Dollar Tree-Anchored Shopping
For Sale
Contact for pricing
23900 Ironwood Avenue, Moreno Valley, CA 92557
Neighborhood retail center with a national discount anchor and signalized access near the CA-60 Freeway.
Property Size56,288 SF
Price / SF$234.61
Days on Market100
Property Features for 23900 Ironwood Avenue
General Information
Standard status
Active
Size
56,288 SF
Class
A
Property subtype
Retail
Zoning
CC
Occupancy
87%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$792,332
Additional Details
Anchor Co-Tenants
Dollar Tree
Building Details
Year Built
1987
Units
22
Tenancy
Multi
Listing Agency:
Faris Lee Investments
Listed By:
Tyler Strauss · License #CA 02059923
(949) 633-1872
Source:
Crexi
Added: Jul 9
Changed: Oct 10
Last Checked: Oct 16 at 9:35AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Ironwood Plaza is a 56,288-square-foot shopping center completed in 1987 and anchored by Dollar Tree. The property carries CC zoning and is positioned for neighborhood-oriented retail uses within a multi-tenant shopping center format.
The center occupies the signalized intersection of Heacock Street and Ironwood Avenue, near the CA-60 Freeway, which records more than 135,000 vehicles per day. The surrounding trade area includes 134,280 residents within three miles and 220,610 residents within five miles. Nearby national retailers include Costco, Target, Walmart Supercenter, Sprouts, Home Depot, Lowe's, WinCo Foods, Food 4 Less, Sam's Club, and Aldi.
Towngate Shopping Center is also nearby and recorded more than 7.2 million visits during the past 12 months. Together, the surrounding retail and residential base support the center's role as a neighborhood shopping destination anchored by a recognized daily-needs retailer.
The center occupies the signalized intersection of Heacock Street and Ironwood Avenue, near the CA-60 Freeway, which records more than 135,000 vehicles per day. The surrounding trade area includes 134,280 residents within three miles and 220,610 residents within five miles. Nearby national retailers include Costco, Target, Walmart Supercenter, Sprouts, Home Depot, Lowe's, WinCo Foods, Food 4 Less, Sam's Club, and Aldi.
Towngate Shopping Center is also nearby and recorded more than 7.2 million visits during the past 12 months. Together, the surrounding retail and residential base support the center's role as a neighborhood shopping destination anchored by a recognized daily-needs retailer.
Key Highlights
- Dollar Tree anchors the 56,288‑square‑foot shopping center
- CC‑zoned retail property completed in 1987
- Signalized intersection of 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
Current Use
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
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood retail center with a national discount anchor and signalized access near the CA-60 Freeway.
Where is this shopping center located?
The property is located at 23900 Ironwood Avenue 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 anchors the 56,288‑square‑foot shopping center; CC‑zoned retail property completed in 1987; Signalized intersection of Heacock Street and Ironwood Avenue
