Mixed-Use Center with
For Sale
Contact for pricing
28495 Old Town Front Street, Temecula, CA 92590
Four buildings accommodate retail, restaurant, office, and service-oriented tenants in an established commercial setting.
Property Size41,232 SF
Lot Size1.86 Acres
Price / SF$351.67
Days on Market77
Property Features for 28495 Old Town Front Street
General Information
Standard status
Active
Size
41,232 SF
Lot size
1.86 Acres
Property subtype
Retail, Office, Mixed Use
Occupancy
89%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$756,368
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Year Renovated
2004
Buildings
4
Tenancy
Multi
Listing Agency:
Lee & Associates San Diego - Carlsbad
(760) 519-0240
Listed By:
Ryan Bennett · License #CA 01826517
Source:
Crexi
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 30 at 3:14PM
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 Lee & Associates San Diego - Carlsbad
Investment Insights
Based on property information with market context.
The property comprises four buildings totaling approximately 41,232 square feet on 1.86 acres. Built in 1979, the center is occupied by a varied combination of retail, restaurant, office, and service-oriented businesses. Existing occupants include Mad Madeline’s Grill, Texas Lil’s, Bottega Italia, The Crafted Scone, and professional office users.
Located at 28495 Old Town Front Street in Temecula, the property extends along a full city block of frontage in Old Town Temecula. The surrounding district is supported by tourism activity, nearby Temecula Wine Country, and pedestrian-oriented commercial uses. Interstate 15 provides regional access, with approximately 166,000 vehicles per day cited for the route. The nearby Altair master-planned community is expected to add approximately 1,750 homes within walking distance of Old Town.
Located at 28495 Old Town Front Street in Temecula, the property extends along a full city block of frontage in Old Town Temecula. The surrounding district is supported by tourism activity, nearby Temecula Wine Country, and pedestrian-oriented commercial uses. Interstate 15 provides regional access, with approximately 166,000 vehicles per day cited for the route. The nearby Altair master-planned community is expected to add approximately 1,750 homes within walking distance of Old Town.
Key Highlights
- Four buildings totaling approximately 41,232 square feet
- Situated on 1.86 acres with a full city block of frontage
- Built in 1979 at 28495 Old Town Front Street, Temecula, CA 92590
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
$600,319
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
4.14%
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%
$12,006,380
$12.0M
Cap Rate 7%
$8,575,986
$8.6M
Cap Rate 9%
$6,670,211
$6.7M
Market Conditions
NOI Build-Up for 41,232 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
$910.4K $22.08/SF
− Vacancy
−$52.8K −$1.28/SF
EGI
$857.6K $20.80/SF
− OpEx
−$257.3K −$6.24/SF
NOI
$600.3K $14.56/SF
Area
Temecula, CA
Vacancy
5.80%
Lease Rate
$22.08 /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%
$12,006,380
Cap Rate 7%
$8,575,986
Cap Rate 9%
$6,670,211
Alternative Uses
Best Use
Retail
$8.58M
$7.50M – $10.01M
NOI $600,319 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$8.31M
$7.27M – $9.70M
NOI $581,792 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$12.80M
$11.20M – $14.93M
NOI $895,836 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 92590, CA
4,840
Population
2,023
Households
2.4
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
54.4 sq mi
ZIP Area
89
Density / Sq Mi
$76,952
Median Household Income
$41,510
Median Earnings
$1,289
Median Rent
$1,201,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four buildings accommodate retail, restaurant, office, and service-oriented tenants in an established commercial setting.
Where is this mixed-use property located?
The property is located at 28495 Old Town Front Street Temecula, CA.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: Four buildings totaling approximately 41,232 square feet; Situated on 1.86 acres with a full city block of frontage; Built in 1979 at 28495 Old Town Front Street, Temecula, CA 92590
