WILDOMAR RETAIL CENTER - A NET LEASED OFFERING 22812 PALOMAR STREET | WILDOMAR, CA 92595 - LoopNet
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WILDOMAR RETAIL CENTER
A NET LEASED OFFERING
22812 PALOMAR STREET | WILDOMAR, CA 92595
1
2
OVERVIEW
100% LEASED RETAIL CENTER
22812 PALOMAR RD | WILDOMAR, CA
$2,799,000 6.12%
PRICE CAP
LEASE ANGEL VIEW SNS NAILS TRIBE SALON
EXPIRATIONS: 10/31/2023 3/31/2022 7/31/2022
LEASABLE SF LAND AREA LEASE TYPE
9,617 SF 1.51 AC ABSOLUTE NNN
BUILT SHOPPING CENTER PARKING
2008 65 (6.78/1,000 SF)
ALL NEWER LEASES WITH OPTIONS
ANNUAL INCREASES FOR ALL THREE TENANTS
STRONG DAYTIME TRAFFIC
THE PROPERTY IS IN A FAST GROWING TRADE AREA WITH STRONG DEMOS
$95,0000 + HOUSEHOLD INCOME
3
INVESTMENT HIGHLIGHTS CONTACT THE TEAM
THE OFFERING is a 3-Tenant retail building in Wildomar, CA
with new absolute NNN leases in place featuring zero Landlord
management or maintenance expenses. It is located on a NICK CORBELL
signalized corner featuring excellent visibility along Clinton
Keith Blvd., with over 18,000+ VPD. The subject property is ncorbell@leetemecula.com
located in a Rite Aide anchored center and is the only drugstore P: 951.445.4522
anchored center in the immediate vicinity. DRE # 01932821
THE SUBJECT PROPERTY is located in Wildomar, California, NICK EARLE
which is an incorporated City within Riverside County, California
boasting a median income of over $77,000 and a population of nearle@leetemecula.com
over 36,000 in 2016. Wildomar is the home of the Inland Valley P: 951.445.4528
Medical Center and several residential housing projects that DRE # 1916982
are in various stages of City approval and development with
the median home price at ±$406,600.
BRIAN BIELATOWICZ
bbielatowicz@leetemecula.com
P: 951.445.4515
DRE # 01269887
No warranty or representation has been made to the
accuracy of the foregoing information. Terms of sale or lease
and availability are subject to change or withdrawal without
notice. Lee & Associates Commercial Real Estate Services,
Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta,
CA 92562 | Corporate ID# 01048055
4
HANCOCK AVE
AERIAL
16,000
CPD
SHIEVELA
M.S.
RD
TH
JACKSON AVE
EI
K
N
TO
CA
N
SANTA ROSA
E. HALE
I
CL
APARTMENTS
CURRAN
LO
OAK SPRINGS
RANCH
APARTMENTS
E.S.
MURRIETA
AK
MESA
H.S.
131,000
SR
CPD
D
INLAND
VALLEY
MEDICAL
15
CENTER
OLIVE
WOOD
JEFFERSON AVE
GRAND
ISLE SENIOR
HOMES KALMIA
7,000 PLAZA
WILDOMAR CPD TOWN
RETAIL SQ.
KALMIA ST
CENTER
S T
THE PALOMAR 10,000
CPD
BARN
MURRIETA
E.S.
BEAR WASHINGTON AVE
VALLEY
PLAZA
ST
EG
MURRIETA
VALLEY
TM
H.S.
NU
THOMPSON
M.S.
COLE
CANYON
BEAR
CREEK
5
“THE CITY OF WILDOMAR WILL BE A SAFE
AND ACTIVE COMMUNITY, RESPONSIBLY
GROWN, WITH QUALITY INFRASTRUCTURE
WHILE KEEPING A HOMETOWN FEEL”
RIVERSIDE is a city in Riverside County,
California, United States, located in WILDOMAR Wildomar is
the Inland Empire metropolitan area. a city in Riverside County,
Riverside is the county seat of the California, United States. It
eponymous county and named for its was incorporated on July 1,
location beside the Santa Ana River. It 2008.[1] The city is located
is the most populous city in the Inland in a fast-growing area. As
Empire and in Riverside County, and is of the 2010 census, the
located about 55 miles (89 km) east of population of Wildomar was
downtown Los Angeles 32,176, an increase from
WILDOMAR
RETAIL
14,064 at the 2000 census,
CENTER
when the community was
still an unincorporated
THE INLAND EMPIRE is a metro area
census-designated place.
east of Los Angeles and composed of
Riverside County and San Bernardino
County. The Inland Empire is one of the
fastest growing regions in California
with over 4.5 million residents and a
job market projecting positive growth
between 2016-2026.
