Plaza Tower Business Center
$2,210,000
34590 County Line Rd, Oak Glen, CA 92399
9,120 sqft
Building Size
0.8845 acres
Lot Area
Details:
Description:
Progressive Real Estate Partners is pleased to present Tower Plaza, a 93% occupied multi-tenant commercial center in Yucaipa, CA, a rapidly growing foothill community with strong residential momentum and increasing demand for neighborhood retail/commercial services. Offered well below replacement cost at just $164/SF, the property is leased to eight service-oriented tenants paying below-market rents averaging $1.12/SF Modified Gross ($0.83/SF NNN), providing a day-one 6.75% all-cash yield with immediate upside potential through marking rents to market. The flexible month-to-month and short-term leases allow new ownership the flexibility capitalize on this value-add opportunity and drive NOI growth immediately. Owned by the original developer (a local family based in the area), Tower Plaza has been carefully maintained with no known immediate capital improvement requirements, featuring a durable concrete parking lot, extensive interior build outs, continuously maintained roof/HVAC, and fresh paint (completed early 2025).
Center is located in Yucaipa which has experienced significant population growth, increasing by 30.41% from 2000 to 2023. This steady growth reflects a thriving local economy and a rising demand for commercial services, enhancing the long-term viability of investments in the area.
Documents:
| Title | ||
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| Yucaipa_-_Value-Add_Commercial_Center.pdf |
Location
Gallery
