29640 Rancho California Rd Temecula, CA 92591

Property Details for 29640 Rancho California Rd

Year built

1989

Construction

WOOD

Lot size

0.81 lot acres

Property size

5,362 SF

Zone code

C1CP

Property type

Banks

APN

921-320-045

APU

921320045

Description

This exceptional investment opportunity presents the chance to acquire fee simple ownership (land and building) of a Chase Bank property in Temecula, CA. The property boasts a 5,362 square foot building on a 0.81-acre lot, featuring a drive-thru ATM and ample parking (27 spaces). The property is situated at 29640 Rancho California Rd, Temecula, CA 92591, within the high-traffic Temecula Town Center, attracting over 4.8 million visitors annually. This prime location benefits from excellent visibility and accessibility, with proximity to Interstate 15 on/off ramps. The property is zoned Community Commercial (CC). The Chase Bank tenant, a corporate guaranteed, investment-grade tenant (S&P: A+), holds an absolute NNN lease with a remaining term of 4.9 years, followed by two 5-year renewal options, commencing October 1, 1994, and expiring October 1, 2029. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $289,548 and a 5.50% cap rate. The asking price is $5,265,000. The property's success is further supported by the strong demographics of the 5-mile trade area, boasting an average household income exceeding $137,000 and a significant resident and employee population. Built in 1989, this property offers a stable, low-maintenance investment with significant long-term potential. The property's APN is 921-320-045.

Location Insight

City

Temecula

County

Riverside

State

California

Longitude

-117.146

Latitude

33.505

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments