New Single Tenant Target
For Sale
$35,272,000
3534 Peck Rd. El, El Monte, CA 91731
New 125,974 SF Target store on 8.31 acres.
Property Size125,974 SF
Lot Size8.31 Acres
Price / SF$279.99
Days on Market206
Property Features for 3534 Peck Rd. El
General Information
Standard status
Active
Size
125,974 SF
Lot size
8.31 Acres
Property subtype
Retail
Listing Agency:
Newmark | Las Vegas
(213) 298-3593
Listed By:
Bill Bauman · License #CA RE Lic. #00969493
Source:
Nmrk
Added: Jan 27
Changed: Aug 21
Last Checked: Aug 21 at 4:20AM
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 Newmark | Las Vegas
Investment Insights
Based on property information with market context.
Located in the dynamic El Monte submarket of Los Angeles, this property features a new single-tenant, full-sized Target store. The store, spanning 125,974 square feet, is situated on approximately 8.31 acres of land. Target has executed a new 15-year lease, which includes 10% increases every five years, along with four five-year options to extend the lease. The new state-of-the-art Target facility opened on October 13, 2024. El Monte, positioned about 12 miles from Downtown Los Angeles at the intersection of Interstates 10 and 605, serves as the hub of the San Gabriel Valley. The area benefits from a dense and diverse consumer base and daytime population. The submarket demonstrates strong demographics, including 221,887 residents within a 3-mile radius with an average household income exceeding $96,000, and over 537,000 residents within a 5-mile radius with an average household income of $105,000. The property is adjacent to Longo Lexus and Longo Toyota, the #1 volume & sales auto dealership in the United States. Other retailers in El Monte Center include Planet Fitness, Wendy’s, Yoshinoya, and three pending national drive-thru tenants.
Key Highlights
- New 15‑year NNN lease with Target, featuring 10% rent increases every five years and four five‑year extension options.
- Brand new, state‑of‑the‑art 125,974 square foot Target store opened in October 2024.
- Located in the densely populated and high‑income El Monte submarket of Los Angeles.
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
$3,184,238
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
9.03%
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%
$63,684,760
$63.7M
Cap Rate 7%
$45,489,114
$45.5M
Cap Rate 9%
$35,380,422
$35.4M
Market Conditions
NOI Build-Up for 125,974 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
$4.66M $36.96/SF
− Vacancy
−$107.1K −$0.85/SF
EGI
$4.55M $36.11/SF
− OpEx
−$1.36M −$10.83/SF
NOI
$3.18M $25.28/SF
Area
El Monte, CA
Vacancy
2.30%
Lease Rate
$36.96 /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%
$63,684,760
Cap Rate 7%
$45,489,114
Cap Rate 9%
$35,380,422
Alternative Uses
Best Use
Retail
$45.49M
$39.80M – $53.07M
NOI $3,184,238 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2,393.73M
$2,094.51M – $2,792.68M
NOI $167,560,898 @ 7.0% cap · market cap 475.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91731, CA
28,197
Population
8,809
Households
3.2
Avg Household Size
38
Median Age
15%
College-Educated
68%
High-School Grad
3.8 sq mi
ZIP Area
7,420
Density / Sq Mi
$60,887
Median Household Income
$33,530
Median Earnings
$1,583
Median Rent
$614,000
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - New 125,974 SF Target store on 8.31 acres.
Where is this storefront property located?
The property is located at 3534 Peck Rd. El El Monte, CA.
What is the asking price?
The asking price for this property is $35,272,000.
What are key features of this property?
This property features: New 15‑year NNN lease with Target, featuring 10% rent increases every five years and four five‑year extension options.; Brand new, state‑of‑the‑art 125,974 square foot Target store opened in October 2024.; Located in the densely populated and high‑income El Monte submarket of Los Angeles.
