1068 Broadway El Cajon, CA 92021

15,632 SF 0.89 ac lot Built 1985

Individually Owned 3-yr Hold ~ Est. High Equity

Property ID

US09-8848329

$6,100,000 15,632 SF

1068 Broadway, El Cajon, CA 92021
View Listing →

Google Maps

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.