2027-2037 Durfee Ave - Supermarket FOR SALE


South El Monte, CA 91733
$6,946,227 USD
714-504-0262
2027-2037 Durfee Ave, South El Monte, CA for Sale
$6,946,227 USD
Supermarket - FOR SALE
1/7
null | 6% Cap Rate

2027-2037 Durfee Ave
South El Monte, CA 91733


HIGHLIGHTS

  • Current in place rent average $1.35 p/SF modified gross, significantly below current market rate for similar assets in the trade area.
  • Most leases are gross month-to-month (except Dollar Tree and Wen's Doughnuts), offering the new owner a chance to reposition the property.
  • At the current list price the property is being offered for sale below replacement cost
  • Retail corridor in the trade area and home to a dynamic mix tenants that include Superior Grocers, CVS, Habit Burger, Panda Express, Autozone etc.

OVERVIEW

CBRE, Inc. is pleased to present 2027-2037 Durfee Avenue, a rare value-add multi-tenant shopping center, located at one of the busiest intersections in the city of South El Monte. The shopping center is located at the intersection of Durfee Avenue (29,200 CPD) and Peck Road (12,400 CPD) with other retailers at the intersection that include Superior Grocers, CVS, Habit Burger, Panda Express, Autozone, Jack in the Box, Starbucks, and many others. The property is anchored by Dollar Tree and includes six (6) local retail tenants with all (except Wen’s Donuts) operating on gross, month-to-month leases. With average in-place rents at the subject property of just $1.35/SF modified gross, the rents are significantly below market for similar properties in the immediate trade area. A new owner will have the opportunity to purchase the subject property well below replacement cost, and either redevelop the property in the future, or reposition the existing asset, and substantially increase rents as the current leases expire.

FOR SALE DETAILS

PRICE

$6,946,227 USD

PRICE/SF

$252 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Durfee Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

130

LAND DETAILS

LAND ACRES

2.31 AC

LAND SF

100,624 SF

ZONING

C

APN/PARCEL ID

8114-002-016,8114-002-017,8114-002-018

ASK ABOUT THIS PROPERTY

Arthur FloresCBRE, Inc.More Info
714-504-0262

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Arthur FloresCBRE, Inc.More Info
714-504-0262

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.