1347 Tavern Rd, Alpine, CA 91901-3853
- Retail space
- 57,457 SF
- 6.91 lot acres
Current Use by Public Records
- Alpine Creek Shopping Center / Shopping Center & Mall
- Mediterraneo / Restaurant
- Alpine Sushi & Grill / Restaurant
- La Carreta Mexican Restaurant / Restaurant
- JS Collectiv Salon+Spa / Hair Salon
Property Details for 1347 Tavern Rd
- Lot size
- 6.91 lot acres
- Zone code
- COMMERCIAL
- Property type
- Retail space
- APN
- 403-370-50-00
- APU
- 4033705000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 20, 2022 | — | Westcore Freightways LLC | — | Deed · related | $7.1M · Zb NA |
| May 22, 2007 | — | Westcore Freightways LLC | — | Trustees Deed · related | $5M · California Bk&tr |
| Sep 30, 2004 | — | Westcore Freightways LLC | Alpine Creek Center | Grant Deed | $3.9M · California Bk&tr |
| — | — | Westcore Freightways LLC | — | Deed Of Trust · related | $7.2M · California Bk&tr |
Description
This exceptional 56,387 square foot retail center in Alpine, CA (91901), presents a compelling investment opportunity. Located at the signalized intersection of Alpine Boulevard and Tavern Road, one block from Interstate 8, this property boasts a 100% occupancy rate and a strong tenant lineup including Barons Market, Ace Hardware, and Kahoots Pet Store. CVS Pharmacy serves as a significant co-anchor, further enhancing the center's appeal. Built in 1978 and renovated in 2008, the five single-story buildings sit on a 6.91-acre lot (APN 403-370-50). The center features upscale dining options, many operating for over a decade, creating a thriving community hub. The property's design incorporates well-lit walkways, parking lots, water features, and lush landscaping. This NNN-leased property features credit-rated, franchisee tenants, offering stability and predictable income. The asking price is $14,000,000, representing a price per square foot of $248.28 and a 6.68% cap rate. As the only grocery and drug-anchored center in the Alpine submarket, this investment offers significant potential for long-term growth and returns. The property's location in an affluent area, coupled with its below-market rents and internet-resistant tenant mix, ensures a resilient and profitable investment.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $15,040,000
- 6.5%
- $13,885,000
- 7%
- $12,895,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $6,937,000
Market price range: $3.73M - $10.4M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Alpine
- County
- San Diego
- State
- California
- Longitude
- -116.777
- Latitude
- 32.837
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
