41920 6th St
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41920 6th St
15,200 SF 100% Leased Retail Building Temecula, CA 92590 £2,895,065 (£190/SF)
Executive Summary
OLD TOWN TEMECULA - INVESTORS, DEVELOPERS - Multiple Opportunities here to own and or develop this Commercial Retail Property. 6 Legal Lots- 21,000sf Footprint, Existing Retail Building- 41910/41920 6th Street - 14,000sf. Across the street from the Farmer's Market and City Parking Lot. 4 Story Height Limit. Property is suitable for remaining as existing Retail/ Office, or to be developed as a boutique Hotel, Luxury Hotel, Mixed Use Center, New Retail, New Office, or Affordable Housing Complex. Several Conceptual Plans have been done. Owners are also amenable to a Joint Venture or Equity Partner. New Retail month to month tenants will provide interim cash flow during entitlement process. 2nd floor is not fully complete. Incredible upside to finish 2nd floor as Office and add 6,000sf of Leaseable space/ Push up Monthly Income and Cap Rate. Contact City of Temecula Planning and/or Listing Agent for more information. 4 Lots and building next door to the West are also available separately.
Financial Summary (Pro forma - 2021) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£253,514
|
£16.68
|
| Other Income |
£9,389
|
£0.62
|
| Vacancy Loss |
£26,134
|
£1.72
|
| Effective Gross Income |
£236,769
|
£15.58
|
| Taxes |
£35,993
|
£2.37
|
| Operating Expenses |
£19,561
|
£1.29
|
| Total Expenses |
£55,554
|
£3.65
|
| Net Operating Income |
£181,215
|
£11.92
|
Financial Summary (Pro forma - 2021)
| Gross Rental Income | |
|---|---|
| Annual | £253,514 |
| Annual Per SF | £16.68 |
| Other Income | |
|---|---|
| Annual | £9,389 |
| Annual Per SF | £0.62 |
| Vacancy Loss | |
|---|---|
| Annual | £26,134 |
| Annual Per SF | £1.72 |
| Effective Gross Income | |
|---|---|
| Annual | £236,769 |
| Annual Per SF | £15.58 |
| Taxes | |
|---|---|
| Annual | £35,993 |
| Annual Per SF | £2.37 |
| Operating Expenses | |
|---|---|
| Annual | £19,561 |
| Annual Per SF | £1.29 |
| Total Expenses | |
|---|---|
| Annual | £55,554 |
| Annual Per SF | £3.65 |
| Net Operating Income | |
|---|---|
| Annual | £181,215 |
| Annual Per SF | £11.92 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Storefront
Building Size
15,200 SF
Building Class
C
Year Built
1987
Price
£2,895,065
Price Per SF
£190
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.44
Lot Size
0.80 AC
Zoning
C2 - Old Town Specific Plan- Commercial
Parking
27 Spaces (1.78 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Walk Score ®
Very Walkable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £3,903,601 (2023) | |
| Land Assessment | £2,458,858 (2023) | Annual Taxes | £35,993 (£2.37/sf) |
| Improvements Assessment | £1,444,743 (2023) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£2,458,858 (2023)
Improvements Assessment
£1,444,743 (2023)
Total Assessment
£3,903,601 (2023)
Annual Taxes
£35,993 (£2.37/sf)
Tax Year
2021
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41920 6th St
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