8157-8159 W Wing Ave - Manufacturing FOR SALE


El Cajon, CA 92020
$5,400,000 USD
858-373-3176
8157-8159 W Wing Ave, El Cajon, CA for Sale
$5,400,000 USD
Manufacturing - FOR SALE
1/13
null | 8.07% Cap Rate

8157-8159 W Wing Ave
El Cajon, CA 92020


HIGHLIGHTS

  • 15,000 SF Industrial Building in San Diego County
  • 8.07% Current Cap Rate
  • Tenant To Sign New 10-Year Lease at Current Rent
  • Absolute Net Lease
  • Adjacent to Gillespie Field Airport
  • Located Off 52 and 67 Highways

OVERVIEW

Marcus & Millichap is pleased to present 8157-8159 W Wing Avenue in El Cajon, California. This 15,000-square-foot property is an industrial warehouse and distribution building, currently leased in full to Outco. Outco is a fully licensed, legally operating marijuana dispensary that also grows, cultivates, and conducts lab work for product development. Outco has been a tenant since 2014, initially occupying half of the building and expanding to the entire space in 2017. The significant build-out completed by the tenant allows the property to command above-market rental rates within the submarket. Outco is currently on a month-to-month lease, with a draft 10-year extension under preliminary review. This extension would maintain the current rental rate through 2025, followed by 3% annual increases thereafter. Strategically located with convenient access to Highways 52 and 67, the property features six roll-up doors to accommodate a range of industrial uses. Additionally, it is adjacent to Gillespie Field Airport, which plans to add new hangars across W Wing Avenue. This proximity to the airport positions the property favorably for future growth and potential expansion within the area.

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$360 USD /SF

CAP RATE

8.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

UTILITIES

-

CLEAR CEILING HT

18 Ft

DOCKS

-

DRIVE INS

6

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.55

LAND SF

23,958

ZONING

M-54

APN/PARCEL ID

387-150-21

ASK ABOUT THIS PROPERTY

Ben TashakorianMarcus & MillichapMore Info
858-373-3176

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Ben TashakorianMarcus & MillichapMore Info
858-373-3176

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.