Grocery Store
For Sale
$2,100,000
24741 Washington, Murrieta, CA 92562
Leased retail building with an established grocery tenant and an option to renew.
Property Size4,680 SF
Days on Market75
Property Features for 24741 Washington
General Information
Standard status
Active
Size
4,680 SF
Property subtype
Commercial
Building Details
Building Size
4,680 SF
Year Built
1927
Tenancy
Single
Listing Agency:
Coldwell Banker Associated Brokers
(909) 841-7676
Listed By:
PATRICIA PANDEY · License #01342228
Source:
Elliman
Added: Jun 17
Changed: Aug 30
Last Checked: Aug 30 at 3:58AM
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 Coldwell Banker Associated Brokers
Investment Insights
Based on property information with market context.
This grocery and convenience store property at 24741 Washington in Murrieta is occupied by Murrieta Country Market. The building dates to 1927 and is described as well maintained, providing an operating retail setting with an existing lease in place and a renewal option.
The property is positioned in downtown Murrieta, placing the store within the city’s central business area. WalkScore and bikeScore are both 48, while transitScore is 17, reflecting limited transit access and a primarily automobile-oriented setting.
The property is positioned in downtown Murrieta, placing the store within the city’s central business area. WalkScore and bikeScore are both 48, while transitScore is 17, reflecting limited transit access and a primarily automobile-oriented setting.
Key Highlights
- Existing tenant: Murrieta Country Market
- Lease in place with option to renew
- 1927 building
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
$103,489
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
4.93%
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%
$2,069,780
$2.1M
Cap Rate 7%
$1,478,414
$1.5M
Cap Rate 9%
$1,149,878
$1.1M
Market Conditions
NOI Build-Up for 4,680 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
$146.0K $31.20/SF
− Vacancy
−$8.0K −$1.72/SF
EGI
$138.0K $29.48/SF
− OpEx
−$34.5K −$7.37/SF
NOI
$103.5K $22.11/SF
Area
Murrieta, CA
Vacancy
5.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,069,780
Cap Rate 7%
$1,478,414
Cap Rate 9%
$1,149,878
Alternative Uses
Best Use
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,489 @ 7.0% cap · market cap 4.93%
Second Best
Retail
$1.35M
$1.18M – $1.57M
NOI $94,431 @ 7.0% cap · market cap 4.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92562, CA
64,270
Population
22,362
Households
2.9
Avg Household Size
38
Median Age
34%
College-Educated
94%
High-School Grad
110.3 sq mi
ZIP Area
583
Density / Sq Mi
$113,204
Median Household Income
$55,495
Median Earnings
$2,262
Median Rent
$629,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Market + Tobacco — 24861 Jefferson Ave, Murrieta, CA 92562
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Leased retail building with an established grocery tenant and an option to renew.
Where is this grocery and convenience store located?
The property is located at 24741 Washington Murrieta, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Existing tenant: Murrieta Country Market; Lease in place with option to renew; 1927 building
