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31760 Casino

Lake Elsinore, CA 92530
  • $8,286,750
  • STATUS: Active
  • ON SITE: 180 days
  • ID#: CV21022094
UPDATED: 26 min ago
$8,286,750
  • 0
    BEDS
  • 2.51
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 31,747
    SQFT
  • $261
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1990
County:

School Ratings & Info

Description

6% Current CAP Rate - We are proud to present Lakeview Plaza, a 3-tenant retail/office building located in the City of Lake Elsinore, California. Built in 1990, the property sits on 2.51 acres and has a combined building size of approximately 31,747 square feet. The building is situated with approximately 500 feet of street frontage on Casino Drive and also offers gated rear access to the suites, a freeway pylon sign, covered walkways and approximately 110 parking spaces. The current tenants are long-term and have all signed leases that provide for annual rent increases. Upon the execution of the lease, the County of Riverside tenant improvements were in excess of $900,000. Rancho Physical Therapy tenant improvements include an indoor therapy pool and private treatment rooms.Lakeview Plaza has a strong location with freeway visibility on Interstate 15 and is located within one mile of the southeasterly shore of Lake Elsinore and several master plan residential communities including Summerly development that consists of approximately 1,979 dwelling units, several parks, recreation areas and an 18-hole golf course.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-03T09:25:13.24. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/113889158
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31760 Casino Lake Elsinore, CA 92530

  • Price: $8,286,750
  • Status: Active
  • Updated: 26 min ago
  • ID#: CV21022094
0
Beds
0
Baths
0
½ Baths
2.51
Acres
31,747
SQFT
$261
$/SQFT
1990
Built
Neighborhood:
699 - Not Defined
County:
Riverside
Area:
699 - Not Defined
Property Description
6% Current CAP Rate - We are proud to present Lakeview Plaza, a 3-tenant retail/office building located in the City of Lake Elsinore, California. Built in 1990, the property sits on 2.51 acres and has a combined building size of approximately 31,747 square feet. The building is situated with approximately 500 feet of street frontage on Casino Drive and also offers gated rear access to the suites, a freeway pylon sign, covered walkways and approximately 110 parking spaces. The current tenants are long-term and have all signed leases that provide for annual rent increases. Upon the execution of the lease, the County of Riverside tenant improvements were in excess of $900,000. Rancho Physical Therapy tenant improvements include an indoor therapy pool and private treatment rooms.Lakeview Plaza has a strong location with freeway visibility on Interstate 15 and is located within one mile of the southeasterly shore of Lake Elsinore and several master plan residential communities including Summerly development that consists of approximately 1,979 dwelling units, several parks, recreation areas and an 18-hole golf course.
Exterior Features

Lot Features Lot Over 40000 Sqft

Property Features

Additional Parcels YN Yes Cap Rate 6 Common Interest None Gross Scheduled Income 712938 Insurance Expense 5400 Laundry Features None Listing Agreement Exclusive Right To Sell Maintenance Expense 9000 Net Operating Income 497205 Operating Expense 198545 Other Expense 2400 Property Sub Type Retail Special Listing Conditions Standard Trash Expense 7200 Vacancy Allowance 21388 Water Sewer Expense 18000 Water Source Public

Listing provided courtesy of Douglas Mccauley of Marcus & Millichap and David Covarrubias of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-03T09:25:13.24. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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