6
SUBMARKET OVERVIEW
RETAILERS IN CLOSE PROXIMITY INCLUDE:
7-ELEVEN DENNY’S MCDONALD’S
ARCO DUNKIN DONUTS PANDA EXPRESS
BARONS MARKET EL POLLO LOCO SHELL
BEAN COFFEE FARMERS INSURANCE SPRINT
ROASTERS
FITNESS 19 TACO BELL
CHASE BANK
GREAT CLIPS THE HABIT
DEL TACO
JACK IN THE BOX YELLOW BASKET
This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
BUSINESS SUMMARY
TOTAL 1-MILE 3-MILES 5-MILES
BUSINESSES 336 1,138 3,226
EMPLOYEES 2,343 7,689 25,714
RESIDENTIAL
6,888 60,535 123,796
POPULATION
7
INCOME & EXPENSE
PRICE $2,799,000
Price Per Square Foot: $291.05
Capitalization Rate: 6.12%
Total Rentable Area (SF): 9,617
STABILIZED INCOME PER SQUARE FOOT
Scheduled Rent See full offering
Effective Gross Income memorandum for details
LESS PER SQUARE FOOT
Taxes Tenant Paid
Insurance Tenant Paid
Total Operating Expenses Tenant Paid
TOTAL LANDLORD EXPENSES $0.00 $0
See full offering
EQUALS NET OPERATING INCOME
memorandum for details
This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies. 8
RENT ROLL
This Angel View location has the highest
ANGEL VIEW: ±6,345 SF average donations of all locations in the
11/01/2018 – 10/31/2019 region.
11/01/2019 – 10/31/2020
See full offering
11/01/2020 – 10/31/2021 memorandum for
details
11/01/2021 – 10/31/2022
11/01/2022 – 10/31/2023
One (1) Sixty (60) month option FMV but
ONLY SNS NAILS: ±1,580 SF not to be less than 103% of the immediately
04/01/2019 – 03/31/2020 preceding month’s base annual Rental Rate
with 3% annual increases thereafter.
04/01/2020 – 03/31/2021
04/01/2021 – 03/31/2022
04/01/2022 – 03/31/2023
4% annual increases throughout
TRIBE SALON: ±1,692 SF initial term and 3% annual increases
08/01/2018 – 07/31/2019 throughout the option term.
08/01/2019 – 07/31/2020 See full offering
memorandum for
08/01/2020 – 07/31/2021 details
08/01/2021 – 07/31/2022
This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies. 9
LEASE ABSTRACT LEASE
PROVISIONS THE LEASE IS ABSOLUTE NNN WITH
ZERO LANDLORD MANAGEMENT /
MAINTENANCE EXPENSES
PREMISE & TERM TENANT’S OBLIGATIONS - All
TENANTS Angel View
LANDLORD’S OBLIGATIONS - None
Only SNS Nails
Tribe Salon
ASSIGNMENT - Only with written Landlord
BUILDING SF ±9,617 SF approval (see lease)
LEASE TYPE Absolute Net RIGHT OF FIRST OFFER - None
RENT
BASE RENT BASE RENT BASE RENT
ANGEL VIEW: ONLY SNS NAILS: TRIBE SALON:
MONTHLY ANNUAL MONTHLY ANNUAL MONTHLY ANNUAL
DATE RANGE DATE RANGE DATE RANGE
RENT RENT RENT RENT RENT RENT
11/01/2018 – 10/31/2019 04/01/2019 – 03/31/2020 08/01/2018 – 07/31/2019
11/01/2019 – 10/31/2020 04/01/2020 – 03/31/2021 See full offering memorandum 08/01/2019 – 07/31/2020 See full offering memorandum
See full offering memorandum for details for details
11/01/2020 – 10/31/2021 04/01/2021 – 03/31/2022 08/01/2020 – 07/31/2021
for details
11/01/2021 – 10/31/2022 04/01/2022 – 03/31/2023 08/01/2021 – 07/31/2022
11/01/2022 – 10/31/2013
This information has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must
verify the information and bears all risk for any inaccuracies. 10SITE PLAN
A P Only
N
SNS Tribe
Nails Salon
This information has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must
verify the information and bears all risk for any inaccuracies. 11DEMOGRAPHICS
POPULATION
1-MILE 3-MILES 5-MILES
2010 4,781 53,589 109,882
2018 6,888 60,535 123,796
2023 7,301 64,273 131,934
WILDOMAR
2018 HH INCOME
1-MILE 3-MILES 5-MILES
AVERAGE $89,080 $95,096 $92,765
MEDIAN $86,448 $84,738 $80,772
