Vacant Retail Opportunity - Covina, CA

710 Arrow HWY
Covina , CA 91722

Vacant Retail Opportunity - Covina, CA - Retail for sale

Overview


Jones Lang LaSalle (JLL) is pleased to offer for sale the fee simple interest in a freestanding retail building (the Property or Asset) located in Covina, California, part of the greater Los Angeles MSA. The 18,990 square-foot Property benefits from an outparcel position to the Kimco-owned Covina Town Square, as well as terrific frontage along highly-trafficked Arrow Highway. The dense surrounding retail market includes tenants such as Walmart, Lowes, Aldi, El Super, Harbor Freight, Fallas, AMC, Planet Fitness, and many others. This is outstanding opportunity to reposition or occupy a rare outparcel asset within a dense and mature retail corridor of metro Los Angeles.

Investment Highlights


Rare Outparcel Location
The Asset is an outparcel to Covina Town Square, a Kimco-owned regional shopping center containing over 278,562 square feet of retail, restaurant, and entertainment. Covina Town Square is bordered by both Arrow Highway and Azusa Avenue, and contains over 2,100 parking spaces.

Desirable and Dynamic Submarket
Covina is a densely populated suburban city in the San Gabriel Valley region of greater Los Angeles. There are over 400,000 residents within 5 miles of the Asset, with average household incomes topping $87,000 within the same radius. The city benefits from easy access to downtown Los Angeles via the MetroLink train stopping at Covina Station. Covina is also conveniently located in the midst of Interstate 210 (Foothill Freeway), Interstate 10 (San Bernardino Freeway), Interstate 605 (San Gabriel River Freeway), and State Route 57 (Orange Freeway).

Value-Add Flexibility
The asset is a 18,990 square-foot building with ample parking, a fully internal drive-thru, and a raised rear loading dock, perfect for a wide variety of automotive-centric tenants to immediately occupy. Additionally, the 1.33 acre parcel size and outparcel location create significant potential for repositioning as a single or multi-tenant retail or restaurant use.
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 710 Arrow HWY, Covina, CA 91722
Land In Acres 1.33
Building Size 18,990  ft2
Financial
Price $2,500,000
Cap Rate %
Lease

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