8745 N Magnolia Ave $5,100,000

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    8745 N Magnolia Ave Santee, CA 92071

    • Commercial Lease
    MLS# 190001751 | Active
    Days On Market: 255 0 Views
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    Property Details

    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.

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    Neighborhood

    92071 (Santee) Demographics

    38Median Age
    3,253Population Density (per sq. mile)
    38%College Educated
    $77,712 Estimated Median Income
    13,646Estimated Total Home Owners
    5,790Estimated Total Renters
    70% / 30%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    56,682Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $499,000 Median Sales Price
    67 Homes Sold
    73 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $5,100,000
        1/8/2019 7:18:00 PM New in Database Source

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        Based on information from California Regional Multiple Listing Service, Inc. as of 9/21/2019 4:24:46 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.