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Shopping Strip

Indian Hill Plaza

663 Indian Hill Blvd, Pomona, CA 91767

Listing Price: $5,950,000

Cap Rate
7.00%
Gross SF
36,824
Rentable SF
36,824
Price/Gross SF
$161.58
Lot Size
2.65 acres
Year Built
1961

Investment Overview

Indian Hill Plaza is a very well-located retail center with 435 feet of frontage along Indian Hill Blvd in the city of Pomona and is only one mile from Interstate 10. The property shares a driveway with a 44,000 square foot El Super, a high-volume Hispanic grocery store with over 64 locations. This combined retail site sits at the intersection of Indian Hill & Holt Blvd, with daily car counts of 35,000 and 26,000 respectively.   It is priced at an extremely attractive 7% CAP, with an opportunity to further increase yield by leasing the two remaining vacancies totaling 2,925 square feet. The below market rents are averaging only $1.26 per square foot, presenting even greater upside potential. There is even more upside by increasing the existing tenant reimbursables from only $5.55 per square foot up to the existing total expenses of $7.77 per square foot that includes the new taxes.   Many tenants in the center have been occupants for over a decade. The immediate area is growing with the addition of two 60+ unit apartment complexes within walking distance of the property; and a large residential neighborhood of 106 3-bedroom homes within a half mile of the center. Just down the street is “The Village “, which has expanded to over 600,000 square feet on over 50 acres and is within walking distance of the subject property with bus connections to the Metrolink.   The Seller will leave $250,000 in an Escrow account to cover any lingering costs from a dry cleaner that previously occupied the property dating back to the early 60’s. We will provide the existing Phase 1 and Phase 2 reports. The Seller has owned the property since 1986 that is professionally managed by Fertig & Gordon. Priced at only $161 per square foot, this investment offers a truly great opportunity.

Investment Highlights

  • Exceptional Traffic Counts - Located near the corner of Indian Hill Blvd (35,000 VPD) & Holt Blvd (27,000 VPD)
  • Subject Property shares a driveway with El Super Grocery Store (High Volume Store with more than 64 Locations)
  • Below Market Rents averaging only $1.26/ft.
  • Upside Potential through Leasing Vacant Space, Raising Rents to Market, and by increasing Tenant CAM Reimbursements (7.64% Return by end of Year 1 *Ask Broker for Details*)
  • 30,000 People Live within One Mile
  • Many Tenants have been Occupants for over a Decade
  • Indian Hill Plaza boasts 435 feet of frontage along Indian Hill Blvd, and is only one mile from the Interstate 10 Fwy
  • Located on the major arterial to and from, "The Village at Indian Hill" which has expanded to over 600,000 square feet on over 50 acres

Exclusively Listed By

Financing By

Shopping Strip

Indian Hill Plaza

Listing Price: $5,950,000

Cap Rate
7.00%
Gross SF
36,824
Rentable SF
36,824
Price/Gross SF
$161.58
Lot Size
2.65 acres
Year Built
1961

Investment Highlights

  • Exceptional Traffic Counts - Located near the corner of Indian Hill Blvd (35,000 VPD) & Holt Blvd (27,000 VPD)
  • Subject Property shares a driveway with El Super Grocery Store (High Volume Store with more than 64 Locations)
  • Below Market Rents averaging only $1.26/ft.
  • Upside Potential through Leasing Vacant Space, Raising Rents to Market, and by increasing Tenant CAM Reimbursements (7.64% Return by end of Year 1 *Ask Broker for Details*)
  • 30,000 People Live within One Mile
  • Many Tenants have been Occupants for over a Decade
  • Indian Hill Plaza boasts 435 feet of frontage along Indian Hill Blvd, and is only one mile from the Interstate 10 Fwy
  • Located on the major arterial to and from, "The Village at Indian Hill" which has expanded to over 600,000 square feet on over 50 acres

Investment Overview

Indian Hill Plaza is a very well-located retail center with 435 feet of frontage along Indian Hill Blvd in the city of Pomona and is only one mile from Interstate 10. The property shares a driveway with a 44,000 square foot El Super, a high-volume Hispanic grocery store with over 64 locations. This combined retail site sits at the intersection of Indian Hill & Holt Blvd, with daily car counts of 35,000 and 26,000 respectively.   It is priced at an extremely attractive 7% CAP, with an opportunity to further increase yield by leasing the two remaining vacancies totaling 2,925 square feet. The below market rents are averaging only $1.26 per square foot, presenting even greater upside potential. There is even more upside by increasing the existing tenant reimbursables from only $5.55 per square foot up to the existing total expenses of $7.77 per square foot that includes the new taxes.   Many tenants in the center have been occupants for over a decade. The immediate area is growing with the addition of two 60+ unit apartment complexes within walking distance of the property; and a large residential neighborhood of 106 3-bedroom homes within a half mile of the center. Just down the street is “The Village “, which has expanded to over 600,000 square feet on over 50 acres and is within walking distance of the subject property with bus connections to the Metrolink.   The Seller will leave $250,000 in an Escrow account to cover any lingering costs from a dry cleaner that previously occupied the property dating back to the early 60’s. We will provide the existing Phase 1 and Phase 2 reports. The Seller has owned the property since 1986 that is professionally managed by Fertig & Gordon. Priced at only $161 per square foot, this investment offers a truly great opportunity.

Exclusively Listed By

Financing By

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