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222 W Main St
Alhambra, CA 91801
Retail Property For Sale
Investment Highlights
- Population of more than 43,400 people within one mile of the subject property, 249,700 people within three miles, and 654,500 people within five miles
- There are over 16,300 households within one mile of the subject property, and over 85,700 households within three milest
- More than 1,800 businesses within a 1-mile radius of the property with a combined annual consumer spending of $510 million
- Immediate submarket boasts an average household income within one, three, and five miles is $95,000, $109,300, and $107,100, respectively
- The median home value in the immediate area is $803,000
Executive Summary
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 200–208, 222–236 W Main Street, a 30,477 SF multi-tenant street retail portfolio situated on 0.70 acres (30,638 SF) of land in the heart of Alhambra, CA. The portfolio is positioned along Main Street, Alhambra’s primary commercial corridor, at the signalized southwest corner of S 2nd Street, benefiting from traffic counts in excess of 24,000 vehicles per day and a Walk Score of 94 (“Walker’s Paradise”) in a highly supply-constrained infill submarket.
The offering consists of six (6) parcels, available individually or as a portfolio, and is currently 91.8% occupied. The tenant mix is comprised primarily of neighborhood-serving and experiential uses, including restaurants and cafés, music instruction, a cosmetology school, salon services, and childcare – daily need and service uses that benefit from Main Street’s walk-in traffic. With the exception of Unit 7 and 230, the majority of tenants are on short-term leases, with a weighted average lease term remaining of approximately 1.77 years, providing meaningful near-term flexibility.
The portfolio generates $54,452.38 per month ($1.95/SF), or $653,428.56 annually, with all tenants subject to 3% annual rent increases. In addition, all tenants, excluding Unit 200 and the second-floor tenants, pay a fixed $0.50/SF CAM reimbursement.
The offering consists of six (6) parcels, available individually or as a portfolio, and is currently 91.8% occupied. The tenant mix is comprised primarily of neighborhood-serving and experiential uses, including restaurants and cafés, music instruction, a cosmetology school, salon services, and childcare – daily need and service uses that benefit from Main Street’s walk-in traffic. With the exception of Unit 7 and 230, the majority of tenants are on short-term leases, with a weighted average lease term remaining of approximately 1.77 years, providing meaningful near-term flexibility.
The portfolio generates $54,452.38 per month ($1.95/SF), or $653,428.56 annually, with all tenants subject to 3% annual rent increases. In addition, all tenants, excluding Unit 200 and the second-floor tenants, pay a fixed $0.50/SF CAM reimbursement.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,250 SF
Building Class
C
Year Built
1921
Price
$998,078 CAD
Price Per SF
$798.46 CAD
Cap Rate
5.50%
NOI
$54,898 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.36
Lot Size
0.08 AC
Parking
5 Spaces (4 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 5344-024-005 | Improvements Assessment | $346,832 CAD |
| Land Assessment | $980,070 CAD | Total Assessment | $1,326,902 CAD |
Property Taxes
Parcel Number
5344-024-005
Land Assessment
$980,070 CAD
Improvements Assessment
$346,832 CAD
Total Assessment
$1,326,902 CAD
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