Listing Agency: SRS Industrial - Newport Beach Show Phone

Listed By: Pat Kent Show Phone

Source: Moodyscre

Added: Sep 5, 2024 Changed: Aug 11 Last Checked: Sep 12 at 6:07AM

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Investment Insights

Based on property information with market context.

A portfolio consisting of four retail properties within the Central Lakeside Shopping Center is available. The shopping center is currently 95% occupied and features a diverse mix of established corporate tenants. The property encompasses a total area of 59736 square feet.

Key Highlights

• 95% Occupancy Rate
• Part of Central Lakeside Shopping Center
• Four Retail Properties Included

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

$938,333

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

4.74%

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%

$18,766,660 $18.8M

Cap Rate 7%

$13,404,757 $13.4M

Cap Rate 9%

$10,425,922 $10.4M

Market Conditions

NOI Build-Up for 59,736 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

$1.43M $24.00/SF

− Vacancy

−$93.2K −$1.56/SF

EGI

$1.34M $22.44/SF

− OpEx

−$402.1K −$6.73/SF

NOI

$938.3K $15.71/SF

Area

San Diego County, CA

Vacancy

6.50%

Lease Rate

$24.00 /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%

$18,766,660

Cap Rate 7%

$13,404,757

Cap Rate 9%

$10,425,922

Alternative Uses

Best Use

Retail

$13.40M

$11.73M – $15.64M (±1% cap)

NOI $938,333 @ 7.0% cap · market cap 4.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$27.37M

$23.95M – $31.93M (±1% cap)

NOI $1,915,834 @ 7.0% cap · market cap 9.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Dental Office Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

957

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

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• Central Lakeside Shopping Center — 9740 Winter Gdns Blvd, Lakeside, CA 92040
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Frequently Asked Questions

What type of property is this?

Shopping center - Four retail properties in Lakeside shopping center, 95% occupied.

Where is this shopping center located?

The property is located at 9720-9769 Winter Gardens Blvd Portfolio Lakeside, CA.

What is the asking price?

The asking price for this property is $19,800,000.

What are key features of this property?

This property features: 95% Occupancy Rate; Part of Central Lakeside Shopping Center; Four Retail Properties Included