427-435 Redlands St
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427-435 Redlands St
5,990 SF 100% Leased Retail Building Vista, CA 92083 $2,150,000 ($359/SF)
Investment Highlights
- Two-building, 5,990 square foot auto repair center near downtown Vista
- Submarket vacancy for auto repair properties is 0%
- Walking distance to public transit (rail/bus) and downtown Vista
- 435 Redlands is 1,800 SF with 3 service bays; 427 Redlands is 4,190 SF with 8 service bays and an additional permitted painting booth
- The property sits on 0.52 acres which is zoned Mixed-Use
Executive Summary
427 & 435 Redlands is a versatile opportunity for an owner-user, investor or developer. Owner-users and investors alike can utilize the property for continued auto repair services, or other uses that conform to the Mixed-Use zoning. Developers may benefit from entitlement incentives for projects that meet affordable housing benchmarks.
The property boasts a superb location and is walking distance to the Vista Transit Center which supports both rail and bus service along the 78 corridor. There are three access points: along Redlands Street, West Connecticut Avenue and the alleyway off West Connecticut Avenue. Surrounded by housing, it is also just a short walk to historic downtown Vista.
With rents substantially below market and all leases month-to-month or terminating by the end of 2024, investors are able to immediately push rents up to market. The 0% vacancy rate for auto repair properties in Vista and 2% vacancy rate across the 78 corridor make this a once in a generation opportunity and a difficult place to vacate.
Contact listing agent for OM and pricing guidance.
The property boasts a superb location and is walking distance to the Vista Transit Center which supports both rail and bus service along the 78 corridor. There are three access points: along Redlands Street, West Connecticut Avenue and the alleyway off West Connecticut Avenue. Surrounded by housing, it is also just a short walk to historic downtown Vista.
With rents substantially below market and all leases month-to-month or terminating by the end of 2024, investors are able to immediately push rents up to market. The 0% vacancy rate for auto repair properties in Vista and 2% vacancy rate across the 78 corridor make this a once in a generation opportunity and a difficult place to vacate.
Contact listing agent for OM and pricing guidance.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,990 SF
Building Class
B
Year Built
1955
Price
$2,150,000
Price Per SF
$359
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
0.50 AC
Zoning
M-U - Mixed Use
Frontage
331 FT on West Connecticut Avenue
Amenities
- Corner Lot
- Signage
Walk Score ®
Very Walkable (82)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $220,327 | |
| Land Assessment | $744,984 | Total Assessment | $965,311 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$744,984
Improvements Assessment
$220,327
Total Assessment
$965,311
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427-435 Redlands St
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