8915-9312 Carlton Hills Blvd - Retail FOR SALE


Santee, CA 92071
$17,950,000 USD
858-875-4668
8915-9312 Carlton Hills Blvd, Santee, CA for Sale
$17,950,000 USD
Retail - FOR SALE
1/10
null | 6.25% Cap Rate

8915-9312 Carlton Hills Blvd
Santee, CA 92071


HIGHLIGHTS

  • 100% leased the past three years and 98%+ leased the previous five years.
  • Long-term, stable tenants with staggered lease expirations, providing a balanced rent roll.
  • Below market rents. Consistent NOI growth.
  • Diverse mix of daily-needs retailers and eateries, including Mary’s Donuts (40 years in Santee), Marieta’s Mexican, Daboba, The Chicken Shop and Kwi
  • GTM (Anchor) has been a fixture at the center since 1991 and has expanded twice.
  • Serves the growing and well-established Santee community with a population of 374,048 within a 15-minute drive.

OVERVIEW

Flocke & Avoyer Commercial Real Estate is proud to exclusively present this rare investment opportunity coming to market for the first time in 40 years, a rare seasoned San Diego retail investment opportunity. This 100% leased established multi-tenant retail center spans ±3.94 acres with ±43,351 SF of prime retail space. Strategically positioned at Mission Gorge Rd. (the primary east/west traffic corridor in Santee) and Carlton Hills Blvd. in Santee, CA, the property benefits from high visibility, strong traffic counts, and a thriving mix of daily-needs retailers and dining establishments. It has maintained 100% occupancy for the past 3 years, and before that was at or very close to that mark. Needless to say, it has exhibited its desirability in the marketplace for a variety of retail, restaurant and service users. Anchored by the regionally recognized GTM Store, a very busy value oriented retailer, started by 2 ex Costco executives (and itself a 35 year occupant of the property), the center attracts consistent traffic, due to its strategic and high visibility location at the hard corner of Mission Gorge Rd. and Carlton Hills Blvd. With Marieta’s Mexican Restaurant and the unusual successful Mary’s Donuts it is truly a staple for local shoppers. Carlton Hills Plaza also benefits greatly from its close proximity to key national and regional anchors as well as a growing consumer base, Carlton Hills Plaza represents a compelling, proven and reliable investment opportunity on one of San Diego County’s most vibrant retail corridors.

FOR SALE DETAILS

PRICE

$17,950,000 USD

PRICE/SF

$456 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carlton Hills Plaza

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Service Station, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

191

LAND DETAILS

LAND ACRES

4 AC

LAND SF

174,240 SF

ZONING

NC

APN/PARCEL ID

383-156-01,383-156-02,383-156-03,383-156-04,383-156-05

ASK ABOUT THIS PROPERTY

Bradley WilliamsFlocke & Avoyer Commercial Real EstateMore Info
858-875-4668

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Bradley WilliamsFlocke & Avoyer Commercial Real EstateMore Info
858-875-4668

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