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INVESTMENT HIGHLIGHTS
- Ranks in the 97th percentile in the state of CA and 98th percentile nationwide in customer visits to the property over the last 12 months (Placer)
- The collateral features freestanding drive-thru pads/buildings with Starbucks and Popeye’s on separate legal parcels.
- Grove Plaza benefits from a seasoned tenant roster, with approximately 76% of the current tenancy in occupancy on/before 2016.
- Seafood City is the largest Filipino supermarket chain in North America, with locations in CA, HI, NV, WA and Canada, with 38 locations.
- Approximately 69% of the occupied square footage consists of national and regional tenants.
- An extensive remodel was completed in 2022/25 requiring minimal capital expenditures going forward, with approximately $4.5MM in capital improvements.
EXECUTIVE SUMMARY
Located in the densely populated San Diego community of National City, Grove Plaza is a grocery-anchored neighborhood shopping center that encompasses 48,600 (approximate) square feet of retail space, including 7,805 square feet of upper-level medical/dental/service space. The property is anchored by a strong performing 5,680 square foot Manila Seafood, one of the operating banners of dominant ethnic grocery operator Seafood City. Optimally positioned at the signalized intersection of Plaza Blvd. and Grove St., directly adjacent to Interstate 805, the property features freeway-visible pylon signage and benefits from outstanding visibility and access.
Seafood City is the largest Filipino supermarket chain in North America, with locations in California, Hawaii, Nevada, Washington and Canada. With 38 locations, Seafood City specializes fresh seafood, meat, and produce, along with Filipino food and products and a wide selection of imported Asian goods. Additional inline and pad tenants within Grove Plaza include Starbucks (freestanding drive-thru pad – top 1% nationwide annual visits), Popeye’s (freestanding drive-thru pad – top 8% nationwide annual visits), Subway, Red Ribbon Bake Shop (112,000 annual visits), Tapioca Express, T-Mobile, Advance America, Philippine National Bank (PNB), People Ready, Acuity Eye Group, and Spine & Sport Physical Therapy.
Seafood City is the largest Filipino supermarket chain in North America, with locations in California, Hawaii, Nevada, Washington and Canada. With 38 locations, Seafood City specializes fresh seafood, meat, and produce, along with Filipino food and products and a wide selection of imported Asian goods. Additional inline and pad tenants within Grove Plaza include Starbucks (freestanding drive-thru pad – top 1% nationwide annual visits), Popeye’s (freestanding drive-thru pad – top 8% nationwide annual visits), Subway, Red Ribbon Bake Shop (112,000 annual visits), Tapioca Express, T-Mobile, Advance America, Philippine National Bank (PNB), People Ready, Acuity Eye Group, and Spine & Sport Physical Therapy.
TAXES & OPERATING EXPENSES (ACTUAL - 2026) Click Here to Access |
ANNUAL (CAD) |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (ACTUAL - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 48,487 SF |
| Number of Properties | 4 | Total Land Area | 3.27 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 48,487 SF |
| Total Land Area | 3.27 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Grove Plaza
2220 E Plaza Blvd, National City, CA 91950 |
Retail | 27,955 SF | 1985 | - |
| 2240 E Plaza Blvd, National City, CA 91950 | Retail | 16,067 SF | 1988 | - |
| 2230 E Plaza Blvd, National City, CA 91950 | Retail | 2,320 SF | 1986 | - |
| 2210 E Plaza Blvd, National City, CA 91950 | Retail | 2,145 SF | 1986 | - |
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Grove Plaza
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