8020 Palm Ave, Highland, CA 92346

Property Description

This property presents a great opportunity for an investor. The existing building can be leased at a reasonably low rate and still achieve a Great California Cap Rate. The potential rent range is higher. The Seller is just interested in a fast cash deal so we are blowing this one out on a pro-forma basis of an 9.99% Cap at the low range of rent of $1.25 PSF NNN. Even at $1.00 PSF NNN this would still be a 7.99% Cap Rate when leased (some rehab needed). The road where this property sits on this hard corner is also in the process of being widened and will be complete at this intersection very soon. This road is a main arterial for traffic traveling between Redlands and Highland. Opposite corners have and AM/PM Arco and Farmer Boys. Close to the San Bernardino Airport and in the Business Park Zone providing a wide range of uses. The building appears to be in pretty good shape. Some work was recently done to the property. Some additional work will need to be done to get two of the suites rent ready. 4 Units currently built out as 3 units - could be single tenant if desired. Owner-User to vacate at the close of escrow. This property sits on a commercial hard corner just west of the 210 Foothill freeway in Highland, California.