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Shopping Strip

Garey Olive Shopping Center

2218 S Garey Ave, Pomona, CA 91766

Listing Price: $11,970,000

Cap Rate
6.28%
Gross SF
34,497
Rentable SF
34,497
Price/Gross SF
$346.99
Lot Size
2.41 acres
Year Built
1968

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee-simple interest in GAREY / OLIVE located at 2218-2298 South Garey Avenue in Pomona, California. GAREY / OLIVE is a 34,497± square-foot retail center located in the city of Pomona in Los Angeles County. Built in 1968 and sitting on four contiguous parcels totaling 2.41 acres on a signalized-corner lot, GAREY / OLIVE is a classic strip center with twenty-four units. Tenants are on triple-net or modified gross leases and have strong tenure at the property, with 50 percent of tenants having been there for 10+ years. GAREY / OLIVE is centrally located within a heavily-trafficked retail corridor and within a five-minute driving distance from other major retailers such as Target, Walmart, WinCo Foods, Costco Wholesale, Planet Fitness, In-N-Out and The Home Depot. This is an opportunity for an investor to acquire a stabilized asset with tenure tenants and historically low vacancy within a growing demographic population with a median household income of $66,807 within a one-mile radius and $95,351 within a three-mile radius.

Investment Highlights

  • Signalized Corner Location - Strategically located at the confluence of the 57, 10, 60 and 71 Freeway, with traffic counts in excess of 26,300± vehicles traveling north/south on Garey Avenue
  • High Visibility - Over 630 feet of frontage along Garey Avenue, a major arterial street, with one monument sign and one pylon sign provide additional street presence and visibility
  • Parking and Multiple Ingress/Egress - 126 total parking spaces (park ratio 3.65) and three (3) ingress and egress points provide easy accessibility
  • Below-Market Rents - Current monthly rents average $2.02 per square foot, with scheduled increases and rolling rents
  • Major Retail Neighbors - Target, Walmart, WinCo Foods, Costco Wholesale, Planet Fitness, In-N-Out, Starbucks, Bank of America, Arco, The Home Depot, Cardenas Market, Rite Aid etc
  • Location Attributes - Within 3-miles from Fairplex Pomona, Downtown Pomona, Cal Poly Pomona University and Pomona College

Exclusively Listed By

Shopping Strip

Garey Olive Shopping Center

Listing Price: $11,970,000

Cap Rate
6.28%
Gross SF
34,497
Rentable SF
34,497
Price/Gross SF
$346.99
Lot Size
2.41 acres
Year Built
1968

Investment Highlights

  • Signalized Corner Location - Strategically located at the confluence of the 57, 10, 60 and 71 Freeway, with traffic counts in excess of 26,300± vehicles traveling north/south on Garey Avenue
  • High Visibility - Over 630 feet of frontage along Garey Avenue, a major arterial street, with one monument sign and one pylon sign provide additional street presence and visibility
  • Parking and Multiple Ingress/Egress - 126 total parking spaces (park ratio 3.65) and three (3) ingress and egress points provide easy accessibility
  • Below-Market Rents - Current monthly rents average $2.02 per square foot, with scheduled increases and rolling rents
  • Major Retail Neighbors - Target, Walmart, WinCo Foods, Costco Wholesale, Planet Fitness, In-N-Out, Starbucks, Bank of America, Arco, The Home Depot, Cardenas Market, Rite Aid etc
  • Location Attributes - Within 3-miles from Fairplex Pomona, Downtown Pomona, Cal Poly Pomona University and Pomona College

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee-simple interest in GAREY / OLIVE located at 2218-2298 South Garey Avenue in Pomona, California. GAREY / OLIVE is a 34,497± square-foot retail center located in the city of Pomona in Los Angeles County. Built in 1968 and sitting on four contiguous parcels totaling 2.41 acres on a signalized-corner lot, GAREY / OLIVE is a classic strip center with twenty-four units. Tenants are on triple-net or modified gross leases and have strong tenure at the property, with 50 percent of tenants having been there for 10+ years. GAREY / OLIVE is centrally located within a heavily-trafficked retail corridor and within a five-minute driving distance from other major retailers such as Target, Walmart, WinCo Foods, Costco Wholesale, Planet Fitness, In-N-Out and The Home Depot. This is an opportunity for an investor to acquire a stabilized asset with tenure tenants and historically low vacancy within a growing demographic population with a median household income of $66,807 within a one-mile radius and $95,351 within a three-mile radius.

Exclusively Listed By

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