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808-816 E Main St 18,000 SF 94% Leased Retail Building Alhambra, CA 91801 $7,990,000 ($443.89/SF) 6.57% Cap Rate
Investment Highlights
- Currently occupied by CVS and American Continental Bank
- Over 300 linear feet of frontage along Main Street
- 28,000+ Cars Per Day along Main Street
- The City of Alhambra is a suburb of Los Angeles County with a population of 82,295
- The subject property spans 1.81 Net Acres with a combined 18,000 square feet of improvements
- 49-unit residential complex under development across the street at 801 E. Main Street
Executive Summary
The City of Alhambra is located in the San Gabriel Valley and is a suburb of Los Angeles County with a population of 82,295. It is known as the “Gateway to the San Gabriel Valley”. Home to a diverse array of businesses, restaurants, neighborhoods, and residents. Known as one of the best places to live in California, many young professionals find comfort in Alhambra as it offers residents an urban suburban mix feel.
The property consists of two (2) free standing retail buildings (12,000 S.F. and 6,000 S.F.) with 1,000 square feet of vacant space in the 6,000 square foot building. The subject property benefits from over 300 linear feet of frontage along Main Street with 28,000+ Cars Per Day along Main Street.
The ownership type is structured as a Ground Lease of the 12,000 square foot structure currently occupied with a CVS Corporation Guaranty and a Fee Simple of the 6,000 square foot structure with 5,000 square feet occupied by American Continental Bank.
The property consists of two (2) free standing retail buildings (12,000 S.F. and 6,000 S.F.) with 1,000 square feet of vacant space in the 6,000 square foot building. The subject property benefits from over 300 linear feet of frontage along Main Street with 28,000+ Cars Per Day along Main Street.
The ownership type is structured as a Ground Lease of the 12,000 square foot structure currently occupied with a CVS Corporation Guaranty and a Fee Simple of the 6,000 square foot structure with 5,000 square feet occupied by American Continental Bank.
Property Facts Under Contract
Sale Type
Investment
Property Type
Building Size
18,000 SF
Building Class
B
Year Built
2003
Price
$7,990,000
Price Per SF
$443.89
Cap Rate
6.57%
NOI
$524,900
Percent Leased
94%
Building Height
1 Story
Building FAR
0.23
Lot Size
1.81 AC
Zoning
GC - General Commercial ; EMC, East Main Commercial
Parking
101 Spaces (5.61 Spaces per 1,000 SF Leased)
Frontage
300’ on East Main Street
Amenities
- Banking
- Corner Lot
- Pylon Sign
- Signage
- Drive Thru
- Monument Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- American Continental Bank
- Retailer
- 5,000 SF
- -
- Sep 2027
-
- Retailer
- 12,000 SF
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| American Continental Bank | Retailer | 5,000 SF | - | Sep 2027 | ||
|
|
Retailer | 12,000 SF | - | - |
Walk Score®
Very Walkable (81)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $970,705 | |
| Land Assessment | $4,201,074 | Total Assessment | $5,171,779 |
Property Taxes
Parcel Numbers
Land Assessment
$4,201,074
Improvements Assessment
$970,705
Total Assessment
$5,171,779
Contact
-
Kenny Woods - Kenny Woods
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808-816 E Main St
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