Investment Overview

Marcus & Millichap is pleased to offer for sale a ±3.18 acre parcel of land (APN #0238-152-02) located just southeast of the intersection of E. Francis Street and Milliken Avenue in the city of Ontario. This property is subject to an easement with Southern California Edison that is due to overhead high voltage transmission lines. There is a Verizon cell site on the subject parcel with a lease that started on April 1, 2024 which runs for 5 years. Verizon also has three 5-year extensions. The current income from this lease is $2,575 per month ($30,900 annually) with rent increases of 3% yearly. Zoning on this property is UC (Utilities Corridor) which was established to accommodate flood control channels, retention and detention basins, electrical transmission corridors and landfills. The UC zoning district is consistent with, and implements, the Open Space-Nonrecreational land use designation of the Policy Plan component of The Ontario Plan. The allowable and permitted uses for the subject site are primarily various agriculture uses, utilities and telecommunications uses.