Retail Center with Grocery Shadow
300 S Highland Springs Ave Banning, CA 92220
300 S Highland Springs Ave, Banning, CA, 92220
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For Sale
Contact for pricing
Grocery shadow-anchored retail center with 93% occupancy and tenant suite vacancy available for lease-up.
Property Size44,291 SF
Price / SF$285.66
Days on Market101
Property Features for 300 S Highland Springs Ave
General Information
- Standard status
- Active
- Size
- 44,291 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing agency
CBRE - Orange County
(626) 705-8236
Listed by
David Swerdlow · License #02104458
Source
Crexi
Added: Apr 13 Updated: Jul 21 at 12:58AM Checked: Jul 21 at 4:19AM
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
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $956.7k | $21.60 |
| − Vacancy | −$49.7k | −$1.12 |
| EGI | $906.9k | $20.48 |
| − OpEx | −$272.1k | −$6.14 |
| NOI | $634.9k | $14.33 |
44,291 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sentry Escrow Services ...
Bank
Marshalls
Department Store
Hobby Lobby
(Bike/Boat/Book/etc) Store
Cardtronics
Atm
Pristine Dentistry
Dental Office
Similar For Sale Nearby
Similar Off Market Nearby
- 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
- Sun Lakes Village Shopping Center — 300 S Highland Springs Ave, Banning, CA 92220
- Justin Hart — 8 E 83rd St, 1620 E 2nd St UNIT 35, Beaumont, CA 92223
FAQs
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 $12,652,000.
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
