1802 Imperial Ave El Centro, CA 92243

Property Details for 1802 Imperial Ave

Year built

1986

Property size

62,106 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional value-add opportunity presents a 62,106 square foot multi-tenant shopping center in El Centro, CA. Boasting 100% occupancy with twelve tenants, including national retailers like Harbor Freight Tools, Boot Barn, Sally Beauty Supply, and Ace Cash Express, the property generates a strong NOI of $814,083, representing a 7.00% cap rate at an asking price of $11,630,000 ($187.26/sq ft). Built in 1986, the center benefits from a dominant location within a larger 210,726 square foot complex on 20 acres, shadow anchored by a high-performing Cardenas Market and Planet Fitness. Its prime position along Imperial Avenue (Highway 86), a major North/South artery with 27,483 daily vehicles, provides excellent visibility and accessibility. The surrounding area features over 1 million square feet of retail space, including major national retailers like Walmart, Costco, and Target. El Centro, the county seat, offers a strong demographic profile with a population of 70,591 within a 5-mile radius and an average household income of $76,373. Significant value-add potential exists through lease renegotiations on several below-market spaces, including a 5,000 square foot pad building currently leased at $1.20/SF/month NNN, with market rents ranging from $2.25 to $2.50/SF/month NNN. Six additional suites ranging from 1,000 to 2,800 square feet also present opportunities for rental increases, currently 25-45% below market rates. The property's APN is 064-470-088, 064-470-089, 064-470-083, 064-470-082, 064-470-090, 064-470-081.

Location Insight

City

El Centro

County

Imperial

State

California

Longitude

-115.571

Latitude

32.8089