Kings Plaza | Pomona, CA

Highlights:

• Substantial Upside Through Vacant Space Lease-Up & Low-Rent Burger King With No Options
• Well Below Replacement Cost at $245/SF
• Annual Rent Increases | Projected 48% NOI Growth Over 5 Years
• Premium Corporate Credit Anchors & Irreplaceable Entitlements
• Premier 3.4-Acre Signalized Hard Corner at Fairplex Drive & W. Holt Avenue With Dominant Freeway Access
• Exceptional Exposure With ±100,000 VPD Along SR-71, ±20,700 VPD Along W. Holt Avenue & ±16,500 VPD Along Fairplex Drive
• Dense Infill Trade Area With Approximately 119,000 Residents Within a One-Mile Radius
• Affluent Demographics With Average Household Incomes Exceeding $115,000

Description:

Faris Lee Investments is pleased to present the opportunity to acquire a 45,777 SF multi-tenant neighborhood retail center situated on approximately 3.4 acres at the signalized intersection of Fairplex Drive and W. Holt Avenue in Pomona, California (“the Property”). Offered at $245/SF, the Property provides an attractive below-replacement-cost basis for a well-located Southern California retail asset, while benefiting from exceptional freeway visibility and immediate access to multiple on/off ramps serving both local and regional consumers. The Property benefits from exposure to more than ±100,000 vehicles per day along the adjacent Corona Freeway (SR-71), in addition to approximately ±20,700 VPD along W. Holt Avenue and ±16,500 VPD along Fairplex Drive.

The Property offers significant embedded upside through the lease-up of approximately 14% of the Property’s GLA, providing a clear path to near-term NOI growth without relying on broad market rent appreciation. Upon stabilization, the Property is positioned to improve from a 6.35% in-place cap rate to an approximately 8.48% stabilized yield, creating meaningful accretion in value through the execution of a straightforward lease-up strategy. In addition, approximately 53% of the Property’s GLA benefits from contractual 3%–4% annual rent increases, providing built-in revenue growth, an effective hedge against inflation, and increasing NOI throughout the early years of ownership.

The Property is anchored by premium corporate credit tenants, including AutoZone and a Burger King, providing foundational income from nationally recognized operators. The site also benefits from an irreplaceable high-traffic drive-thru entitlement for Burger King, supporting an e-commerce-resistant use and reinforcing the Property’s long-term relevance within the trade area. The combination of national-credit tenancy, contractual rent growth, and daily-needs retail provides a durable income profile while the existing vacancy and tenant rollover create additional opportunities for an investor to enhance cash flow and overall asset performance.

Additionally, the Property is strategically positioned within a dense, infill Southern California trade area, the Property serves approximately 119,000 residents and nearly 50,000 employees within a one-mile radius, with average household incomes exceeding $115,000. Kings Plaza is further supported by major regional economic drivers, including Cal Poly Pomona, with enrollment exceeding 27,000 students, Mt. San Antonio College with enrollment exceeding 50,000 students, Fairplex, which attracts more than 1 million annual visitors, Western University of Health Sciences, and Pomona Valley Hospital Medical Center.

Signalized hard-corner neighborhood retail center at Fairplex Drive and W. Holt Avenue with freeway visibility along SR-71/Chino Valley Freeway.

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