Just Listed: Grocery Anchored Shopping Center | East County San Diego, CA

Investment Summary

PURCHASE PRICE

YEAR 1
CAP RATE

YEAR 1
NOI

BUILDING
SIZE

LAND
AREA

$20,557,000

6.93%

$1,425,358

±53,233 Sq. Ft.

±187,308 Sq. Ft.

PARKING

APN

YEAR BUILT/RENOV.

TRAFFIC COUNTS

~215 Spaces

489-162-17-00

1965/2014

37,300 CPD

Investment Highlights

Superior, National and Regional Credit Grocery Anchored Investment with Complementary Tenant Mix in the Infill Market of El Cajon (East County San Diego) CA. Located at the Intersection of Madison Ave. and 2nd St. with over 37,000 CPD

Pride of Ownership Grocery Anchored Shopping Center – El Cajon Town & Country is a 53,233 square foot shopping center, that includes Grocery Outlet, Dollar Tree, Goodwill, Chase, T-Mobile, and other national tenants. The synergistic tenant mix has solidified the center as being an essential service and daily needs shopping destination for the community.
Desirable Credit Tenancy - Over to 70% of the Gross Leasable Area (GLA) at El Cajon Town & Country is leased to strong national and regional tenants. The remaining spaces at the center are leased to highly popular users consisting of dining establishments, daily needs businesses and Country Wine and Spirits.
Top Performing Shopping Center – El Cajon Town & Country boasts over 1.2 million visitors per year to the center, and Dollar Tree ranks in the top 92% of visits amongst its 8,600 stores nationally (Source: Placer.ai).
Minimal Landlord Expenses or Capital Expenditure - All tenants are responsible for paying their full pro-rata share of common area maintenance (CAM) expenses, property taxes, insurance and management. This structure allows the landlord to pass through operating expenses to the tenants, ensuring a stable and predictable income stream. As a pride of ownership asset with professional management, there is minimal deferred maintenance.
Stabilized Investment - El Cajon Town & Country boasts a 99% occupancy rate. The almost entirely leased status of the property underscores the center’s desirability and stability as an investment.
Strong Historical Occupancy - The majority of the tenants have occupied the center for 10+ years providing a weighted average lease term from inception of 14.46 years.
Improving Returns - Most leases at the center include strong scheduled annual rent increases. These escalations help hedge against inflation and ensure that the investment continues to generate increasing returns over time.

Infill El Cajon (East County San Deigo) Retail Location with Strong Real Estate Fundamentals, Limited Vacancy and Growing Rental Rates

High Traffic Signalized Corner Location – El Cajon Town & Country is located directly south of I-8 Freeway 2nd St. exit at the major signalized intersection of Madison Ave. This prominent location benefits from combined traffic counts exceeding 37,000 cars per day, ensuring high visibility and accessibility.
Major Retail Corridor with Regional Draw - Situated within the core of El Cajon’s expansive commercial sector, El Cajon Town & Country is in close proximity to major retailers such as Walmart, Sprouts, Petco, and Walgreens. Furthermore, its location on 2nd St. makes it a strategic stop for visitors traveling to Spring Hills Golf Club and Sycuan Casino Resort, San Diego’s highest rated Casino.
Dense San Diego Submarket Demographics – The surrounding area boasts a dense population, with 146,837 residents within a three (3)-mile radius and an average household income exceeding $110,382.
High Barriers to Entry - El Cajon Town & Country is located within a densely populated infill trade area with limited land available for future development. This scarcity of available land and lack of current inventory for lease create high barriers to entry, protecting the center from new competition and ensuring its continued success.

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