Historically High Occupancy Shopping
For Sale
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24759 Sunnymead Boulevard, Moreno Valley, CA 92553
Shopping center with historically high occupancy and long-term tenants.
Property Size32,476 SF
Price / SF$161.66
Days on Market159
Property Features for 24759 Sunnymead Boulevard
General Information
Standard status
Active
Size
32,476 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$413,273
Building Details
Year Built
1985
Buildings
3
Tenancy
Multi
Listing Agency:
DMC Real Estate
Listed By:
Simon Asef · License #CA 01726727
Source:
Crexi
Added: Mar 18
Changed: Aug 21
Last Checked: Aug 22 at 12:14PM
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 DMC Real Estate
Investment Insights
Based on property information with market context.
Las Brisas Center is a shopping center with a history of high occupancy, featuring tenants who have been in place for over 20 years. Recent capital improvements exceeding $200,000 have been made, including a new roof, slurry coat and restriping, new paint and signage, drought-resistant landscaping, and surveillance cameras. Retail tenants include Marisco’s Mexican Restaurant and Soul Fire. The property is anchored by Inland Empire Autobody & Paint, which occupies 36% of the gross leasable area (GLA). An additional 11,010 square feet is occupied by vehicle-related businesses. The property offers plentiful parking. All tenants are currently paying below-market rents. The property size is 32,476 square feet and is located on Sunnymead Boulevard in Moreno Valley, California.
Key Highlights
- Historically high occupancy with long‑term tenants (20+ years).
- Recent capital improvements exceeding $200,000 (new roof, slurry coat, restriping, paint, signage, landscaping, surveillance).
- Anchored by Inland Empire Autobody & Paint (36% of GLA).
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
$464,030
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
8.84%
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%
$9,280,600
$9.3M
Cap Rate 7%
$6,629,000
$6.6M
Cap Rate 9%
$5,155,889
$5.2M
Market Conditions
NOI Build-Up for 32,476 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
$701.5K $21.60/SF
− Vacancy
−$38.6K −$1.19/SF
EGI
$662.9K $20.41/SF
− OpEx
−$198.9K −$6.12/SF
NOI
$464.0K $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%
$9,280,600
Cap Rate 7%
$6,629,000
Cap Rate 9%
$5,155,889
Alternative Uses
Best Use
Retail
$6.63M
$5.80M – $7.73M
NOI $464,030 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.13M
$9.74M – $12.98M
NOI $779,097 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,224
Businesses Nearby
306k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 35%
Groceries 16%
Electronics 2%
Cardenas Market
Groceries
47,625 visits/mo
0.3 miles
McDonald's
Dining
32,130 visits/mo
0.3 miles
dd's DISCOUNTS
Shops & Services
27,643 visits/mo
0.5 miles
Black Bear Diner
Dining
18,517 visits/mo
0.2 miles
Jack in the Box
Dining
15,938 visits/mo
0.3 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Indian Center — 24534, 24544 Sunnymead Boulevard, Moreno Valley, CA 92553
- Sunnymead Plaza Shopping Center — 24901 Sunnymead Boulevard, Moreno Valley, CA 92553
- Sundance center — 24467 Sunnymead Boulevard, Moreno Valley, CA 92553
- Palm Plaza — 24592 Sunnymead Boulevard, Moreno Valley, CA 92553
- Rio Rancho Super Mall — 25211 Sunnymead Boulevard, Moreno Valley, CA 92553
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with historically high occupancy and long-term tenants.
Where is this shopping center located?
The property is located at 24759 Sunnymead Boulevard Moreno Valley, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Historically high occupancy with long‑term tenants (20+ years).; Recent capital improvements exceeding $200,000 (new roof, slurry coat, restriping, paint, signage, landscaping, surveillance).; Anchored by Inland Empire Autobody & Paint (36% of GLA).
