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Fite Plaza 8870-8878 La Mesa Blvd 11,120 SF 100% Leased Retail Building La Mesa, CA 91942 $8,049,016 CAD ($723.83 CAD/SF) 5.03% Cap Rate
Executive Summary
The Bove Group proudly presents 8870-78 La Mesa Blvd, part of the Fite Plaza / Bel Arms ensemble — a fully leased, income-producing, mixed-use property with immediate cash flow, and significant value-add or redevelopment upside. The asset combines a 5-tenant retail building (11,120 SF) with a 10-unit apartment complex, all on 0.86 acres in one of East County’s most accessible and desirable locations.
The retail component generates stable cash flow from a diversified tenant roster, while the multifamily component offers upside through normalization of rents, interior upgrades, or repositioning. Because of the site’s compact footprint and location near major freeways and community amenities, a creative owner could explore infill or densification strategies. With limited new ground available in this submarket, this property represents a compelling opportunity to acquire a multi-layered real estate play in La Mesa.
The retail component generates stable cash flow from a diversified tenant roster, while the multifamily component offers upside through normalization of rents, interior upgrades, or repositioning. Because of the site’s compact footprint and location near major freeways and community amenities, a creative owner could explore infill or densification strategies. With limited new ground available in this submarket, this property represents a compelling opportunity to acquire a multi-layered real estate play in La Mesa.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,120 SF
Building Class
C
Year Built
2000
Price
$8,049,016 CAD
Price Per SF
$723.83 CAD
Cap Rate
5.03%
NOI
$404,902 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.62
Lot Size
0.41 AC
Zoning
C-D-MU - Commercial
Parking
12 Spaces (1.08 Spaces per 1,000 SF Leased)
Frontage
256’ on La Mesa Blvd
Amenities
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Services
- -
- -
-
Jan 0000
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Services | - | - | Jan 0000 |
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 494-840-01 | Improvements Assessment | $734,896 CAD |
| Land Assessment | $904,486 CAD | Total Assessment | $1,639,381 CAD |
Property Taxes
Parcel Number
494-840-01
Land Assessment
$904,486 CAD
Improvements Assessment
$734,896 CAD
Total Assessment
$1,639,381 CAD
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Fite Plaza | 8870-8878 La Mesa Blvd
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