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661 N State Street

661 N State Street
San Jacinto, CA 92583
Availability: Price:$1,770,000 Size:7,200 SF
Shipping: Marcus & Millichap is pleased to present 661 N State Street,
Pricing: $0.00
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

BRAD PETERS | Associate


Managing Partner: Tashakorian Group
License: CA 02025155
Dir: (858) 373-3227
Cell: (805) 208-6210
brad.peters@marcusmillichap.com

Description

Marcus & Millichap is pleased to present Ramona Crossings, located at 661 N State Street in San Jacinto, CA. This single-tenant, 7,200 SF retail building is home to Angel View Incorporated, a non-profit serving children and adults with Disabilities. Angel View Operates 21 locations in Southern California and more than 5 and a half years remaining on a NNN lease signed in April 2016. The lease has annual increases of 2.5% until 2019 and then 3.0% increases throughout the remainder of the term. Angel View also has (2) 5-Year options to renew and Fair Market Value. The offering is situation on 28,878 SF of land and has 30 parking spaces, for a ratio over 4 per 1,000 SF.

The city of San Jacinto is located in Riverside County, is one of Southern California' s fastest growing regions, with over 4,600 homes under development and another 10,000 planned. Village at San Jacinto is strategically located at the signalized intersection of State Street, the major retail corridor of the trade area, and Ramona Expressway (State Hwy 79), the main arterial into San Jacinto. The intersection has a combined daily traffic count over 80,000 vehicles and is next to Mt. San Jacinto College with 4,200 students.

Features

  • Single-Tenant, NNN-Leased Retail Store
  • Annual Increases and (2) 5-Year Options to Renew
  • Below Market Rents
  • More than 5.5 Years Remaining on Lease
  • Tenant, Angel View Incorporated, Operates more than 20 Locations in Southern California
  • Adjacent to San Jacinto High School
  • Minutes from Soboba Springs Country Club, Soboba Casino and Soboba Hot Springs

List Price

$1,770,000

Price / SF

$245.83

Cap Rate

5.00%

Lease Expiration

6/30/2023

Year Built

2009

Annual Increases

2.5%

Options

(2) 5-Year

Guarantee

Corporate

Details

  • 22932260
  • Retail
  • Price:$1,770,000 Size:7,200 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Marcus & Millichap is pleased to present 661 N State Street,

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