2102 Palm Ave Highland, CA 92346
- Lifestyle centers
- 17,200 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 2102 Palm Ave
- Year built
- 1980
- Property size
- 17,200 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
- APN
- 1191-301-06-000
Description
Highland Plaza, located at 2102 Palm Ave, Highland, CA 92346, presents a compelling value-add opportunity in the thriving San Bernardino County market. This 17,200 square foot shopping center boasts a multi-tenant occupancy of 71%, comprising 10 units across three buildings. The property features a classic strip center design with a two-story office building, strategically situated on a 120-foot frontage along Palm Avenue, near a major intersection. Built in 1980, the property offers a strong existing tenant base, providing a solid foundation for future growth. The asking price is $2,600,000, representing a price per square foot of $151.16 and a 4.86% cap rate based on a current Net Operating Income (NOI) of $126,300. The property includes 50 parking spaces. Leases are gross, with no tenant credit rating currently available. The current lease expiration date is May 31, 2024, resulting in zero remaining lease term. The property's location offers convenient access to Interstate 210, enhancing its visibility and accessibility. This property is identified by APN 1191-301-06-000. The investment highlights include its prime location and the potential for significant value appreciation through lease renewals and property improvements. This is an exceptional opportunity for investors seeking a strong return on investment in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Highland
- County
- San Bernardino
- State
- California
- Longitude
- -117.2091497
- Latitude
- 34.1344178
