FOR SALE: Fully Leased Small SoCal Industrial Investment
WestMar Commercial Real Estate is proud to present this rare “auto uses approved” industrial building in the City of Murrieta. This high occupancy two tenant property is currently divided, and occupied, by two very strong tenants. They both have continuing options to extend out to 2027 and 2034 respectively. Both leases have 3-5% annual base rent increases and, one of which, also includes operating expenses reimbursement. This makes for rapid CAP rate increases from the initial 4.5%.
It should also be noted that although the property is currently demised, it would be very easy to turn the building back into a single tenant offering and partitioning off a secure yard at the rear of the building.
Sandalwood Circle is conveniently located between the French Valley and the Winchester Road on/off-ramps from the I-15. The Cities of Murrieta and Temecula both appear to be continuing to restrict land use approved for automotive purposes thereby making the future desirability of this property ever increasing.
Visit Property Website: https://westmarcre.com/archives/listing/sandalwood-circle