Listing provided courtesy of Pat Geary of CEG Advisors. Last updated 2019-06-18 09:25:54.000000. Listing information © 2020 SANDICOR, Inc.
Asking Price: $5,100,000
8745-8747 Magnolia Ave, Santee CA 92071
Community: East County
This Commercial-Off/Rtl/Ind property was built in 0 and is priced at $5,100,000. Please see the additional details below.
- 0 Sq Ft
- 0 bathrooms
- MLS#: 190001751
- Type: Commercial-Off/Rtl/Ind
- Year Built: 0
100% Leased Investment Opportunity | Multi-Tenant Industrial - Sale Price: $5,100,000 ($140/SF) - Cap Rate: 5.52% - Zoning: GC (General Commercial) - Buildings: Two (2) - Approximately 17,302 SF and 19,043 SF The property is within close proximity to the Hwy 67 and SR-52 freeway exchange in Santee. The property is 100% leased, with low maintenance, and is comprised of two buildings and four tenants. The property offers investors the opportunity to acquire a stabilized asset below replacement cost, at an attractive price per square foot, with future upside in continuing to increase rents to market. With historically low vacancy in East County, industrial properties have proven to be some of the most resilient and valuable assets in the commercial real estate sector. The scarcity of this product type makes for a great long-term hold.