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301 Yale AVE Claremont, CA 91711
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Key Details
Sold Price $4,425,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 8,924 sqft
Price per Sqft $495
MLS Listing ID OC19259188
Sold Date 01/14/20
HOA Y/N No
Year Built 1995
Annual Tax Amount $15,149
Tax Year 2019
Lot Size 0.365 Acres
Acres 0.3647
Property Sub-Type Retail
Property Description
The Shoppes at Yale is a rare opportunity to acquire a prominent value-add retail center in the City of Claremont. Claremont is also known as the 'Harvard of the West'. The property is being sold by the original developer and is on the market for the first time ever. The asset is comprised of seven retail tenants: Birkenstock, Persipolis, 4 C's Finecraft Jewelers, Tattle Tails, Tocaja, Del Anno, and Menkoi Ya Ramen. This 7-Tenant shopping center has below market rents at $2.04 per square foot and short term tenancy. The property has 8 open parking spots on site, along with ample city owned street parking in front of the stores.
The retail center has a strong walkability score of 78 with traffic counts over 22,862 car per day. Surrounding residential neighborhoods include Bonita Terrace Apartments, Claremont Village, and Courier Place Apartments. It is also walking distance to the seven highly prestigious Claremont Colleges.
Location
State CA
County Los Angeles
Area 683 - Claremont
Interior
Heating Central
Cooling Central Air
Laundry None
Exterior
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Building
Lot Description 6-10 Units/Acre
Water Public
Others
Acceptable Financing None
Listing Terms None
Financing None
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.0
TERMS Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE None
SHOW INSTRUCTIONS Drive By Only.Do Not Disturb Tenants. Inspection Upon Signed Contract.
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Bought with Stone-Miller