TOP EMPLOYERS IN RIVERSIDE COUNTY
EMPLOYER # OF EMPLOYEES
County of Riverside 22,538
University of California, Riverside 8,686
March Air Reserve Base 8,500 THE AVERAGE HOUSEHOLD
INCOME WITHIN A 5-MILE RADIUS
Amazon 7,500
Kaiser Permanente Riverside
5,739
IS OVER $93K
Medical Center
This information has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must
verify the information and bears all risk for any inaccuracies. 12LOCATION OVERVIEW
WILDOMAR
CALIFORNIA
WILDOMAR is a community of old and new, more mature homes and acreages Currently leased by the Wildomar Chamber of Commerce, the building has served
with horses and other animals mixed with more modern housing tracts. Nestled the community in one capacity or another for over 100 years. Originally on Lemon
between the cities of Murrieta and Lake Elsinore, Wildomar officially became a city Street, the building was moved to its present location in 1895 — selected because
on July 1, 2008, at that time home to about 28,000 residents. the railroad tracks ran behind the building. The building was to be a stop for the
railroad. Once the railroad no longer ran through Wildomar, the building found
The name Wildomar was coined from the names of its three founders -- the WIL from other uses. In 1993, the Animal Friends of the Valleys and the chamber brought
William Collier, the DO from Donald Graham and the MAR from Margaret Collier the building back into a serviceable condition. These two agencies have shared the
Graham. building ever since.
Wildomar had been an outpost for the pony express for the Butterfield Stage,
and in the early part of this century, a stop for the Southern California Railroad. INLAND The Inland Empire is located east of Los Angeles with a population
exceeding 4.5 million residents. The Inland Empire is now one of the
After the tracks washed out, growth in the area slowed and Wildomar remained EMPIRE nation’s fastest growing economies, and Riverside-San Bernardino-
a farming and ranching area, including a large number of horse ranches. Ontario is now America’s 13th largest MSA, ahead of Seattle, San
Diego, and Denver. The Inland Empire has been California’s fastest
Construction of the I-15 freeway brought urban-type growth to Wildomar, which led growing region for decades – largely due to various housing booms
to the mixture of urban and rural. Wildomar Incorporation Now, commonly known and the exploding logistics/ warehousing industry. Due to the high
as WIN, led the effort to incorporate. Its office was in a small, unassuming historic costs of Los Angeles, many residents move east and commute into
building near the corner of Mission Trail and Corydon. It is one of the oldest public Los Angeles County.
buildings in the area.
This information has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must
verify the information and bears all risk for any inaccuracies. 13CONTACT THE TEAM NICK CORBELL ncorbell@leetemecula.com P: 951.445.4522 DRE # 01932821 NICK EARLE nearle@leetemecula.com P: 951.445.4528 DRE # 1916982 BRIAN BIELATOWICZ bbielatowicz@leetemecula.com P: 951.445.4515 DRE # 01269887 No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 | Corporate ID# 01048055
No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 Corporate ID# 01048055 25240 Hancock Avenue, Suite 100 | Murrieta, CA 92562 | 951.445.4500 | lee-associates.com
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