1140 Main St Ramona, CA 92065

Ramona Plaza, a well-maintained Class C shopping center in Ramona, CA, presents a compelling investment opportunity. This 15,500 square foot, multi-tenant property boasts 97% occupancy (as of October 1, 2024) with 13 units spread across a two-story building on a 0.16-acre lot. Located at 1140 Main St, 92065, this prime location on Highway 67 benefits from high traffic volume. The property features 32 parking spaces and is zoned C36. Built in 1984 with ongoing renovations, including newer HVAC systems and a recently updated roof, Ramona Plaza offers a mix of retail and professional office tenants. The current owner is actively working on landscaping improvements. The property is offered fee simple with a net lease structure and allows for 1031 exchange. The asking price is $4,500,000, representing a 3.04% cap rate and a price per square foot of $290.32. The Net Operating Income (NOI) is $137,244. The potential for increased profitability exists through converting some month-to-month tenants into longer-term leases. This busy center, anchored by a restaurant and other professional offices, is ready for new ownership. The property's APN is 281-232-15-00. Rent bumps are included in the lease agreements.