Current Use by Public Records
- Lifestyle centers
Property Details for 8844 Limonite Ave
- Year built
- 1980
- Lot size
- 7.00 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 78,825-square-foot retail center in Jurupa Valley, CA, presents a compelling investment opportunity. Located at 8844 Limonite Ave, 92509, this multi-tenant property boasts a 95% occupancy rate and a strong NOI of $1,349,671, yielding a 6.50% cap rate. The asking price is $20,764,000, translating to $263 per square foot. Built in 1980 and renovated in 2014, the center sits on a 7-acre lot (APN: 163-042-069) and features 15 tenants. Key anchors include a Walmart Neighborhood Market and Dollar Tree, representing 68% of the gross leasable area (GLA) under corporate leases. Other tenants include Little Caesars Pizza, Yum Yum Donuts, La Michoacana Premium, and Cricket Wireless. A significant portion (73%) of the GLA is occupied by creditworthy national and regional brands. Current rents are approximately 23% below market rates, offering substantial upside potential for rental growth. The center benefits from a hard corner location at a signalized intersection on Limonite Avenue (25,500+ cars per day) and Collins Street, with proximity to Van Buren Boulevard (48,400+ cars per day) and the Metrolink Jurupa Valley/Pedley station. This well-positioned, grocery-anchored center offers a rare opportunity in the Southern California market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jurupa Valley
- County
- Riverside
- State
- California
- Longitude
- -117.477
- Latitude
- 33.9743
