Lake Elsinore Development
For Sale
Contact for pricing
Lake Elsinore CA 92530, Lake Elsinore, CA 92530
12.54 acres of commercial land in Lake Elsinore, CA.
Property Size162,000 SF
Lot Size12.54 Acres
Price / SF$209.75
Days on Market81
Property Features for Lake Elsinore CA 92530
General Information
Standard status
Active
Size
162,000 SF
Lot size
12.54 Acres
Property subtype
Retail, Mixed Use, Land, Special Purpose
Listing Agency:
eXp Realty of California Inc
(951) 852-4757
Listed By:
Jason Graham · License #CA 01766858
Source:
Crexi
Added: May 12
Changed: Jul 10
Last Checked: Jul 31 at 5:51AM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
Located at the signalized corner of Ortega and Grand in Lake Elsinore, California, this 12.54-acre property consists of two parcels, APN # 's 381-320-026 & 381-320-020. The fee simple land is nearing final tentative tract map approval for 6 lots. Lot 1 is approved for a gas station, convenience store, office space (6,480 sq. ft.) with space on the 2nd story (approx. 1,4300 sq. ft.), and a QSR (approx. 1,912 sq. ft.) with CUP approval. Lots 2 and 3 are restaurant pads with drive-throughs, each 2,400 sq. ft., and have approved TTMs. Lot 4 is a pad for 60 condos in 5 buildings, totaling 93,365 sq. ft. (18,673 sq. ft. per building), with an approved TTM. Lot 5 is a pad for approximately 23,000 sq. ft. of retail space with 14 condos on the 2nd story (approx. 20,000 sq. ft.), also with an approved TTM. Lot 6 is a car wash pad with CUP approval. The property is located on the southernmost artery from Temecula Valley to South Orange County. Each of the lots are available for individual sale, or together as a bulk sale.
Key Highlights
- 12.54 acres on the signalized corner of Ortega & Grand, a high‑traffic location.
- Near final tentative tract map approval for 6 lots.
- Approved Conditional Use Permit (CUP) for a Gas Station/Convenience Store/Office/QSR on Lot 1.
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 | $3.50M | $21.60 |
| − Vacancy | −$182.0k | −$1.12 |
| EGI | $3.32M | $20.48 |
| − OpEx | −$995.2k | −$6.14 |
| NOI | $2.32M | $14.33 |
162,000 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$33.17M
$29.03M – $38.70M
NOI $2,322,069 @ 7.0% cap · market cap 6.83%
Second Best
Specialty Retail
$29.18M
$25.53M – $34.04M
NOI $2,042,658 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$48.53M
$42.47M – $56.62M
NOI $3,397,272 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
Market
Properties on Market for Commercial land in Lake Elsinore
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 12.54 acres of commercial land in Lake Elsinore, CA.
Where is this commercial land located?
The property is located at Lake Elsinore CA 92530 Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $33,980,000.
What are key features of this property?
This property features: 12.54 acres on the signalized corner of Ortega & Grand, a high‑traffic location.; Near final tentative tract map approval for 6 lots.; Approved Conditional Use Permit (CUP) for a Gas Station/Convenience Store/Office/QSR on Lot 1.
