26545 Highland Ave Highland, CA 92346
- Lifestyle centers
- 20,042 SF
- 2.03 lot acres
Current Use by Public Records
- Spirit Halloween / Party Store / Costume Store
Property Details for 26545 Highland Ave
- Year built
- 1995
- Lot size
- 2.03 lot acres
- Property size
- 20,042 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a newly renovated 20,042 square foot Ross Dress for Less located in Highland, California. The property sits on a 2.03-acre lot (APN: 1191-241-35) and benefits from a brand-new 10-year net lease (NNN) with four 5-year options, commencing November 1, 2024. The tenant, Ross Dress for Less, Inc., is a credit-rated, Fortune 500 company with a strong financial profile. The property features a newly renovated building (1995, renovated 2024) including roof, HVAC, façade, and signage improvements. The lease structure is a triple-net lease (NNN), meaning the tenant is responsible for all property expenses including common area maintenance, property taxes, and insurance, minimizing landlord responsibilities. This strategically located shopping center is situated adjacent to a high-performing Food 4 Less grocery store, further enhancing its desirability and profitability. The asking price is $5,389,445, representing a price per square foot of $268.91 and a 5.95% cap rate with a current NOI of $320,672. The property is zoned for general commercial use and offers an exceptional opportunity for long-term, passive income generation. The store opening is scheduled for October 2024. This below-replacement-cost asset presents a compelling investment opportunity in a strong retail location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Highland
- County
- San Bernardino
- State
- California
- Longitude
- -117.225
- Latitude
- 34.1345
