5998 El Cajon Blvd
San Diego, CA 92115
CITIBANK NNN INVESTMENT OPPORTUNITY · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- NEW 5 Year Lease Expiring January 31, 2028
- Tenant has Three 5-Year Options to Extend
- Operated as a Drive Thru Bank Building for more than 50 Years!
- Building Size Approx 6,256 SF Lot Size Approx 22,651 SF
- Corporate Backed Lease from a Fortune 50 Company Worth Over $90 Billion
- Annual 1.5% Annual Increases
EXECUTIVE SUMMARY
The Franco Realty Group is proud to exclusively present for sale this single tenant NNN investment opportunity leased to Citibank. This is an excellent 1031 exchange opportunity that will provide little to no management. Citibank just exercised their option to extend their lease, which provides a landlord with a new 5 year lease.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,256 SF
Building Class
C
Year Built
1970
Price
$4,200,000
Price Per SF
$671
Cap Rate
4.32%
NOI
$181,509
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.52 AC
Zoning
CUPD-CU-2- - Commercial
Parking
20 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
66 FT on El Cajon Blvd
AMENITIES
- Banking
- Signage
- Drive Thru
PROPERTY TAXES
Parcel Number | 466-602-31 | Improvements Assessment | $1,404,540 |
Land Assessment | $2,080,800 | Total Assessment | $3,485,340 |