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Shopping Neighborhood

Lakeview Plaza

31750, 31760, 31764 Casino Dr, Lake Elsinore, CA 92530

Listing Price: $8,286,750

Cap Rate
6.00%
Rentable SF
31,747
Lot Size
2.51 acres
Year Built
1990

Investment Overview

We are proud to exclusively present the opportunity to acquire Lakeview Plaza, a 3-tenant retail/of?ce building located in the City of Lake Elsinore, California. Built in 1990, the property sits on 2.51 acres and has a combined building size of approximately 31,747 square feet. The building is situated with approximately 500 feet of street frontage on Casino Drive. Lakeview Plaza has a strong location with freeway visibility on Interstate 15 and is located within one mile of the southeasterly shore of Lake Elsinore and several master plan residential communities including Summerly development that consists of approximately 1,979 dwelling units, several parks, recreation areas and an 18-hole golf course with a freeway pylon sign, covered walkways and approximately 110 parking spaces. The current tenants are long-term and have all signed leases that provide for annual rent increases. Upon the execution of the lease, the County of Riverside tenant improvements were in excess of $900,000. Rancho Physical Therapy tenant improvements include an indoor therapy pool and private treatment rooms. In 2019, the City of Lake Elsinore was recognized as the “3rd Best City to Live In” by the Best of the Inland Empire Press-Enterprise Readers’ Choice Awards. The City’s economic development policy centers on providing a broad range of infrastructure improvements to induce both tourism and business investments. Signi?cant attractions in the city’s Capital Improvement Plan for FY 2020-2021 to 2024-2025 include the Downtown Active Transportation and Urban Greening project, McVicker Skate Park and Launch Pointe, a recreation destination and RV Park.

Investment Highlights

  • Outstanding Location on Interstate 15 - High Freeway Visibility
  • 129,000 Average Daily Traffic Count on I-15 & 22,600 On Casino Drive
  • 100% Occupied with Long-Term Tenants
  • Annual Increases for All Tenants
  • Centrally Located Near All Southern California Metropolitan Areas
  • Current 6% Capitalization Rate
  • Lake Elsinore Population has Nearly Doubled Since 2000
  • Population over 116,000 Within a 5-Mile Radius with Annual Household Income in Excess of $92,000

Exclusively Listed By

Listing Price: $8,286,750

Cap Rate
6.00%
Rentable SF
31,747
Lot Size
2.51 acres
Year Built
1990

Investment Highlights

  • Outstanding Location on Interstate 15 - High Freeway Visibility
  • 129,000 Average Daily Traffic Count on I-15 & 22,600 On Casino Drive
  • 100% Occupied with Long-Term Tenants
  • Annual Increases for All Tenants
  • Centrally Located Near All Southern California Metropolitan Areas
  • Current 6% Capitalization Rate
  • Lake Elsinore Population has Nearly Doubled Since 2000
  • Population over 116,000 Within a 5-Mile Radius with Annual Household Income in Excess of $92,000

Investment Overview

We are proud to exclusively present the opportunity to acquire Lakeview Plaza, a 3-tenant retail/of?ce building located in the City of Lake Elsinore, California. Built in 1990, the property sits on 2.51 acres and has a combined building size of approximately 31,747 square feet. The building is situated with approximately 500 feet of street frontage on Casino Drive. Lakeview Plaza has a strong location with freeway visibility on Interstate 15 and is located within one mile of the southeasterly shore of Lake Elsinore and several master plan residential communities including Summerly development that consists of approximately 1,979 dwelling units, several parks, recreation areas and an 18-hole golf course with a freeway pylon sign, covered walkways and approximately 110 parking spaces. The current tenants are long-term and have all signed leases that provide for annual rent increases. Upon the execution of the lease, the County of Riverside tenant improvements were in excess of $900,000. Rancho Physical Therapy tenant improvements include an indoor therapy pool and private treatment rooms. In 2019, the City of Lake Elsinore was recognized as the “3rd Best City to Live In” by the Best of the Inland Empire Press-Enterprise Readers’ Choice Awards. The City’s economic development policy centers on providing a broad range of infrastructure improvements to induce both tourism and business investments. Signi?cant attractions in the city’s Capital Improvement Plan for FY 2020-2021 to 2024-2025 include the Downtown Active Transportation and Urban Greening project, McVicker Skate Park and Launch Pointe, a recreation destination and RV Park.

Exclusively Listed By

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