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Palomar Yard 26420 Palomar Rd

9,918 SF 100% Leased Industrial Building Menifee, CA 92585 £2,488,191 (£251/SF) 4.21% Net Initial Yield

Investment Highlights

  • RE-DEVELOPMENT OPPORTUNITY
  • CONTRACTOR'S YARD
  • OWNER USER OPTION

Executive Summary

AVAILABLE FOR SALE: Terrific 3.52 Acre of Flat Land along with 3 buildings: Warehouse (Approx. 6,000 sqft) + Office (2,418 sqft) + Shop (approx. 2,500 sqft) UNIQUE OPPORTUNITY: Owner transferring Entitlement Process along with an executed Easement option worth twice the approx. costs of such proposed entitlement costs. Call agent to inquire. Currently leased until June 2026. Building Zoning allows industrial and related uses including warehousing/distribution, assembly and light manufacturing, repair facilities, and business parks, including corporate offices. Employee-intensive uses, including research and development, technology centers, "clean" industry, and supporting hotel and ancillary retail uses are also permitted. The permissible development density is between the minimum and maximum floor area ratio. CONVENTIENTLY Located just 1 mile away from 215 FWY, and within 25 minutes of Perris, Riverside and Temecula. Water is city. Power on generators. Septic and Propane Connected. Property will be Sold AS IS. We strongly encourage all prospective buyers, to perform their own due diligence regarding square footage and all aspects of property, including Zoning, Licensing, entitlement, costs, easement options and utilities in order to be fully satisfied. Brokers/agents will not be responsible for any discrepancies on any of the previously mentioned aspects.

Property Facts

Price £2,488,191
Price Per SF £251
Sale Type Investment or Owner User
Net Initial Yield 4.21%
Sale Conditions
1031 Exchange
  • Development Sale
Property Type Industrial
Property Subtype Manufacturing
Building Class B
Lot Size 3.58 AC
Rentable Building Area 9,918 SF
Number of Floors 1
Year Built 1980
Parking Ratio 3.1/1,000 SF
Clear Ceiling Height 14 ft
Level Access Doors 2
Cross Streets Matthews

Amenities

  • Fenced Lot
  • Front Loading
  • Yard
  • Storage Space

Utilities

  • Gas - Propane
  • Water - City
  • Sewer - Septic Field
  • Heating - Electric

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • COMPASS BUILDERS, INC
  • Construction
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
COMPASS BUILDERS, INC Construction 99,999 SF $9.99 Lorem Ipsum Jan 0000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
331-220-043
Land Assessment
£688,556
Improvements Assessment
£954,589
Total Assessment
£1,643,145

zoning

Zoning Code BP/Light Industrial (Allows industrial and related uses including warehousing/distribution, assembly and light manufacturing, repair facilities, and business parks.)
BP/Light Industrial (Allows industrial and related uses including warehousing/distribution, assembly and light manufacturing, repair facilities, and business parks.)
  • Listing ID: 33075873

  • Date on Market: 05/09/2024

  • Last Updated:

  • Address: 26420 Palomar Rd, Menifee, CA 92585

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