Retail Center with Grocery Shadow
For Sale
Contact for pricing
300 S Highland Springs Ave, Banning, CA 92220
Grocery shadow-anchored retail center with 93% occupancy and tenant suite vacancy available for lease-up.
Property Size44,291 SF
Price / SF$285.61
Days on Market191
Property Features for 300 S Highland Springs Ave
General Information
Standard status
Active
Size
44,291 SF
Property subtype
Retail
Zoning
General Commercial
Occupancy
93%
Net Operating Income
$892,681
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
CBRE - Orange County
Listed By:
David Swerdlow · License #02104458
(949) 769-4855
Source:
Crexi
Added: Apr 13
Changed: Oct 19
Last Checked: Oct 19 at 6:06AM
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 CBRE - Orange County
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.
Sun Lakes Village is a grocery shadow anchored retail center presented for sale as a stabilized, income-producing property. The center is reported at 93% occupancy with long-term tenants in place, and it includes one remaining vacant suite of 2,993 SF available for lease-up.
The owned tenant roster listed in the property remarks includes CosmoProf, Spectrum, Waba Grill, Postal Annex, Sally Beauty Supply, Purpose Financial, Baskin Robbins, and Quest Diagnostics, along with co-tenants in the larger center such as Albertson’s, Hobby Lobby, Marshalls, PetSmart, Boot Barn, Big 5, U.S. Bank, Carl’s Jr., and Chipotle, among others. The center is located on S Highland Springs Ave in Banning, CA.
Sun Lakes Village is structured as four parcels, creating a potential multi-parcel “spin-off” opportunity within the broader ownership structure described in the remarks.
The owned tenant roster listed in the property remarks includes CosmoProf, Spectrum, Waba Grill, Postal Annex, Sally Beauty Supply, Purpose Financial, Baskin Robbins, and Quest Diagnostics, along with co-tenants in the larger center such as Albertson’s, Hobby Lobby, Marshalls, PetSmart, Boot Barn, Big 5, U.S. Bank, Carl’s Jr., and Chipotle, among others. The center is located on S Highland Springs Ave in Banning, CA.
Sun Lakes Village is structured as four parcels, creating a potential multi-parcel “spin-off” opportunity within the broader ownership structure described in the remarks.
Key Highlights
- 1990‑built grocery shadow‑anchored retail center with national and regional tenants
- 93% occupancy with 3.57 years weighted‑average lease term (WALT) remaining
- Immediate upside: 2,993 SF vacancy available in one remaining suite for lease‑up
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$634,857
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,697,140
$12.7M
Cap Rate 7%
$9,069,386
$9.1M
Cap Rate 9%
$7,053,967
$7.1M
Market Conditions
NOI Build-Up for 44,291 SF
Gross rent
$956.7K $21.60/SF
− Vacancy
−$49.7K −$1.12/SF
EGI
$906.9K $20.48/SF
− OpEx
−$272.1K −$6.14/SF
NOI
$634.9K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,697,140
Cap Rate 7%
$9,069,386
Cap Rate 9%
$7,053,967
Alternative Uses
Best Use
Retail
$9.07M
$7.94M – $10.58M
NOI $634,857 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.27M
$11.61M – $15.48M
NOI $928,818 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
93%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Justin Hart — 8 E 83rd St, 1620 E 2nd St UNIT 35, Beaumont, CA 92223
- Sun Lakes Village Shopping Center — 300 S Highland Springs Ave, Banning, CA 92220
- Marketplace Beaumont — Game Stop, Highland Springs, E 2nd St and, Beaumont, CA 92223
- California DMV Now Kiosk — 300 S Highland Springs Ave #7, Banning, CA 92220
- Coinstar Kiosk - Bitcoin ATM — 300 S Highland Springs Ave Albertsons, Banning, CA 92220
Frequently Asked Questions
What type of property is this?
Shopping center - Grocery shadow-anchored retail center with 93% occupancy and tenant suite vacancy available for lease-up.
Where is this shopping center located?
The property is located at 300 S Highland Springs Ave Banning, CA.
What is the asking price?
The asking price for this property is $12,650,000.
What are key features of this property?
This property features: 1990‑built grocery shadow‑anchored retail center with national and regional tenants; 93% occupancy with 3.57 years weighted‑average lease term (WALT) remaining; Immediate upside: 2,993 SF vacancy available in one remaining suite for lease‑up
