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Central Lakeside Shopping Center 9720-9750 Winter Gardens Blvd 59,736 SF 95% Leased Retail Building Lakeside, CA 92040 $25,836,191 CAD ($432.51 CAD/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare, Wholly Owned Anchored Center - center located on the high-traffic intersection of Woodside Ave (±13,700 CPD) & Winter Gardens Blvd (±10,000 CPD)
- Credit, Publicly Traded National and Regional Brand Operators
- Well Below Market Rents – Property wide, current lease rates are estimated to be 25% below market
- Optimally Configured, Grocery and Drug Store Anchored Neighborhood Center - synergistic mix of anchor, in-line shops, and two pad buildings
- Established and Stabilized Tenancy – Eight tenants have been at the property for 5+ years and four tenants for 10+ years–WALT at 6.47 years
- Multiple Parcel “Spin Off” Opportunity – With its 3 parcels, there is an opportunity to spin-off the pads in separate sales
EXECUTIVE SUMMARY
* Rare, Wholly Owned Anchored Center – Grocery and drug anchored shopping center located on the high-traffic intersection of Woodside Ave (±13,700 CPD) and Winter Gardens Blvd (±10,000 CPD) with immediate access to State Highway 67 (±80,000 CPD), positioning itself as one of the most dominant centers in the surrounding trade area comprised of three parcels
* Optimally Configured, Grocery and Drug Store Anchored Neighborhood Center – The site plan is ideally configured with a synergistic mix of anchor, in-line shops, and two pad buildings, including the Grocery Outlet and Walgreens anchors and separately parceled KFC and Starbucks pads, providing a strong “daily need” and internet-resistant draw to the center
* Credit, Publicly Traded National and Regional Brand Operators – Occupied by numerous well-known, “credit”, and publicly traded national and regional brands including Grocery Outlet, Walgreens, Starbucks, O’Reilly Auto Parts, KFC, EVgo, and Jersey Mike’s - national and regional brand tenants occupy ±82% of the GLA, influencing ±74% of the rental income
* Established and Stabilized Tenancy – Eight tenants (±69% of the leased GLA) have been at the property for 5+ years and four tenants (±57% of the leased GLA) for 10+ years–WALT at 6.47 years provides additional tenant stability while limiting near-term rollover risk
* Well Below Market Rents – Property wide, current lease rates are estimated to be 25% below market with some tenants more significantly below market than that including Walgreens, KFC (drive-thru pad), Starbucks (drive-thru pad), and Jersey Mike’s Subs
* Multiple Parcel “Spin Off” Opportunity – With its 3 parcels, including the single-tenant drive-thru KFC and the multi-tenant Starbucks and Jersey Mike’s pads on separate parcels and with below market rents, there is an opportunity to spin-off the pads in separate sales and potentially at lower cap rates to reduce basis and increase returns
* Optimally Configured, Grocery and Drug Store Anchored Neighborhood Center – The site plan is ideally configured with a synergistic mix of anchor, in-line shops, and two pad buildings, including the Grocery Outlet and Walgreens anchors and separately parceled KFC and Starbucks pads, providing a strong “daily need” and internet-resistant draw to the center
* Credit, Publicly Traded National and Regional Brand Operators – Occupied by numerous well-known, “credit”, and publicly traded national and regional brands including Grocery Outlet, Walgreens, Starbucks, O’Reilly Auto Parts, KFC, EVgo, and Jersey Mike’s - national and regional brand tenants occupy ±82% of the GLA, influencing ±74% of the rental income
* Established and Stabilized Tenancy – Eight tenants (±69% of the leased GLA) have been at the property for 5+ years and four tenants (±57% of the leased GLA) for 10+ years–WALT at 6.47 years provides additional tenant stability while limiting near-term rollover risk
* Well Below Market Rents – Property wide, current lease rates are estimated to be 25% below market with some tenants more significantly below market than that including Walgreens, KFC (drive-thru pad), Starbucks (drive-thru pad), and Jersey Mike’s Subs
* Multiple Parcel “Spin Off” Opportunity – With its 3 parcels, including the single-tenant drive-thru KFC and the multi-tenant Starbucks and Jersey Mike’s pads on separate parcels and with below market rents, there is an opportunity to spin-off the pads in separate sales and potentially at lower cap rates to reduce basis and increase returns
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
59,736 SF
Building Class
B
Year Built/Renovated
1978/2009
Price
$25,836,191 CAD
Price Per SF
$432.51 CAD
Cap Rate
6.25%
NOI
$1,614,748 CAD
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
6.03 AC
Zoning
C - Commercial
Parking
316 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
439’ on Winter Gardens Blvd
AMENITIES
- Corner Lot
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Grocery Outlet Holding Corp. is an American discount grocery retailer founded in 1946 by James Read in San Francisco, California. The company operates a network of independently owned and operated stores under the Grocery Outlet Bargain Market banner. Its business model focuses on opportunistic purchasing of surplus, overstock, and closeout products from major manufacturers, allowing customers to save 40–70% compared to conventional retail prices. As of late 2025, the company operates over 535 stores across 16 states, with California being its largest market. The Campbell location serves the South Bay area, offering groceries, fresh produce, frozen foods, health and beauty products, and household essentials at significant discounts.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 9748
- 1,700 SF
- Retail
- In-Line
- Now
- 9750
- 1,000 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| 9748 | 1,700 SF | Retail | In-Line | Now |
| 9750 | 1,000 SF | Retail | End Cap | Now |
9748
| Size |
| 1,700 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
9750
| Size |
| 1,000 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $17,078,284 CAD | |
| Land Assessment | $9,404,487 CAD | Total Assessment | $26,482,771 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$9,404,487 CAD
Improvements Assessment
$17,078,284 CAD
Total Assessment
$26,482,771 CAD
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Central Lakeside Shopping Center | 9720-9750 Winter Gardens Blvd
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