Shopping Center with Fitness
31500-31800 Grape Street, Lake Elsinore, CA 92532
For Sale
Contact for pricing
The center combines a major fitness operator with national and regional retailers, restaurants, and service businesses.
Property Size116,937 SF
Price / SF$298.19
Days on Market33
Property Features for 31500-31800 Grape Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Anchor Co-Tenants
Traffic Count
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
Hanley Investment Group
Listed By:
Bill Asher · License #CA 01318078
(949) 585-7684
Source:
Crexi
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 4:38PM
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 Hanley Investment Group
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.
This 116,937-square-foot shopping center is anchored by EōS Fitness, which occupies 43% of the offering’s square footage. The tenant roster also includes Denny’s, El Pollo Loco, Goodwill, O’Reilly Auto Parts, Starbucks, and Wells Fargo. The property is 94% occupied, and 85% of occupied space is leased to national or regional tenants. More than 10 years of occupancy at the center is recorded for 71% of current tenants.
The property sits at Grape Street and Railroad Canyon Road, where the intersection carries 52,500 vehicles per day. It is next to Interstate 15, with visibility from the freeway and reported traffic of 125,000 vehicles per day. The trade area recorded 23% population growth from 2010 to 2020 within a five-mile radius, and more than 22,300 residential units are planned in Lake Elsinore.
The property sits at Grape Street and Railroad Canyon Road, where the intersection carries 52,500 vehicles per day. It is next to Interstate 15, with visibility from the freeway and reported traffic of 125,000 vehicles per day. The trade area recorded 23% population growth from 2010 to 2020 within a five-mile radius, and more than 22,300 residential units are planned in Lake Elsinore.
Key Highlights
- 116,937‑square‑foot shopping center with EōS Fitness occupying 43% of offering area
- 94% occupied; 85% of occupied space is leased to national or regional tenants
- 71% of current tenants have occupied space at the property for more than 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,676,147
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$33,522,940
$33.5M
Cap Rate 7%
$23,944,957
$23.9M
Cap Rate 9%
$18,623,856
$18.6M
Market Conditions
NOI Build-Up for 116,937 SF
Gross rent
$2.53M $21.60/SF
− Vacancy
−$131.3K −$1.12/SF
EGI
$2.39M $20.48/SF
− OpEx
−$718.3K −$6.14/SF
NOI
$1.68M $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%
$33,522,940
Cap Rate 7%
$23,944,957
Cap Rate 9%
$18,623,856
Alternative Uses
Best Use
Retail
$23.94M
$20.95M – $27.94M
NOI $1,676,147 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.03M
$30.65M – $40.87M
NOI $2,452,264 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
52,500 VPD
Traffic count
94%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
119k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 31%
Groceries 28%
Beauty & Spa 3%
Cardenas Market
Groceries
33,629 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
24,615 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
14,817 visits/mo
0.1 miles
El Pollo Loco
Dining
12,429 visits/mo
0.1 miles
Spectrum
Shops & Services
8,905 visits/mo
0.1 miles
Demographics for 92532, CA
27,560
Population
8,476
Households
3.3
Avg Household Size
34
Median Age
31%
College-Educated
88%
High-School Grad
15.2 sq mi
ZIP Area
1,813
Density / Sq Mi
$111,746
Median Household Income
$54,626
Median Earnings
$2,584
Median Rent
$553,100
Median Home Value
Market
Average Price Trend$/SF for Shopping centers in Riverside County, CA
Properties on Market for Shopping centers in Riverside County
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- ARTISAN ALLEY AT THE DIAMOND — 32279 Mission Trail, Lake Elsinore, CA 92530
- Lake Elsinore Town Center — 31941 Mission Trail, Lake Elsinore, CA 92530
- Coinstar Kiosk | Bitcoin ATM — Stater Bros, 32281 Mission Trail, Lake Elsinore, CA 92530
- Mission Trail Center — 31904 Mission Trail, Lake Elsinore, CA 92530
- Winston Plaza — 31760 Mission Trail, Lake Elsinore, CA 92530
Frequently Asked Questions
What type of property is this?
Shopping center - The center combines a major fitness operator with national and regional retailers, restaurants, and service businesses.
Where is this shopping center located?
The property is located at 31500-31800 Grape Street Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $34,870,000.
What are key features of this property?
This property features: 116,937‑square‑foot shopping center with EōS Fitness occupying 43% of offering area; 94% occupied; 85% of occupied space is leased to national or regional tenants; 71% of current tenants have occupied space at the property for more than 10 years
