Grocery Anchored Center | San Diego MSA
59,736 SF | 95% Leased | Retail Building | Lakeside, CA 92040 | $19,800,000 ($331/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $19,800,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 59,736 SF
- Price / Square Foot
- $331
Listing Contacts
Pat Kent
Verified Profile
Parker Walter
Verified Profile
- Property Info
Property Overview
SRS Capital Markets is pleased to offer the opportunity to acquire the Central Lakeside Shopping Center, a 59,736 SF grocery-anchored investment property located in Lakeside, California. This shopping center is 95% occupied and boasts a diverse lineup of strong corporate tenants, including Grocery Outlet, Walgreens, O’Reilly Auto Parts, Starbucks, Jersey Mike’s, and KFC. The anchor tenant, Grocery Outlet, has recently signed a new 10-year lease with four 5-year options to extend, demonstrating their long-term commitment to the site. Additionally, EVgo has secured a brand new 10-year lease for an electric vehicle charging station, providing an additional and stable income stream. The KFC on-site operates from a freestanding building with drive-through access. Starbucks with drive-through access, and other 3 tenants also occupies a separate building on its own parcel. The offering has a potential break-up opportunity to maximize the property’s value.
Property Details
- Class
- B
- Year Built/Renovated
- 1978/2009
- Stories
- 1
- Property Subtype
- Freestanding, Drug Store
- Lot Size (sq. ft)
- 262,667 SF
Highlights
- Grocery Anchored | Strong Corporate Tenants Outparcel Pad with Drive-Through | New Charging Station
- Strong Tenant Credit | Below Market Rents
- Hard-Corner Intersection | Quick Access to State Hwy 67
- Premier Southern California Retail Opportunity | Six-Figure Incomes | Strong Demographics in 5-Mile Trade Area
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