1068 BroadwayEl Cajon, CA 92021

Property Details for 1068 Broadway

Year built

1985

Lot size

0.89 AC

Property size (Sq ft)

15,632 SF

Zone code

COMMERCIAL

Property type

Medical offices

Property subtype

Medical centers

APN

484-293-34-00

APU

4842933400

Description

This exceptional investment opportunity presents a 15,632-square-foot medical office building in El Cajon, CA, currently occupied by CRT Plasma under a 15-year absolute triple-net (NNN) lease. The lease features a 6.95% cap rate and a substantial 2.5% annual rent increase. Four 5-year renewal options provide long-term stability. The property boasts a 100% occupancy rate and a strong NOI of $468,960. Situated on a 0.89-acre lot, the building was constructed in 1984 and enjoys a prime location on Broadway, a major thoroughfare with over 24,700 vehicles daily. The area offers excellent visibility and accessibility, with proximity to Interstate 8 (148,000 VPD) and CA-67 (100,000 VPD). The surrounding area is densely populated, with over 308,000 residents within a five-mile radius and an average household income exceeding $124,210. Major retailers such as Target, Home Depot, and Best Buy are nearby, along with Parkway Plaza, a regional shopping center. The low submarket vacancy rate of 3% (according to CoStar) further underscores the desirability of this location. The tenant, CRT Plasma, is a well-established medical practice led by a Johns Hopkins-trained specialist, ensuring a stable and reliable income stream. This sale-leaseback opportunity offers a compelling combination of strong financial performance, long-term lease security, and a desirable location within the San Diego MSA. The asking price is $6,750,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,472,960

  6.5%

  $3,205,810

  7%

  $2,976,823

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,572,728

  Geo Method

  $5,501,995

• Alternative Use

  Use

  Valuation

  Residential

  $3,975,204

  Hospitality

  $3,641,266

  Educational

  $3,029,490

  Medical

  $3,133,679

  Retail

  $4,712,540

Location Insight

City

El Cajon

County

San Diego

State

California

Latitude

32.8081

Longitude

-116.946

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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