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1045 Parkford Drive, Redlands, CA 92374

Commercial property · 2 recorded sales since 2022

1045 Parkford Drive, Redlands, CA 92374 Sold January 2023 CRMLS
$9,897,440Sold January 2023

Listing Agent: BRAD FREEMAN (DRE #01329426) · Listing Office: FREEMAN & ASSOCIATES · Contact: 877-300-4289 · Bought with: BRAD FREEMAN · FREEMAN & ASSOCIATES · MLS #EV22179524 · Source: CRMLS

14,728
Building Sq Ft
4
Units
5.00%
Cap Rate
$494,872
NOI
118,951 sqft
Lot Size
2019
Year Built
C4
Zoning
Commercial property
Type

About this commercial property

This property sits along a busy corridor of the Interstate 10 with a 110’ tall Pylon dedicated to this property, located at the entrance to South Redlands. This is the first exit in Redlands coming from the east. This offering consists of three national credit tenants, including Starbucks, Dominos, and The Learning Experience, and also includes Sev Laser which is a small regional tenant. All tenants are on NNN leases, who are all likely to renew at options, while also well-suited for backfill that can produce increase in rents. The zoning is C4 which allows for medical use, and the parking ratio is above 5/1,000 which is very difficult to find in the City of Redlands. Shadow Anchored by a free-standing state-of-the-art LA Fitness with a renewed lease at this seasoned location, known to be one of the most popular fitness clubs in the Inland Empire Region. At the time of the renewal there were significant tenant improvements, including exterior paint, and a parking lot and lighting updates

Listing description from the January 2023 sale, as reported to CRMLS.

Sale history

$9,897,440
Sold January 2023 · orig. $11,500,000, on market August 2022 · MLS #EV22179524 · Source: CRMLS
Listing Agent: BRAD FREEMAN · Listing Office: FREEMAN & ASSOCIATES · Contact: 877-300-4289 · Bought with: BRAD FREEMAN · FREEMAN & ASSOCIATES
$2,500,000
Sold August 2022 · listed $3,789,868, on market March 2022 · MLS #EV22052189 · Source: CRMLS
Listing Agent: REGINA PARKER · Listing Office: KELLER WILLIAMS REALTY · Contact: 909-793-2100 · Bought with: BRAD FREEMAN · FREEMAN & ASSOCIATES
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