This Investment Opportunity is located at 808-816 E. Main Street in the City of Alhambra, California and spans 1.81 Net Acres with a combined 18,000 square feet of improvements comprised of two (2) free standing retail buildings (12,000 S.F. and 6,000 S.F.) currently occupied by CVS Pharmacy, the largest pharmacy chain in the United States by locations, since 2003 and American Continental Bank (ACB), a regional bank with 8 locations in California, Washington, and Texas. The CVS portion is a Ground Lease Investment with a CVS Corporate Guaranty, with the remaining portion sold as a Fee Simple Investment comprised of 5,000 square feet occupied by ACB and a vacant 1,000 square feet. The existing NOI is $519,500.00 annually.
The City of Alhambra is located in the San Gabriel Valley and is a suburb of Los Angeles County with a population of 82,295. It is known as the “Gateway to the San Gabriel Valley”. Home to a diverse array of businesses, restaurants, neighborhoods, and residents. Known as one of the best places to live in California, many young professionals find comfort in Alhambra as it offers residents an urban suburban mix feel.
A 49-unit permitted residential complex is slated to break ground by mid 2025 across the street at 801 E. Main Street.