1522 Graves AveEl Cajon, CA 92021

Property Details for 1522 Graves Ave

Lot size

0.16 AC

Zone code

COMMERCIAL

Property type

Retail properties

Property subtype

Retail space

APN

387-131-16-00

APU

3871311600

Description

This exceptional investment opportunity presents a 100% occupied, multi-tenant retail center anchored by a 7-Eleven with a four-pump gas station, operating since 1976 under a triple-net lease. The property, located at 1522 Graves Avenue in El Cajon, CA 92021, boasts approximately 2,400 square feet for the 7-Eleven and an additional approximately 2,429 square feet of strip center space. A respected Sombreros Mexican Restaurant, with 16 locations across San Diego County and a nearly 30-year tenancy, is also a key tenant. The property also includes a 3,267 square foot, two-story office building. The site benefits from a prime location with high visibility from State Route 67 and the busy Bradley Avenue on/off ramp, situated at a signalized intersection with high traffic flow. The property's Net Operating Income (NOI) is $172,434, resulting in a 4.01% cap rate. The asking price is $4,300,000. The property offers potential for future development, including conversion of the office building to residential units or redevelopment into a Quick Service Restaurant (QSR) with a drive-thru. APN: 387-131-16-00

• CAP approach

  CAP return

  Valuation

  6%

  $2,235,737

  6.5%

  $2,063,757

  7%

  $1,916,346

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,839,300

  Geo Method

  $6,072,158

• Alternative Use

  Use

  Valuation

  Residential

  $1,740,856

  Hospitality

  $1,594,615

  Educational

  $1,326,701

  Medical

  $1,372,328

  Retail

  $2,063,757

Location Insight

City

El Cajon

County

San Diego

State

California

Latitude

32.8195

Longitude

-116.959

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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