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    1627 Main St El Centro, CA 92243

    Sponsored
    For Sale
    $4,000,000

    High-Yield Multi-Tenant Property in CA

    Property size:
    22,018 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add investment opportunity presents a 22,018 square foot, single-story retail and office building located at 1627 Main St, El Centro, CA 92243. The property, built in 1960 and renovated in 2006, boasts a strong 90.6% occupancy rate across 12 units, generating a substantial net operating income (NOI) of $326,630 and an attractive 8.17% cap rate. Priced at $4,000,000 ($181.67/SF), the property offers significant upside potential. The building is strategically divided into retail (55.9% of GLA) and office (44.1% of GLA) spaces, with over half of the tenants occupying the space for over a decade. Current retail rents average $1.43/SF/month, presenting a clear opportunity to increase rents to market rates as leases expire. An immediate opportunity exists to lease the remaining 2,070 square feet of vacant office space. The property benefits from its location within the Valley Plaza, a thriving 300,000+ square foot community center on over 25 acres, featuring a diverse mix of retail and office tenants including Grocery Outlet, Rite Aid, Starbucks, and 4:13 Fitness (opening Q1 2025). Its central location in El Centro, Imperial County, places it near government offices, residential areas, and schools, along Imperial Avenue, a major commercial thoroughfare. This property represents a compelling investment opportunity with strong cash flow and significant future growth potential.

    Property Features for 1627 Main St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    22,018 SF

    Building Details

    Year Built/Renovated
    1960/2006
    Buildings
    1
    Stories
    1
    Units
    12

    HighLights

    • 22,018 SF retail/office building, 90.6% occupied, generating $326,630 NOI and an 8.17% cap rate.
    • Located within a 300,000+ SF community center anchored by Grocery Outlet, Rite Aid, Starbucks, and 4:13 Fitness.
    • Prime El Centro location near government offices, residential areas, and schools on a major commercial thoroughfare.
    • Significant upside potential due to below‑market rents and 2,070 SF of vacant office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fortune House Chinese Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    El Centro
    County
    Imperial
    State
    California
    Longitude
    -115.57266946821
    Latitude
    32.791191553766

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    FAQs

    What type of property is this?
    Lifestyle center - High-Yield Multi-Tenant Property in CA
    Where is this lifestyle 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: 22,018 SF retail/office building, 90.6% occupied, generating $326,630 NOI and an 8.17% cap rate.; Located within a 300,000+ SF community center anchored by Grocery Outlet, Rite Aid, Starbucks, and 4:13 Fitness.; Prime El Centro location near government offices, residential areas, and schools on a major commercial thoroughfare.
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    El Centro, CA 92243
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    Realmo Value Estimation

    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.

    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.

    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
    1627 Main St El Centro, CA 92243
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