$4,400,000
$4,950,000
11.1%For more information regarding the value of a property, please contact us for a free consultation.
1.22 Acres Lot
SOLD DATE : 12/15/2022
Key Details
Sold Price $4,400,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SW22196875
Sold Date 12/15/22
HOA Y/N No
Year Built 2002
Lot Size 1.220 Acres
Lot Dimensions Assessor
Property Description
Terrific opportunity to obtain a highly visible 18,876 multi-tenant Industrial building on a hard signalized corner in a great location across from Home Depot just off I-15 in the heart of Lake Elsinore. The building sits on 1.22 acres with 45 parking spaces and is fully leased to three tenants with Sherwin Williams as the anchor tenant on a new 10-year lease. Value add opportunity with two of the tenants paying under market rent. Currently being operated as an owner-user industrial/flex building with mostly office/showroom/retail and industrial warehouse uses.
Zoned CM-Commercial Manufacturing. See supplements for all permitted uses.
"The intent of the C-M district is to provide opportunities consistent with the General Plan for uses that combine commercial and industrial characteristics and for certain commercial uses which require large display or storage areas. Properties assigned this designation shall be located on streets that are categorized as secondary, major, or arterial highways in order to accommodate the intensity of use and increased truck traffic associated with the C-M district and, also, to ensure a high degree of visibility to benefit the commercial aspects of the businesses. In a like manner, C-M projects should demonstrate a higher quality of appearance befitting their more commercial nature than would a typical industrial project."
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Zoning CM
Interior
Fireplace No
Laundry None
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Total Parking Spaces 45
Building
Lot Description Corner Lot, Lot Over 40000 Sqft, Paved, Rectangular Lot, Street Level, Flat
Story 1
Water Public
Others
Tax ID 377120039
Acceptable Financing Cash, 1031 Exchange, Lease Back
Listing Terms Cash, 1031 Exchange, Lease Back
Financing Cash
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML
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