Frank Lee Blvd & Sunset Blvd Calexico, CA 92231
- Land
- 6.11 lot acres
Current Use by Public Records
- Land
Property Details for 0 Frank Lee Blvd & Sunset Blvd
- Lot size
- 6.11 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 6.11-acre commercial and industrial land parcel in Calexico, CA (APN: 059-541-003-000), presents a compelling opportunity for the development of a Class A self-storage facility. Located at Frank Lee Blvd & Sunset Blvd, 92231, this IR-zoned property boasts a projected 104,550 rentable square feet and 729 units. The asking price is $1,195,000, with a pro-forma NOI of $1,128,668 and a pro-forma cap rate of 94.45%. This represents a significant value proposition, considering construction bids are estimated at $79 per square foot, while comparable Class-A storage facilities in Southern California sell for over $200 per square foot. The site's strategic location near the US/Mexico border, which sees over 15 million crossings annually, and its proximity to major retailers, restaurants, and hotels, ensures high demand and strong potential for rapid stabilization. The Imperial County market exhibits a low square footage per capita for storage, indicating significant unmet demand. Development costs are estimated at $11 million, with a projected stabilized value of approximately $20 million within 3-4 years, yielding substantial profit potential. This is a rare chance to capitalize on the burgeoning self-storage market in a high-growth area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Calexico
- County
- Imperial
- State
- California
- Longitude
- -115.512
- Latitude
- 32.7031
