1068 Broadway El Cajon, CA 92021
- Medical offices
- 15,632 SF
- 0.89 lot acres
Current Use by Public Records
- Faragallah S Chiropractic Orthost & QLFD MDCL Exmn / Sports Medicine Clinic / Orthopedic Clinic
- CRT Plasma / Blood Donation Center / Blood Bank
- East County Pain and Rehabilitation Center / Medical Center / Alternative Medicine Practitioner
- Cheri Joseph L.Ac. HHP / Alternative Medicine / Pain Control Clinic
- Scantibodies Biologics Plasma Center / Blood Donation Center / Donations Center
Property Details for 1068 Broadway
- Year built
- 1985
- Lot size
- 0.89 lot acres
- Property size
- 15,632 SF
- Zone code
- COMMERCIAL
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 484-293-34-00
- APU
- 4842933400
Description
This exceptional investment opportunity presents a 15,632-square-foot medical office building in El Cajon, CA, currently occupied by CRT Plasma under a 15-year absolute triple-net (NNN) lease. The lease features a 6.95% cap rate and a substantial 2.5% annual rent increase. Four 5-year renewal options provide long-term stability. The property boasts a 100% occupancy rate and a strong NOI of $468,960. Situated on a 0.89-acre lot, the building was constructed in 1984 and enjoys a prime location on Broadway, a major thoroughfare with over 24,700 vehicles daily. The area offers excellent visibility and accessibility, with proximity to Interstate 8 (148,000 VPD) and CA-67 (100,000 VPD). The surrounding area is densely populated, with over 308,000 residents within a five-mile radius and an average household income exceeding $124,210. Major retailers such as Target, Home Depot, and Best Buy are nearby, along with Parkway Plaza, a regional shopping center. The low submarket vacancy rate of 3% (according to CoStar) further underscores the desirability of this location. The tenant, CRT Plasma, is a well-established medical practice led by a Johns Hopkins-trained specialist, ensuring a stable and reliable income stream. This sale-leaseback opportunity offers a compelling combination of strong financial performance, long-term lease security, and a desirable location within the San Diego MSA. The asking price is $6,750,000.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $6,625,000
- ML approach
- $6,600,000
-
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $7,420,000 Current use
- RESTAURANT
- $10,250,000 Change: +38% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- El Cajon
- County
- San Diego
- State
- California
- Longitude
- -116.946
- Latitude
- 32.8081
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
