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7328-7344 Broadway 4,840 SF 100% Leased Retail Building Lemon Grove, CA 91945 $1,850,000 ($382.23/SF) 7.30% Cap Rate
Executive Summary
This offering features a fully leased retail strip center along Lemon Grove’s primary commercial corridor, providing a rare investment opportunity in Southern California. The property comprises ±4,840 square feet of inline retail space with a strong tenant mix, including established local businesses such as a smoke shop, phone repair, bar, audio shop, and barber. Long-term stability is evident, with tenants recently exercising renewal options and average tenancy dating back over a decade.
Positioned on Broadway, a highly trafficked arterial with approximately 24,413 vehicles per day, the asset benefits from maximum visibility and easy ingress/egress. It is conveniently located just 0.3 miles from the SR-94 freeway, ensuring connectivity to downtown San Diego and key surrounding neighborhoods. Zoned G-C, the site supports a variety of retail and medical uses, enhancing its future adaptability. With consistent cash flow, a 7.3% cap rate, and limited vacancies since 2007, this property is a dependable addition to any portfolio.
Positioned on Broadway, a highly trafficked arterial with approximately 24,413 vehicles per day, the asset benefits from maximum visibility and easy ingress/egress. It is conveniently located just 0.3 miles from the SR-94 freeway, ensuring connectivity to downtown San Diego and key surrounding neighborhoods. Zoned G-C, the site supports a variety of retail and medical uses, enhancing its future adaptability. With consistent cash flow, a 7.3% cap rate, and limited vacancies since 2007, this property is a dependable addition to any portfolio.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,840 SF
Building Class
C
Year Built
1974
Price
$1,850,000
Price Per SF
$382.23
Cap Rate
7.30%
NOI
$134,993
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.30 AC
Zoning
C
Parking
25 Spaces (5.59 Spaces per 1,000 SF Leased)
Frontage
67’ on Broadway
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $454,078 | |
| Land Assessment | $378,849 | Total Assessment | $832,927 |
Property Taxes
Parcel Numbers
Land Assessment
$378,849
Improvements Assessment
$454,078
Total Assessment
$832,927
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7328-7344 Broadway
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