Dollar Tree-Anchored Shopping
For Sale
$13,206,000
23900-23980 Ironwood Ave Moreno, Moreno Valley, CA 92557
Signalized hard-corner center near CA-60 offers small-shop space alongside a national retailer.
Property Size56,288 SF
Lot Size4.50 Acres
Price / SF$234.61
Days on Market96
Property Features for 23900-23980 Ironwood Ave Moreno
General Information
Standard status
Active
Size
56,288 SF
Lot size
4.50 Acres
Property subtype
Retail
Occupancy
87%
Net Operating Income
$792,332
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Dollar Tree
Road Access
Yes
Building Details
Building Size
56,288 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
Faris Lee Investments
Listed By:
Shaun Riley · License #CalDRE #01165160
(714) 608-3416
Source:
Farislee
Added: Jul 11
Changed: Oct 3
Last Checked: Oct 12 at 5:55PM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
Ironwood Plaza is a 56,288-square-foot shopping center on approximately 4.5 Acres, developed in 1987 and anchored by Dollar Tree. The center has a small-unit layout with shop spaces positioned alongside the national retailer, and 13% of the property is vacant. Dollar Tree opened at the property in 2024.
The center occupies the signalized intersection of Heacock Street and Ironwood Avenue near the CA-60 Freeway in Moreno Valley. The property is surrounded by residential-zoned parcels and serves a trade area with 134,287 residents within a 3-mile radius. Most shop tenants have no renewal options or have fair-market-value options, providing defined lease-structure characteristics across the center.
The center occupies the signalized intersection of Heacock Street and Ironwood Avenue near the CA-60 Freeway in Moreno Valley. The property is surrounded by residential-zoned parcels and serves a trade area with 134,287 residents within a 3-mile radius. Most shop tenants have no renewal options or have fair-market-value options, providing defined lease-structure characteristics across the center.
Key Highlights
- Dollar Tree anchor opened at the property in 2024
- 56,288 SF shopping center on approximately 4.5 Acres
- Signalized intersection at Heacock Street and Ironwood Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$804,265
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,085,300
$16.1M
Cap Rate 7%
$11,489,500
$11.5M
Cap Rate 9%
$8,936,278
$8.9M
Market Conditions
NOI Build-Up for 56,288 SF
Gross rent
$1.22M $21.60/SF
− Vacancy
−$66.9K −$1.19/SF
EGI
$1.15M $20.41/SF
− OpEx
−$344.7K −$6.12/SF
NOI
$804.3K $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 Rate 5%
$16,085,300
Cap Rate 7%
$11,489,500
Cap Rate 9%
$8,936,278
Alternative Uses
Best Use
Retail
$11.49M
$10.05M – $13.40M
NOI $804,265 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.29M
$16.88M – $22.51M
NOI $1,350,345 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
87%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
147k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 32%
Groceries 15%
Apparel 10%
Starbucks
Dining
23,587 visits/mo
0.4 miles
Sprouts Farmers Market
Groceries
22,299 visits/mo
0.4 miles
ARCO
Shops & Services
16,694 visits/mo
0.5 miles
WSS
Apparel
14,143 visits/mo
0.4 miles
IHOP
Dining
12,041 visits/mo
0.4 miles
Demographics for 92557, CA
54,549
Population
15,748
Households
3.5
Avg Household Size
34
Median Age
19%
College-Educated
84%
High-School Grad
17.8 sq mi
ZIP Area
3,065
Density / Sq Mi
$93,464
Median Household Income
$41,214
Median Earnings
$2,081
Median Rent
$471,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Signalized hard-corner center near CA-60 offers small-shop space alongside a national retailer.
Where is this shopping center located?
The property is located at 23900-23980 Ironwood Ave Moreno Moreno Valley, CA.
What is the asking price?
The asking price for this property is $13,206,000.
What are key features of this property?
This property features: Dollar Tree anchor opened at the property in 2024; 56,288 SF shopping center on approximately 4.5 Acres; Signalized intersection at Heacock Street and Ironwood Avenue
