Private Investor Acquires Property At 110 Fletcher Pkwy El Cajon For $11.4 Million
SOLD
$11,400,000
California
See Similar DealsRetail11,996 SF
SOLD
Private Investor Acquires Property At 110 Fletcher Pkwy El Cajon For $11.4 Million
110 Fletcher Pkwy, El Cajon, CA, 92020
See Similar DealsRetail11,996 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$950
Total Square Footage:11,996 SF
Transaction Type:Sale
The asset involved in the transaction is Fletcher Marketplace, a retail strip center located at 110 Fletcher Parkway, El Cajon, CA 92020. This property was sold for $11,400,000.00 and comprises a total of 11,996 square feet, situated on 1.9 acres. It was built in 2020 and is triple-net leased to five tenants, including Mattress Firm, Dave’s Hot Chicken, The Joint Chiropractic, Urbane Café, and California Fish Grill.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,400,000.00
- Address: 110 Fletcher Pkwy, El Cajon, CA, 92020
- Market: El Cajon
- Square Footage: 11,996
- Seller's Representative: Daniel Tyner - JLL
- Buyer: Private Investor
Gleb Lvovich and Daniel Tyner of JLL Retail Capital represented the seller in this transaction. Don Moser of Retail Insite provided local market support during the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$607,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,501.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,041.82
Annual Debt Service$648,501.79
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