233 E State St 9,345 SF 100% Leased Retail Building Redlands, CA 92373 $4,609,170 CAD ($493.22 CAD/SF) 5.04% Cap Rate
INVESTMENT HIGHLIGHTS
- Established Tenant History: Diverse mix of “Amazon proof” businesses.
- Prime Corner Location: High foot traffic with convenient access ensure long-term value.
- Strong Market: Downtown Redlands is a vibrant and growing market with consistent demand for commercial space.
- Attractive Cap Rate: The 5.04% cap rate offers a competitive return on investment.
EXECUTIVE SUMMARY
Strategically positioned in the heart of Redlands, Patio Shops is a prime location for businesses. With high visibility and easy access, this well-maintained property offers a diverse “amazon proof” tenant mix and a history of strong rental income.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,345 SF
Building Class
C
Year Built/Renovated
1962/2000
Price
$4,609,170 CAD
Price Per SF
$493.22 CAD
Cap Rate
5.04%
NOI
$232,302 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.98
Lot Size
0.22 AC
Zoning
Retail, Office, Special - Mixed Use - Office, Retail, Creative Space, Restaurant
Parking
2 Spaces (0.21 Spaces per 1,000 SF Leased)
Frontage
80’ on State St
AMENITIES
- 24 Hour Access
- Commuter Rail
- Corner Lot
- Courtyard
- Balcony
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0171-071-12 | Total Assessment | $2,007,251 CAD |
| Land Assessment | $424,815 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,582,436 CAD | Tax Year | 2024 |
