El Pollo Loco 3-Tenant Drive-Thru | 419 Euclid Ave
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El Pollo Loco 3-Tenant Drive-Thru 419 Euclid Ave
3,340 SF 100% Leased Retail Building San Diego, CA 92114 $4,150,000 ($1,243/SF) 5.11% Cap Rate
Investment Highlights
- 100% Leased with New NNN Leases— El Pollo Loco (drive-thru, 15-year lease), Verizon Wireless, and Bank of America ATM
- Exceptional High-Traffic, Dense Infill Location Across from Busy Trolley & Bus Transit Station
- Across the Street from Market Street Plaza— a 100% Leased, 81,000 SF Shopping Center Anchored by Food 4 Less, Starbucks, Wells Fargo, WingStop
- New Construction with Ease of Management
- Tremendous Amount of New Medical, Commercial & Residential Developments - 600+ New Multi-Family Units Planned or Underway Way Within Half Mile
- Immediately Adjacent to the New $79M, 65,000 SF County Health Facility that Recently Opened in September 2023 with an Estimated 238 Employees
Executive Summary
The subject offering is a new construction freestanding retail building 100% leased to 3 prominent national tenants: El Pollo Loco (drive-thru), Verizon, and Bank of America (ATM). Also part of the development is a freestanding Jamba drive-thru that is currently under construction and scheduled for opening in Q4-2024. This property is also available for sale separately or as a portfolio.
The property benefits from excellent visibility along the high-traffic Euclid Avenue corridor, as well as being situated directly across from a busy trolley and bus station. Also surrounding the property is a high-volume Food 4 Less anchored shopping center and a brand new 65,000 SF County health facility. The property is located in a densely populated submarket of San Diego that continues to see a significant amount of new multi-family, medical office, and other retail and cultural developments in the immediate area.
The property benefits from excellent visibility along the high-traffic Euclid Avenue corridor, as well as being situated directly across from a busy trolley and bus station. Also surrounding the property is a high-volume Food 4 Less anchored shopping center and a brand new 65,000 SF County health facility. The property is located in a densely populated submarket of San Diego that continues to see a significant amount of new multi-family, medical office, and other retail and cultural developments in the immediate area.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,340 SF
Building Class
B
Year Built
2022
Price
$4,150,000
Price Per SF
$1,243
Cap Rate
5.11%
NOI
$211,970
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Opportunity Zone
Yes
Frontage
56 FT on Euclid Avenue
Walk Score ®
Very Walkable (78)
Nearby Major Retailers
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Rob Bloom -
Austin Dias -
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El Pollo Loco 3-Tenant Drive-Thru | 419 Euclid Ave
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