9305 Mission Gorge Road, Santee, CA 92071

Building Details

Tenancy Single More

Listing Agency: SURMOUNT

Listed By: Glen Kunofsky · License #NY 49KU1129178 Show Phone

Source: Crexi

Added: Oct 7 Changed: Nov 8 Last Checked: Nov 8 at 2:41PM

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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 SURMOUNT

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Investment Insights

Based on property information with market context.

The Walgreens drug store contains 10,968 rentable square feet on a 1.21-acre parcel in Santee, California. Its 25-year triple-net lease began June 27, 2009.

The property is located at 9305 Mission Gorge Road. The available property information identifies the tenant, building area, parcel size, and lease terms.

Key Highlights

• 10,968 rentable square feet of building area
• Situated on a 1.21‑acre parcel
• 25‑year NNN lease that began 6/27/2009

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$286,625

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,732,500 $5.7M

Cap Rate 7%

$4,094,643 $4.1M

Cap Rate 9%

$3,184,722 $3.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,968 SF

Gross rent

$398.8K $36.36/SF

− Vacancy

−$16.6K −$1.52/SF

EGI

$382.2K $34.84/SF

− OpEx

−$95.5K −$8.71/SF

NOI

$286.6K $26.13/SF

Area

San Diego County, CA

Vacancy

4.17%

Lease Rate

$36.36 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,732,500

Cap Rate 7%

$4,094,643

Cap Rate 9%

$3,184,722

Alternative Uses

Best Use

Specialty Retail

$4.09M

$3.58M – $4.78M (±1% cap)

NOI $286,625 @ 7.0% cap · market cap 2.99%

Second Best

Retail

$2.46M

$2.15M – $2.87M (±1% cap)

NOI $172,285 @ 7.0% cap · market cap 1.80%

Theoretical Best

Office A

$5.03M

$4.40M – $5.86M (±1% cap)

NOI $351,762 @ 7.0% cap · market cap 3.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Kelly Flanagan, PharmD Pharmacy Walgreens Photo (Bike/Boat/Book/etc) Store Helen Dong, PharmD Pharmacy Walgreens Pharmacy Redbox Cinema

Suggested Use

Top Pick Law Firm Parking Lot & Garage Building Supply Hotel & Motel (Bike/Boat/Book/etc) Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Similar Off Market Nearby

• Sharp Rees-Stealy Santee Pharmacy — 8701 Cuyamaca St Floor 1, Santee, CA 92071
• William Conroy — 9643 Mission Gorge Rd, Santee, CA 920713807
• Triet Vo — 9643 Mission Gorge Rd, Santee, CA 920713807
• CVS Target Santee — 9643 Mission Gorge Rd, Santee, CA 92071
• Le T. Nguen, PharmD — Plaza De Cuyamaca Shopping Center, 9759 Mission Gorge Rd, Santee, CA 92071

Frequently Asked Questions

What type of property is this?

Drug store - A Walgreens retail property is leased on a triple-net basis.

Where is this drug store located?

The property is located at 9305 Mission Gorge Road Santee, CA.

What is the asking price?

The asking price for this property is $9,583,000.

What are key features of this property?

This property features: 10,968 rentable square feet of building area; Situated on a 1.21‑acre parcel; 25‑year NNN lease that began 6/27/2009