customer loyalty, with 40 tenants in place for over 10 years and 18 tenants for over 20 years. 65 percent of the center is occupied by credit tenants. The property is located on Sunnymead Blvd in Moreno Valley, CA. The property size is 341011 square feet.
Key Highlights
- High‑traffic location with direct freeway (60 Freeway) access and a signalized intersection on Sunnymead Blvd.
- Grocery‑anchored shopping center with Superior Grocers as a key tenant.
- Diverse mix of national and credit tenants, including Harbor Freight, Office Depot, and McDonald’s.
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
$4,872,502
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
8.77%
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%
$97,450,040
$97.5M
Cap Rate 7%
$69,607,171
$69.6M
Cap Rate 9%
$54,138,911
$54.1M
Market Conditions
NOI Build-Up for 341,011 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
$7.37M $21.60/SF
− Vacancy
−$405.1K −$1.19/SF
EGI
$6.96M $20.41/SF
− OpEx
−$2.09M −$6.12/SF
NOI
$4.87M $14.29/SF
Area
Moreno Valley, CA
Vacancy
5.50%
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%
$97,450,040
Cap Rate 7%
$69,607,171
Cap Rate 9%
$54,138,911
Alternative Uses
Best Use
Retail
$69.61M
$60.91M – $81.21M
NOI $4,872,502 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$116.87M
$102.26M – $136.35M
NOI $8,180,827 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,409
Businesses Nearby
355k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 26%
Groceries 12%
Apparel 6%
In-N-Out Burger
Dining
49,170 visits/mo
0.4 miles
Superior Grocers
Groceries
43,369 visits/mo
0.4 miles
McDonald's
Dining
28,172 visits/mo
0.3 miles
Farmer Boys
Dining
27,003 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
17,442 visits/mo
0.5 miles
Demographics for 92553, CA
76,761
Population
20,175
Households
3.8
Avg Household Size
30
Median Age
13%
College-Educated
74%
High-School Grad
10.3 sq mi
ZIP Area
7,453
Density / Sq Mi
$71,344
Median Household Income
$36,525
Median Earnings
$1,892
Median Rent
$413,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - High-traffic shopping center with national tenants and freeway access.
Where is this shopping center located?
The property is located at 23465 Sunnymead Blvd Moreno Valley, CA.
What is the asking price?
The asking price for this property is $55,590,000.
What are key features of this property?
This property features: High‑traffic location with direct freeway (60 Freeway) access and a signalized intersection on Sunnymead Blvd.; Grocery‑anchored shopping center with Superior Grocers as a key tenant.; Diverse mix of national and credit tenants, including Harbor Freight, Office Depot, and McDonald’s.
