1217 San Elijo Rd S, San Marcos, CA 92078

Newmark Pacific presents Parkview, a newly constructed, two-story retail asset totaling 7,850 square feet on 0.73 acres, delivered in 2022 and currently 100% leased to three complementary, service oriented tenants: a veterinarian, a dance company, and a chiropractor. The property is strategically positioned within the affluent, master-planned community of San Elijo Hills in San Marcos, California-steps from San Elijo Hills Town Center, Marketwalk, Albertsons, and surrounded by community anchors including San Elijo Park, the San Elijo Fountain, San Elijo Middle School and San Elijo Elementary School.

Construction of the San Elijo Hills community began in the early 2000s and was designed to provide a captive, all-encompassing experience for the residents. The community is home to more than 3,500 homes as well as three of the largest schools in the entire school district as growth has been robust. The affluence of San Elijo is significant as average household incomes exceed $235,000 per year while the average price of a home is $1,395,424.

The asset's modern construction, fully stabilized rent roll, and highly visible, walkable location within an affluent, supply constrained master-planned community create a defensive income profile with potential for long-term rent growth. Medical and instructional/service-based tenants benefit from entrenched, in-person demand, while proximity to community amenities and schools ensures steady customer inflow throughout the week.

Deal Page: https://platform.reverecre.com/project/64c73820-7bac-4239-a61c-1734220ef13f