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2027-2037 Durfee Ave
South El Monte, CA 91733
Durfee Plaza · Retail Property For Sale
Investment Highlights
- Current in place rent average $1.35 p/SF modified gross, significantly below current market rate for similar assets in the trade area.
- At the current list price the property is being offered for sale below replacement cost
- Most leases are gross month-to-month (except Dollar Tree and Wen's Doughnuts), offering the new owner a chance to reposition the property.
- Retail corridor in the trade area and home to a dynamic mix tenants that include Superior Grocers, CVS, Habit Burger, Panda Express, Autozone etc.
Executive Summary
CBRE, Inc. is pleased to present 2027-2037 Durfee Avenue, a rare value-add multi-tenant shopping center, located at one of the busiest intersections in the city of South El Monte. The shopping center is located at the intersection of Durfee Avenue (29,200 CPD) and Peck Road (12,400 CPD) with other retailers at the intersection that include Superior Grocers, CVS, Habit Burger, Panda Express, Autozone, Jack in the Box, Starbucks, and many others. The property is anchored by Dollar Tree and includes six (6) local retail tenants with all (except Wen’s Donuts) operating on gross, month-to-month leases. With average in-place rents at the subject property of just $1.35/SF modified gross, the rents are significantly below market for similar properties in the immediate trade area. A new owner will have the opportunity to purchase the subject property well below replacement cost, and either redevelop the property in the future, or reposition the existing asset, and substantially increase rents as the current leases expire.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
27,556 SF
Building Class
C
Year Built
1963
Price
$6,700,000
Price Per SF
$243.14
Cap Rate
6.22%
NOI
$416,774
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
2.31 AC
Zoning
C
Parking
130 Spaces (4.72 Spaces per 1,000 SF Leased)
Frontage
225’ on Durfee Ave
Amenities
- Monument Signage
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,178,688 | |
| Land Assessment | $3,350,110 | Total Assessment | $5,528,798 |
Property Taxes
Parcel Numbers
Land Assessment
$3,350,110
Improvements Assessment
$2,178,688
Total Assessment
$5,528,798
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