635-675 Front St Industriel/Logistique 2 330 m² 100 % Loué À vendre El Cajon, CA 92020 5 849 428 € (2 509,97 €/m²) Taux de capitalisation 6 %

100% NNN LEASED FREEWAY FRONTING MULTI-TENANT INDUSTRIAL BUILDING | EL CAJON, CA (San Diego County)
* A 25,086 SF multi-tenant industrial building that is divided into 5 units that average 4,640 SF with minimal office buildout. The tenant mix and overall suite sizes provide stability, diversification, and flexibility. With El Cajon’s industrial vacancy at 1.43% these tenants have very few, if any, alternative locations to move to.
* At 100% leased, this property is priced to an attractive 6.0% cap rate and with attractive upside at a 7.04% year-4 cap rate (in-place rents are 12% below market).
* Exceptionally well maintained with over $200K in recent upgrades to the parking lot, roof, exterior and suite renovations. This eliminates near-term capital expenditures for new ownership and have helped keep the project well stabilized.

EXCELLENT MARKET FUNDAMENTALS THAT SUPPORT UPSIDE
* Companies flock to East County because one-fifth of the population is employed in a mix of manufacturing/warehouse/ construction jobs.
* El Cajon has some of the lowest industrial vacancy rates in all of Southern California with a current overall industrial vacancy rate for buildings under 50,000 SF of 1.43% with a 10-year average of 1.53% over its 9.4M SF industrial base. Furthermore, East County has the tightest industrial market in all of San Diego County.
* El Cajon’s Industrial rents have increased 27.1% over the last 3 years and with only one building under construction, there is significant runway for future rent growth.

AMENITY-RICH LOCATION IN EAST COUNTY SAN DIEGO
* Excellent access (less than 2 miles) to EL Cajon’s largest mall Parkway Plaza. Sample tenants include: Walmart, Best Buy, Marshalls, Applebee’s, Dick sporting goods, JC Penny, Macy’s, McDonald’s, Panda Express, Regal Cinema, Rubio’s, Starbucks, and Subway. Other surrounding retail amenities include KFC, Carl’s Junior, Burger King, CVS, Bank of America, Navy Federal Credit Union, and Wells Fargo to name a few.

* The average home value has increased 23.7% over the last year to an average home value of $833,263 in El Cajon.