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790 N Johnson Ave 9,051 SF 100% Leased Retail Building El Cajon, CA 92020 $3,995,000 ($441.39/SF) 5.07% Cap Rate
Investment Highlights
- Fully leased two-tenant retail property with national credit tenants.
- Prime location across from a regional mall in East County San Diego.
- Strong parking ratio with 33 dedicated spaces for customer convenience.
- Long-term NNN leases providing stable income and minimal management.
- Excellent visibility and access near Interstate 8 and State Route 67.
- Attractive investment with a 5.07% cap rate and future rent escalations.
Executive Summary
This fully leased, two-tenant retail property at 790 N Johnson Avenue in El Cajon, CA, presents an exceptional investment opportunity in a high-traffic retail corridor. The 9,051-square-foot building sits on a 34,400-square-foot lot and is 100% occupied by two strong national credit tenants: Tire Choice Auto Service Center and 5.11 Tactical. Both tenants operate under long-term NNN leases, providing stable income and minimal landlord responsibilities.
Tire Choice, backed by Monro (NasdaqGS: MNRO), occupies 4,424 SF with a lease expiring in November 2026 and an annual NNN income of $86,784. 5.11 Tactical, owned by Compass Diversified Holdings (NYSE: CODI), occupies 4,627 SF with a lease extending through January 2033, generating $115,675 annually. Combined, the property delivers an annual NNN income of $202,459 and a cap rate of 5.07%.
Strategically located across from a major regional mall in East County San Diego, the property benefits from excellent visibility, strong traffic counts, and proximity to Interstate 8 and State Route 67. With a competitive parking ratio of 3.65 spaces per 1,000 SF and options for future rent escalations, this asset offers long-term stability and growth potential in a thriving retail market.
Tire Choice, backed by Monro (NasdaqGS: MNRO), occupies 4,424 SF with a lease expiring in November 2026 and an annual NNN income of $86,784. 5.11 Tactical, owned by Compass Diversified Holdings (NYSE: CODI), occupies 4,627 SF with a lease extending through January 2033, generating $115,675 annually. Combined, the property delivers an annual NNN income of $202,459 and a cap rate of 5.07%.
Strategically located across from a major regional mall in East County San Diego, the property benefits from excellent visibility, strong traffic counts, and proximity to Interstate 8 and State Route 67. With a competitive parking ratio of 3.65 spaces per 1,000 SF and options for future rent escalations, this asset offers long-term stability and growth potential in a thriving retail market.
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- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,051 SF
Building Class
C
Year Built/Renovated
1975/2022
Price
$3,995,000
Price Per SF
$441.39
Cap Rate
5.07%
NOI
$202,473
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.79 AC
Zoning
CR - The C-R zone is intended to accommodate community and regional commercial centers and governmental facilities.
Parking
33 Spaces (3.65 Spaces per 1,000 SF Leased)
Frontage
107’ on Johnson Ave
Amenities
- Pylon Sign
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 482-240-30 | Improvements Assessment | $1,621,036 |
| Land Assessment | $134,519 | Total Assessment | $1,755,555 |
Property Taxes
Parcel Number
482-240-30
Land Assessment
$134,519
Improvements Assessment
$1,621,036
Total Assessment
$1,755,555
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790 N Johnson Ave
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