408 Pico AveFallbrook, CA 92028

Property Details for 408 Pico Ave

Year built

1953

Lot size

0.15 AC

Property size (Sq ft)

1,440 SF

Zone code

RESTRICTED COMMERCIAL

Property type

Retail properties

Property subtype

Retail space

APN

103-131-04-00

APU

1031310400

Description

This exceptional Fallbrook investment opportunity encompasses three contiguous lots totaling 10,653 square feet (approximately 0.34 acres) and is zoned for both commercial and residential use. The property boasts high street visibility at the north end of town, conveniently located within walking distance of Fallbrook's Village, theatre, restaurants, and shops. The property currently features two buildings: a vacant 640-square-foot office building equipped with a hard-wired sprinkler system and security cameras, and a duplex. The office building is currently partially available for lease at $1,900 per month, with potential for $3,500 per month with minor improvements. The duplex comprises two units, approximately 400 square feet each, currently rented month-to-month to long-term tenants at $1,250 and $1,028.50 per month respectively. The seller indicates that rental income could be significantly increased. The property's previous use as a successful used car lot suggests diverse potential applications. This property is well-suited for a cash buyer, a buyer seeking to refinance, or a 1031 exchange. Detailed expense information is available upon request to qualified buyers. All information provided is per seller

• CAP approach

  CAP return

  Valuation

  6%

  $473,397

  6.5%

  $436,982

  7%

  $405,769

• Comparable approach

  Method

  Valuation

  Relative Method

  $598,377

  Geo Method

  $1,277,229

• Alternative Use

  Use

  Valuation

  Residential

  $368,611

  Hospitality

  $337,646

  Educational

  $280,917

  Medical

  $290,578

  Retail

  $436,982

Location Insight

City

Fallbrook

County

San Diego

State

California

Latitude

33.3849

Longitude

-117.253

CBSA code

41740

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].