Multi-Tenant Retail & Office
For Sale
Contact for pricing
1627 Main St, El Centro, CA 92243
90% leased retail and office property in Imperial County.
Property Size22,018 SF
Lot Size25.00 Acres
Price / SF$181.67
Days on Market690
Property Features for 1627 Main St
General Information
Standard status
Active
Size
22,018 SF
Lot size
25.00 Acres
Property subtype
Office, Retail
Occupancy
90%
Investment Type
Value Add
Net Operating Income
$355,921
Building Details
Year Built
1960
Year Renovated
2006
Buildings
1
Stories
1
Units
12
Tenancy
Multi
Listing Agency:
Russell E. Gross Real Estate, Inc.
Listed By:
Russell Gross · License #California 00887251
(831) 464-4700
Source:
Crexi
Added: Nov 15, 2024
Changed: Sep 30
Last Checked: Oct 5 at 6:16PM
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 Russell E. Gross Real Estate, Inc.
Investment Insights
Based on property information with market context.
This multi-tenant retail and office property is currently 90% leased to 12 tenants. The property is comprised of retail shops on the east side, making up 55.9% of the gross leasable area (GLA), and offices on the west side, comprising 44.1% of the GLA. Half of the tenants, representing just over 50% of the GLA, have occupied the building for over 10 years. The retail rents average $1.43 per square foot per month. There is potential upside in leasing out the remaining 2,070 square feet of office vacancy. The property is part of the Valley Plaza, a community center situated on over 25 acres. Other tenants in the center include Grocery Outlet, Rite Aid, Starbucks, 4:13 Fitness (opening Q1-2025), Skechers, and Imperial Irrigation District, along with restaurants, retailers, and office users. The center is located in the heart of Imperial County and surrounded by local government offices, single-family residential areas, apartments, and schools. The property is located along Imperial Avenue, the main commercial arterial in the County with a variety of retail and restaurant uses. The property size is 22,018 square feet.
Key Highlights
- 90% leased to 12 tenants, providing stable income.
- Located in the heart of Imperial County on the main commercial arterial.
- Part of Valley Plaza, a 300,000+ SF community center.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$331,723
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,634,460
$6.6M
Cap Rate 7%
$4,738,900
$4.7M
Cap Rate 9%
$3,685,811
$3.7M
Market Conditions
NOI Build-Up for 22,018 SF
Gross rent
$475.6K $21.60/SF
− Vacancy
−$33.3K −$1.51/SF
EGI
$442.3K $20.09/SF
− OpEx
−$110.6K −$5.02/SF
NOI
$331.7K $15.07/SF
Area
Imperial County, CA
Vacancy
7.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,634,460
Cap Rate 7%
$4,738,900
Cap Rate 9%
$3,685,811
Alternative Uses
Best Use
Office B
$4.74M
$4.15M – $5.53M
NOI $331,723 @ 7.0% cap · market cap 8.29%
Second Best
Retail
$3.77M
$3.29M – $4.39M
NOI $263,555 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$5.62M
$4.91M – $6.55M
NOI $393,153 @ 7.0% cap · market cap 9.83%
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
967
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92243, CA
49,149
Population
15,908
Households
3.1
Avg Household Size
36
Median Age
16%
College-Educated
74%
High-School Grad
113.3 sq mi
ZIP Area
434
Density / Sq Mi
$55,890
Median Household Income
$31,170
Median Earnings
$992
Median Rent
$286,100
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
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Frequently Asked Questions
What type of property is this?
Shopping center - 90% leased retail and office property in Imperial County.
Where is this shopping center located?
The property is located at 1627 Main St El Centro, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 90% leased to 12 tenants, providing stable income.; Located in the heart of Imperial County on the main commercial arterial.; Part of Valley Plaza, a 300,000+ SF community center.
