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- LoopNet Team
562 W Grand Ave
Escondido, CA 92025
Escondido Redevelopment Site · Land For Sale
·
0.64 AC
INVESTMENT HIGHLIGHTS
- Full Feasibility Study and Approved Plans Available
- Convenient Freeway Access to I-15
- Walk Score of 92 (Walker's Paradise)
- Flat Corner Lot (0.64 Acres)
- In Place Income of $6,831/month (NNN lease expires in 9 months)
- Visible to +/- 31,500 Vehicles Per Day
PROPERTY FACTS
DESCRIPTION
New development opportunity in downtown Escondido. The property currently consists of one 3,686 sqft commercial building and the adjacent vacant parking lot. The two parcels combined are 0.64 acres or 27,999 sqft. There is a tenant in the commercial property that pays $6,381/month and are on a NNN lease that expires in nine months. They would stay in place longer than that if so desired by a new owner. Current ownership has done a ton of the front end due diligence on this property including a full feasibility study, obtained historical clearance from the city and have had plans approved for a 97 unit mixed use project. The project would allow for 83 market rate residential units, 14 residential units at low to medium income and three commercial spaces on the ground floor. Unlike many higher density projects, there are 134 parking spaces in the plans as well as roof top amenities for future residents. For access to the DD file, please reach out to listing agents directly.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $306,000 | |
| Land Assessment | $2,499,000 | Total Assessment | $2,805,000 |
PROPERTY TAXES
