Shoppes on Baseline
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Shoppes on Baseline
3 Properties Offered at £2,054,026 in Multiple Locations
Investment Highlights
- In-place rental rates average just $1.58 NNN, significantly below market when compared to similar grocery anchored centers in the trade area
- Shoppes on Baseline is a shadow-anchored strip center with a diverse mix of service-oriented tenants, and anchored by a Cardenas Markets (NAP)
- Potential opportunity to develop additional SF on the hard corner (.31 AC) and increase the in-place cash flow and value of the property
- Fee simple ownership allows for an investor to depreciate the existing improvements increasing after-tax cash-on-cash returns
Executive Summary
CBRE is delighted to showcase a unique investment in the bustling heart of Highland, California—an opportunity that includes two value-add strip center properties and a promising land development site. Situated at the heavily trafficked and signalized intersection of E. Baseline Street and Sterling Avenue, and shadow anchored by Cardenas Markets (NAP), these properties capture a combined daily traffic count of over 27,000 CPD highlighting their prime visibility and access. The East and West rental properties are approximately ±6,000 sf each, offering substantial upside upon retenanting and reconfiguration of the buildings. Additionally, the included ±13,309 sf land parcel provides a rare development opportunity in a high-growth area to develop additional GLA and further increase cash flow.
Property Facts
| Price | £2,054,026 | Status | Active |
| Price / SF | £171.17 / SF | Number of Properties | 3 |
| Sale Conditions | Development Sale | Individually For Sale | 0 |
| Net Initial Yield | 8.72% | Total Building Size | 12,000 SF |
| Sale Type | Investment or Owner User | Total Land Area | 1.15 AC |
| Price | £2,054,026 |
| Price / SF | £171.17 / SF |
| Sale Conditions | Development Sale |
| Net Initial Yield | 8.72% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 12,000 SF |
| Total Land Area | 1.15 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| Baseline St, San Bernardino, CA 92410 | Land | 0.31 AC | - | - |
| 25755 Baseline st, Highland, CA 92346 | Retail | 6,000 SF | 1970 | - |
| 25725 Base Line St, San Bernardino, CA 92410 | Retail | 6,000 SF | 1970 | - |
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Darren Fitch -
Arthur Flores -
James Kaye -
Jay Gomez -
CBRE
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Shoppes on Baseline
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