10907-10911 Main Street
Retail | 6.09% CAP | 5,000 SqFt
Marketing description
CBRE Investment Properties has been retained by Ownership as the exclusive marketing adviser for 10907-10911 Main Street in El Monte, Los Angeles County, CA (“the Property”). This 100% occupied, ±5,000 SF multi-tenant retail center presents a complimentary mix of retail tenants servicing the needs of the surrounding community. The rent roll features longstanding tenants on short term modified gross leases, offering investors the chance to significantly increase cash flow over time through the conversion to net lease structures. An Owner/User also has the exceptional ability to purchase the property and utilize one of the two spaces currently leased on a month-to-month basis.
Investment highlights
Tremendous Value-Add Investment Opportunity- Investors can significantly boost cash flow over time through restructuring the modified gross, below market leases to net lease structures.
Perfect Owner/User Opportunity- With its strategic Downtown El Monte location, the Property offers a perfect opportunity for an owner/user to occupy one of the two spaces currently leased on a MTM basis.
Easy Access to Main Thoroughfare – The Property features a central Downtown El Monte location and is visible from the heavily traveled Valley Blvd, one of the main east/west thoroghfares running through the San Gabriel Valley, with over 29,624 cars per day at the intersection of Valley Blvd and Tyler Ave.
Below Market Rents – Current rents at the center average just $2.46/SF on a modified gross basis, well below market average for similar retail properties in the trade area.
Extremely Tight Market Fundamentals – Downtown El Monte features a lively mix of family-owned eateries, local shops, boutiques and a hub for community events with historically low vacancy rates. At present, there are no vacancies under 5,000 SF along Main Street, allowing for maximum negotiation leverage at the end of the existing leases.
Infill, Affluent Demographics- Irreplaceably located in the heart of the supply constrained San Gabriel Valley trade area. Densely populated, infill location in historic Downtown El Monte with 218,965 residents having an average household income in excess of $106,848 within three miles.
Proximate to El Monte Metrolink Station - The Property is conveniently located just two blocks from the El Monte Metrolink Station and one block from KB Home’s planned Jade residential development soon to be offering 87 new 3/4 BR townhomes.
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