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1950 S 4th Street - Mission Center, El Centro, CA

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1950 S 4th Street - Mission Center

El Centro, CA 92243-4723

Property Type:Retail Sub Type:- Status:Existing Year Built:1990
Building Size:19,347 SF Land Area:2.19 AC (95,396 SF)
For Sale Price:$3,975,000 Price/SF:$205.46
Cap Rate:7.51 %
Parking:55 Surface spaces are available; Ratio of 2.84/1,000 SF
Features:Pylon Sign, Signalized Intersection

Sale Notes:
Well Maintained Shopping Center
" The current owner is also the original developer of Mission Center and has taken great pride over the years to keep the property in excellent condition. The landlord has spent over $400,000 in the last 3 years improving the property.
" Recent improvements include repairs to the roof, he has replaced the entire parking lot with concrete, he has replaced most of the HVAC units within the last 3 years and painted the exterior of the property. There is not much, if any, capital improvements or deferred maintenance to the future owner.
Excess Land For Future Development
" The offering includes approximately ½ acre of land that is immediately available for development increasing potential income and overall return. A subsequent owner has the ability to develop separately or redevelop the entire shopping center.
" Pursuant to the zoning regulation, the subject property is zoned CG which allows for a 50% lot coverage or an additional 28,000 sf (assuming parking requirements are also met)

Upside Opportunity
" An investor has the opportunity to immediately realize potential upside upon leasing the one remaining vacancy of the center.

Investcore Commercial
Michael Campbell
(858) 531-6585

Ed Colson, CCIM
(619) 546-0121

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