Listed by South Coast Commercial
$2,950,000
4228 El Cajon Blvd
Details
APN 471-051-15
Property Type Office, Retail
Sub Type Storefront
Square Footage 6,752
Net Rentable (SqFt) 6,752
Units 9
Cap Rate 2.60%
NOI $112,783
Occupancy 70%
Pro-Forma Cap Rate 5.30%
Pro-Forma NOI $157,570
Price per SqFt $444
Broker Co-Op Yes
Class C
Year Built 1942
Buildings 1
Stories 1
Lot Size (SqFt) 12,279
Zoning Complete Communities Tier 3 Overlay
Investment Type Redevelopment
Sale Condition 1031 exchange
Covered land play with plans submitted for 78 units + retail under Tier 3 zoning
Marketing description
PRICE DROPPED! Rare City Heights redevelopment site on busy El Cajon Blvd: ±12,250 SF lot with ±6,752 SF existing retail, all month-to-month. Complete Communities Tier 3 Overlay allows up to 6.5 FAR with no parking minimums. Preliminary plans submitted for 78 multifamily units over ±5,000 SF of ground-floor commercial. Ready to move into construction drawings and permits. Excellent 123’ frontage, Walk Score 93, Transit Score 56; strong covered-land play with income during planning. Asking $2,995,000 ($243/SF land). Do not disturb tenants.
Investment highlights
Complete Communities Tier 3 Overlay – 6.5 FAR, no parking minimums
Preliminary plans submitted for 78 multifamily units + ±5,000 SF retail
Large parcel: ±12,250 SF with 123’ of frontage on El Cajon Blvd
Covered land play – ±6,752 SF existing retail w/ tenants on month-to-month
Near-shovel-ready – advance directly to construction documents & permits
High-visibility corridor with Walk Score® 93 & Transit Score® 56
Rapidly redeveloping City Heights / Mid-City San Diego location
Listing Contacts
Listed by South Coast Commercial
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$112,783.00
$9,398.58/mo
Valuation Metrics
0
DSCR
3.82%
Cap Rate
3.82%
ROI
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Zoning
CUPD-CU-2-3 PlannedCentral Urbanized Planned District Commercial
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View all 179 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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