Office Vacant-User

Pomona Mission Promenade

255 W Mission Blvd, Pomona, CA 91766

Listing Price: $3,475,000

Cap Rate
5.94%
Gross SF
25,000
Rentable SF
25,000
Price/Gross SF
$139.00
Lot Size
1.29 acres
Year Built
1974

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present the Pomona Mission Promenade, a 25,000 square foot office building located in the downtown civic area of Pomona, California. Pomona is a city in Los Angeles County located between the Inland Empire and the San Gabriel Valley. The city’s population is approximately 150,000 residents and consists of nearly 23 square miles. Pomona is approximately 30 miles east of downtown Los Angeles. The city is bordered by the cities of San Dimas to the northwest, La Verne and Claremont to the north, Montclair and Chino to the east, Chino Hills and Diamond Bar to the south, and Walnut and Industry to the southwest. The Los Angeles/San Bernardino county line forms most of the city’s southern and eastern boundaries. The top employers consist of the Pomona Valley Hospital Medical Center, the Pomona Unified School District, California State Polytechnic University, Pomona, the Fairplex and the County of Los Angeles. Cal Poly Pomona has over 24,000 students and covers an area of over 1,437 acres. The university is known for its agricultural, hospitality, engineering and architectural programs. Western University of Health Sciences is one of the largest health sciences universities in California. The city is the is site of the Fairplex, which hosts the L.A. County Fair and the Pomona Swap Meet & Classic Car Show. The swap meet, for car parts and accessories, is part of the car show, which is held seven times throughout the year. The city is also home to the NHRA Auto Club Raceway at Pomona which hosts the Winter nationals drag racing competition. The Downtown Pomona civic area includes many government/civic offices. Both the Pomona City Hall and Police Department are located directly across the street from the subject property. The downtown area also features various arts, cultural, museum, retail and nightlife establishments. The Pomona Arts Colony is a historic neighborhood dedicated to the creative arts, creative commerce, education, and urban living. This value-added asset will give the new ownership the opportunity to reposition and/or occupy the property. The Pomona Mission Promenade would be an ideal owner/user opportunity. An owner/user may be able to obtain very favorable Small Business Administration (SBA) financing and take advantage of today’s historically low interest rates. Effectively, it may be more economical to own the building rather than to lease space elsewhere considering today’s low interest rates and the potential tax advantages of real estate ownership including depreciation and property expense write-offs. The effective “rent” of ownership, meaning the mortgage payment per square foot is only $0.63/sqft/FSG in comparison to market lease rats of $1.00-1.45/sqft/FSG. Given this, it is more economical to own rather than lease elsewhere.

Investment Highlights

  • Ideal Owner/User Opportunity
  • Below Replacement Cost at $139/Sq.Ft.
  • High Identity Street Frontage & Signage
  • Historically Low SBA Financing - 3.5% Interest; 10% Down Payment
  • Effective "Rent" of Ownership (Mortgage Payment Per Sq.Ft.) Only $0.63/SqFt/FSG Market Lease Rates are $1.00-1.45/Sq.Ft./FSG
  • More Economical to Own than to Lease Elsewhere

Exclusively Listed By

Office Vacant-User

Pomona Mission Promenade

Listing Price: $3,475,000

Cap Rate
5.94%
Gross SF
25,000
Rentable SF
25,000
Price/Gross SF
$139.00
Lot Size
1.29 acres
Year Built
1974

Investment Highlights

  • Ideal Owner/User Opportunity
  • Below Replacement Cost at $139/Sq.Ft.
  • High Identity Street Frontage & Signage
  • Historically Low SBA Financing - 3.5% Interest; 10% Down Payment
  • Effective "Rent" of Ownership (Mortgage Payment Per Sq.Ft.) Only $0.63/SqFt/FSG Market Lease Rates are $1.00-1.45/Sq.Ft./FSG
  • More Economical to Own than to Lease Elsewhere

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present the Pomona Mission Promenade, a 25,000 square foot office building located in the downtown civic area of Pomona, California. Pomona is a city in Los Angeles County located between the Inland Empire and the San Gabriel Valley. The city’s population is approximately 150,000 residents and consists of nearly 23 square miles. Pomona is approximately 30 miles east of downtown Los Angeles. The city is bordered by the cities of San Dimas to the northwest, La Verne and Claremont to the north, Montclair and Chino to the east, Chino Hills and Diamond Bar to the south, and Walnut and Industry to the southwest. The Los Angeles/San Bernardino county line forms most of the city’s southern and eastern boundaries. The top employers consist of the Pomona Valley Hospital Medical Center, the Pomona Unified School District, California State Polytechnic University, Pomona, the Fairplex and the County of Los Angeles. Cal Poly Pomona has over 24,000 students and covers an area of over 1,437 acres. The university is known for its agricultural, hospitality, engineering and architectural programs. Western University of Health Sciences is one of the largest health sciences universities in California. The city is the is site of the Fairplex, which hosts the L.A. County Fair and the Pomona Swap Meet & Classic Car Show. The swap meet, for car parts and accessories, is part of the car show, which is held seven times throughout the year. The city is also home to the NHRA Auto Club Raceway at Pomona which hosts the Winter nationals drag racing competition. The Downtown Pomona civic area includes many government/civic offices. Both the Pomona City Hall and Police Department are located directly across the street from the subject property. The downtown area also features various arts, cultural, museum, retail and nightlife establishments. The Pomona Arts Colony is a historic neighborhood dedicated to the creative arts, creative commerce, education, and urban living. This value-added asset will give the new ownership the opportunity to reposition and/or occupy the property. The Pomona Mission Promenade would be an ideal owner/user opportunity. An owner/user may be able to obtain very favorable Small Business Administration (SBA) financing and take advantage of today’s historically low interest rates. Effectively, it may be more economical to own the building rather than to lease space elsewhere considering today’s low interest rates and the potential tax advantages of real estate ownership including depreciation and property expense write-offs. The effective “rent” of ownership, meaning the mortgage payment per square foot is only $0.63/sqft/FSG in comparison to market lease rats of $1.00-1.45/sqft/FSG. Given this, it is more economical to own rather than lease elsewhere.

Exclusively Listed By

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