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CITIBANK NNN INVESTMENT OPPORTUNITY 5998 El Cajon Blvd 6,256 SF Retail Building San Diego, CA 92115 $5,839,400 CAD ($933.41 CAD/SF) 4.28% Cap Rate
Investment Highlights
- Current Lease Expiring January 31, 2028
- Tenant has Three 5-Year Options to Extend
- Operated as a Drive Thru Bank Building for more than 50 Years!
- Building Size Approx 6,256 SF Lot Size Approx 22,651 SF
- Corporate Backed Lease from a Fortune 50 Company Worth Over $90 Billion
- Annual 1.5% Annual Increases
Executive Summary
The Franco Realty Group is proud to exclusively present for sale this single tenant NNN investment opportunity leased to Citibank. This is an excellent 1031 exchange opportunity that will provide little to no management. The current option period expires February 1, 2028 and Citibank has Three 5-Year Options to Extend. The current Net Operating Income is $184,231.22 and there are 1.5% annual increases. The building has a drive thru and the building size is 6,256 SF. The lot size is 22,651 SF and the property is on the corner of El Cajon Boulevard and Albuquerque Street. There are approx. 20 onsite parking spaces and about 44,700 cars per day that pass by.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
6,256 SF
Building Class
C
Year Built
1970
Price
$5,839,400 CAD
Price Per SF
$933.41 CAD
Cap Rate
4.28%
NOI
$250,186 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.52 AC
Zoning
CC-3-8 - Commercial
Parking
20 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
66’ on El Cajon Blvd
Amenities
- Banking
- Signage
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 466-602-31 | Improvements Assessment | $1,973,448 CAD |
| Land Assessment | $2,923,628 CAD | Total Assessment | $4,897,076 CAD |
Property Taxes
Parcel Number
466-602-31
Land Assessment
$2,923,628 CAD
Improvements Assessment
$1,973,448 CAD
Total Assessment
$4,897,076 CAD
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CITIBANK NNN INVESTMENT OPPORTUNITY | 5998 El Cajon Blvd
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