New Target Store in El
For Sale
Contact for pricing
3534 Peck Rd, El Monte, CA 91731
New 125,974 SF Target on 8.31 acres for sale.
Property Size125,974 SF
Lot Size8.31 Acres
Price / SF$279.99
Days on Market927
Property Features for 3534 Peck Rd
General Information
Standard status
Active
Size
125,974 SF
Lot size
8.31 Acres
Property subtype
Retail
Zoning
EMC3
Occupancy
100%
Lease Type
NNN
Investment Type
Core
Net Operating Income
$1,763,639
Building Details
Year Built
2024
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Newmark | Los Angeles - Downtown
Listed By:
Kyle Miller · License #CA 01716644
Source:
Crexi
Added: Jan 29, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:30AM
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 | Los Angeles - Downtown
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in a new single tenant NNN full-sized Target store in El Monte, a submarket of Los Angeles. The property features a 125,974 square foot Target store on approximately 8.31 acres of land. Target executed a new 15-year lease with 10% increases every five years and four five-year options to extend. Target opened this new facility on October 13, 2024. El Monte is located approximately 12 miles from Downtown Los Angeles, at the intersection of Interstates 10 and 605. The area has a dense and diverse consumer base and daytime population. Within a 3-mile radius, the population is 221,887 with an average household income exceeding $96,000. Within 5 miles, the population is over 537,000 with an average household income of $105,000. The property is adjacent to Longo Lexus and Longo Toyota. Other retailers in the area include Planet Fitness, Wendy’s, and Yoshinoya, with three pending national drive-thru tenants.
Key Highlights
- New 15‑year NNN lease with Target, a creditworthy tenant.
- New, state‑of‑the‑art Target store opened in October 2024.
- Located in a high‑density, high‑income Los Angeles submarket (El Monte).
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
Specialty Retail
$48.74M
$42.65M – $56.86M
NOI $3,411,683 @ 7.0% cap · market cap 9.67%
Second Best
Retail
$45.49M
$39.80M – $53.07M
NOI $3,184,238 @ 7.0% cap · market cap 9.03%
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
1,709
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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - New 125,974 SF Target on 8.31 acres for sale.
Where is this grocery and convenience store located?
The property is located at 3534 Peck Rd 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, a creditworthy tenant.; New, state‑of‑the‑art Target store opened in October 2024.; Located in a high‑density, high‑income Los Angeles submarket (El Monte).
