Listed by Hanley Investment Group
$26,360,000
Albertsons Shadow-Anchored Center at Lemon Grove Plaza
Details
Property Type Retail
Square Footage 86,742
Net Rentable (SqFt) 86,742
Cap Rate 6.40%
NOI $1,687,190
Occupancy 95%
Tenancy Multi
Brand/Tenant CVS Pharmacy, Verizon Wireless
Lease Type NNN
Year Built 1989
Acreage 5.920
Ground Lease No
Top 2% Most Trafficked Center in California (Placer.ai) | 85% National/Regional Tenants
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/LemonGrove_CA
Investment highlights
- Shadow-Anchored by Albertsons (NYSE: ACI); Dominant Neighborhood Center:
- Lemon Grove location is in the Top 10% Grocery Category Nationwide per Placer.ai
- Lemon Grove Plaza ranks in the Top 2% in California for the Neighborhood Center category; 5 million annual visitors (Placer.ai)
- Albertsons owns its own parcel; recently invested significant capital
- Anchored by CVS/pharmacy, Daiso, BioLife Plasma, Petco, and Family Health Centers; 85% National and Credit Tenants
- Long-Term Weighted-Average Tenant Operating History of 13+ Years Reflects Proven Success and Minimal Turnover Risk: Long-term tenants include CVS/ pharmacy (32 years), Wells Fargo (18 years), Elite Buffet (17 years), Petco (14 years), Family Health Centers (12 years), Massage Envy (11 years), and Peacock Nails (8 years)
- Contractual Rent Growth and Inflation Hedging: 2.46% CAGR and 27% NOI growth over the 10-year hold period
- Premier Hard-Corner Trade Area: 84,000 CPD at the Signalized Intersection of Broadway and Massachusetts Avenue State Route 94 (156,000 CPD)
- Proximity to San Diego State University; 41,184 Students
- Densely Populated and Affluent San Diego Submarket: 547,000 residents with a $118,000 average household income within a 5-mile radius; daytime population of 430,000 provides a strong workday consumer base
- Located in the San Diego–Chula Vista–Carlsbad MSA: 17th-largest MSA in the United States with 3.28 million residents
Listing Contacts
Listed by Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,687,190.00
$140,599.17/mo
Valuation Metrics
0
DSCR
6.4%
Cap Rate
6.4%
ROI
Map
Zoning
GC CommercialGeneral CommercialGeneral Commercial
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View all 69 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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