Santee Retail Investment
For Sale
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8915-8967 Carlton Hills Blvd, Santee, CA 92071
Multi-tenant retail plaza with high occupancy and strong NOI growth.
Property Size43,351 SF
Price / SF$401.70
Days on Market230
Property Features for 8915-8967 Carlton Hills Blvd
General Information
Standard status
Active
Size
43,351 SF
Total Parking Spaces
191
Property subtype
Retail
Zoning
NC - Neighborhood Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1986
Year Renovated
2012
Buildings
3
Stories
1
Units
14
Tenancy
Multi
Listing Agency:
CBRE - San Diego
Listed By:
Reg Kobzi · License #CA 00917639
(858) 546-4604
Source:
Crexi
Added: Feb 18
Changed: Oct 4
Last Checked: Oct 5 at 4:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - San Diego
Investment Insights
Based on property information with market context.
Carlton Hills Plaza is a 43,351 square foot multi-tenant retail property located at 8915-8967 Carlton Hills Blvd & 9312 Mission Gorge Road in Santee, CA. This neighborhood shopping center presents an opportunity to acquire an income-producing asset within the Santee community. The property benefits from its location at the intersection of Carlton Hills Boulevard and Mission Gorge Road, near a retail corridor with national retailers such as Kohl’s, Lowe’s, Walmart, In-N-Out, and Costco. The center features a diverse tenant mix, including GTM Discount Stores (since 1991) and retailers and eateries like Mary’s Donuts, Marieta’s Mexican, Daboba, and The Chicken Shop. The plaza has maintained 100% occupancy for the past three years and over 98% for the preceding five years, demonstrating consistent performance and strong NOI growth.
Key Highlights
- High‑traffic location at the intersection of Carlton Hills Boulevard and Mission Gorge Road.
- Stable, income‑producing asset with strong NOI growth.
- Enjoy 100% occupancy for the past three years and over 98% for the preceding five years.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$680,958
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,619,160
$13.6M
Cap Rate 7%
$9,727,971
$9.7M
Cap Rate 9%
$7,566,200
$7.6M
Market Conditions
NOI Build-Up for 43,351 SF
Gross rent
$1.04M $24.00/SF
− Vacancy
−$67.6K −$1.56/SF
EGI
$972.8K $22.44/SF
− OpEx
−$291.8K −$6.73/SF
NOI
$681.0K $15.71/SF
Area
San Diego County, CA
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,619,160
Cap Rate 7%
$9,727,971
Cap Rate 9%
$7,566,200
Alternative Uses
Best Use
Retail
$9.73M
$8.51M – $11.35M
NOI $680,958 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.86M
$17.38M – $23.17M
NOI $1,390,339 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
98k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 28%
Shops & Services 22%
Beauty & Spa 2%
Sprouts Farmers Market
Groceries
27,104 visits/mo
0.2 miles
Starbucks
Dining
24,604 visits/mo
0.1 miles
Jack in the Box
Dining
18,756 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,860 visits/mo
0.2 miles
Cox Communications
Shops & Services
4,771 visits/mo
0.2 miles
Demographics for 92071, CA
60,163
Population
21,732
Households
2.8
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
18.8 sq mi
ZIP Area
3,200
Density / Sq Mi
$105,603
Median Household Income
$57,045
Median Earnings
$2,202
Median Rent
$654,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
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- Coinstar Kiosk - Bitcoin ATM — 9643 Mission Gorge Rd Safeway, Santee, CA 92071
- Carlton Hills Plaza — 8912-8967 Carlton Hills Blvd, Santee, CA 92071, United States
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail plaza with high occupancy and strong NOI growth.
Where is this shopping center located?
The property is located at 8915-8967 Carlton Hills Blvd Santee, CA.
What is the asking price?
The asking price for this property is $17,414,000.
What are key features of this property?
This property features: High‑traffic location at the intersection of Carlton Hills Boulevard and Mission Gorge Road.; Stable, income‑producing asset with strong NOI growth.; Enjoy **100% occupancy for the past three years** and over 98% for the preceding five years.
