40516 Murrieta Hot Springs Rd Murrieta, CA 92563

Property Details for 40516 Murrieta Hot Springs Rd

Year built

2007

Property size

24,647 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 24,647 square foot, single-story retail building situated on a 108,900 square foot lot in Murrieta, CA. The property, built in 2007 and zoned RC (Regional Commercial), boasts 100% occupancy with two tenants: Harbor Freight Tools and Sola Salon Studios. Harbor Freight, occupying 16,948 square feet (approximately 71.2% of the building), has four years remaining on their lease with six five-year renewal options at 10% rent increases per option. Sola Salon Studios, occupying 7,699 square feet (approximately 28.8%), has three years remaining on their lease with four five-year renewal options including 2.5% annual rent increases. The property offers a strong net operating income (NOI) of $325,224, resulting in a 6.02% cap rate. Located within the Murrieta Plaza, a major retail center anchored by Sam's Club, Walgreens, and other national brands, this property benefits from high visibility and traffic along I-215. The asking price is $5,400,000, translating to $219.09 per square foot. Lease options are available, and rent bumps are included in the lease agreements. This prime Murrieta location offers an excellent opportunity for a secure and stable cash flow investment. The property's address is 40516 Murrieta Hot Springs Rd, Murrieta, CA 92563, APN 916-380-037.

Location Insight

City

Murrieta

County

Riverside

State

California

Longitude

-117.18

Latitude

33.5521