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    997 Broadway El Cajon, CA 92021

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    For Sale
    Contact for pricing

    Three-Tenant Retail Building, High NOI

    Property size:
    3,880 SF

    Property Features for 997 Broadway

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,880 SF
    Lot Size
    14,810 SF

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    1
    Units
    3

    We can help!

    Listing Contact
    Michael Glickstein

    Listing Agency: Pacific Coast Commercial Listing Agent: Michael Glickstein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional value-add retail investment property, located at 997 Broadway in El Cajon, California (92021), offers a compelling opportunity. The 3,880 square foot building sits on a sizable 0.34-acre lot (100' frontage x 150' deep), providing ample front and rear parking. Currently boasting 100% occupancy with three tenants, the property generates a strong net operating income (NOI) of $54,440, resulting in a 4.00% cap rate. The asking price is $1,350,000, translating to $347.94 per square foot. Built in 1979, this single-story building features three units: Unit A (1,000 sq ft with bathroom), Unit B (1,000 sq ft with bathroom), and Unit C (1,880 sq ft with bathroom). Convenient grade-level access is provided by two single and one double grade-level doors. The property's prominent Broadway location offers excellent signage opportunities. This is a rare chance to acquire a well-located, multi-tenant retail building with significant upside potential in a thriving San Diego County market. The property's features include great signage, ample parking, and convenient access. The APN is 484-294-26. The lease type is gross.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Audio Shack Electronics & Wireless Store Montana Capital Bad ... Loan Service Pooch Bar Pet Grooming Service

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    El Cajon
    County
    San Diego
    State
    California
    Longitude
    -116.9482172
    Latitude
    32.8073003

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    FAQs

    What type of property is this?
    Individual retail property - Three-Tenant Retail Building, High NOI
    Where is this individual retail property located?
    The property is located at 997 Broadway El Cajon, CA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Exceptional value-add retail investment opportunity in El Cajon, CA.; 3,880 SF building on a 0.34-acre lot with ample parking.; 100% occupancy with three tenants generating $54,440 NOI and a 4.00% cap rate.
    (619) 379-3337 Call to check price and availability
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    997 Broadway El Cajon, CA 92021
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    El Cajon, CA 92021
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    997 Broadway El Cajon, CA 92021
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Glickstein
    Real Estate License ID: 01075370
    (619) 379-3337
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