El Cajon Redevelopment
For Sale
$1,498,800
939 W Main, El Cajon, CA 92020
Prime corner lot for mixed-use redevelopment in El Cajon.
Property Size3,800 SF
Lot Size0.48 Acres
Price / SF$394.42
Days on Market206
Property Features for 939 W Main
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.48 Acres
Building Details
Year Built
1972
Listing Agency:
Pacific Coast Commercial
Listed By:
Lesha Montoya · License #02007808
(858) 266-8329
Source:
Myfabuloushome
Added: Mar 26
Changed: Oct 11
Last Checked: Oct 7 at 3:45PM
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 Pacific Coast Commercial
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Investment Insights
Based on property information with market context.
Located on the west corner of W. Main Street and Millar Avenue in El Cajon, this property is available for sale for the first time in 40 years. The site currently houses an existing industrial warehouse, and the seller is open to selling licenses. Alternatively, the corner location presents an opportunity for redevelopment into a new mixed-use project featuring retail and office suites with upper shop keep units. The City of El Cajon is encouraging developers to bring mixed-use solutions to the area, which is undergoing regeneration. The property is situated on a main thoroughfare into the city from La Mesa and Santee. The surrounding area is envisioned as a walking, pedestrian-friendly district. The project could serve employees at nearby car dealerships and residents in the adjacent residential neighborhood. The city is interested in working with a developer to rejuvenate the area. The property is easily accessible, located within two blocks of HWY 8 onramps, near the signal at Marshall and Main Street, around the corner from the El Cajon Transit Center, and in close proximity to several major car dealerships. The property is part of the "Green Street Gateway" and "Commercial Village" redevelopment plan. The parcel size is approximately 3,800 square feet. The seller also owns the neighboring three parcels to the east, which can be sold separately or as a portfolio, allowing a developer to acquire four parcels totaling just over 21,000 square feet for a larger mixed-use development.
Key Highlights
- Prime redevelopment opportunity in El Cajon's designated revitalization zone with city support and developer incentives.
- Potential for a large‑scale mixed‑use project with low parking requirements due to transit district location.
- Portfolio sale opportunity to acquire almost an entire block (approximately 21,000 SF) across four parcels.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,002
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,120,040
$1.1M
Cap Rate 7%
$800,029
$800.0K
Cap Rate 9%
$622,244
$622.2K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$85.7K $22.56/SF
− Vacancy
−$11.1K −$2.91/SF
EGI
$74.7K $19.65/SF
− OpEx
−$18.7K −$4.91/SF
NOI
$56.0K $14.74/SF
Area
El Cajon, CA
Vacancy
12.90%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,120,040
Cap Rate 7%
$800,029
Cap Rate 9%
$622,244
Alternative Uses
Best Use
Office B
$800.0K
$700.0K – $933.4K
NOI $56,002 @ 7.0% cap · market cap 3.74%
Second Best
Warehouse
$675.6K
$591.2K – $788.2K
NOI $47,294 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$944.1K
$826.1K – $1.10M
NOI $66,090 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 92020, CA
60,454
Population
20,311
Households
3
Avg Household Size
37
Median Age
26%
College-Educated
84%
High-School Grad
11.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$72,822
Median Household Income
$39,855
Median Earnings
$1,793
Median Rent
$741,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime corner lot for mixed-use redevelopment in El Cajon.
Where is this mixed-use property located?
The property is located at 939 W Main El Cajon, CA.
What is the asking price?
The asking price for this property is $1,498,800.
What are key features of this property?
This property features: Prime redevelopment opportunity in El Cajon's designated revitalization zone with city support and developer incentives.; Potential for a large‑scale mixed‑use project with low parking requirements due to transit district location.; Portfolio sale opportunity to acquire almost an entire block (approximately 21,000 SF) across four parcels.
