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Lucky Plaza
351 Wake Avenue, El Centro, CA 92243
BRAND NEW CONSTRUCTION
Last Verified 4/23/2012
Listing ID 15831538
Highlights
BANK OWNED REO ASSET - PRICE REDUCED- BRAND NEW CONSTRUCTION IN 2008
- TREMENDOUS UPSIDE IN LEASING VACANT SUITES
- HOME DEPOT & LUCKY SUPERMARKET SHADOW ANCHORS
- LOCATED IN DYNAMIC AND GROWING AREA OF EL CENTRO
Description
BANK OWNED REO OPPORTUNITY - PRICE REDUCED
The Lucky Plaza is an approximately 10,681 sf brand-new construction, strip retail building situated directly adjacent to a newly remodeled Lucky Supermarket (part of the SUPERVALU chain of stores) and across from a Home Depot.
The property, which just went back to the lender as an REO, presents an excellent value-added opportunity in the lease-up of the remaining vacancies, with a proforma cash on cash of over 20% with seller financing.
The Lucky Plaza is ideally located along Highway 86 (S. 4th Street) on the south side of the Interstate 8 interchange. This area of El Centro has experienced a tremendous amount of development with several new restaurants and hotels along with the new Desert Auto Plaza (GMC, Cadillac, Honda, VW, Dodge, Chrysler, Hyundai, and others). Home Depot is directly across from the subject property and Holiday Inn, Comfort Inn, In-N-Out Burger, IHOP, and Taco Bell are all in the immediate area.
The center is also located contiguous with an Imperial County office campus consisting of 6 building on over 14 acres that provides a large draw and high day-time population to the area. The Imperial Valley Mall and surrounding power centers are located just 1 mile to the east.
El Centro, the Imperial County seat, was recently named the #15 Hottest Small City in America for business by Inc. Magazine. The city is home to many governmental entities
and is considered the commercial center for the Imperial Valley.
Map of 351 Wake Avenue, El Centro, CA 92243 (Imperial County)
Created 8/1/2008
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Additional Information for 351 Wake Avenue, El Centro, CA 92243
View the Property Record for this address to access additional information such as historical listings, property details, tax details, owners, mortgages, tenants, and more.
Asking Price Index Trends for El Centro, CA Retail For Sale
| |
Mar 12 |
vs. 3 mo.
prior |
Y-O-Y |
- State | $200 | -1.1% | -4.3% |
View El Centro Market Trends for other property types for sale or lease. Learn more about the chart info.
The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P