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$1,600,000
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UPDATED:
01/09/2025 01:56 AM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2500180
HOA Y/N No
Year Built 1952
Property Description
PRIME VALUE-ADD RETAIL CENTER IN DOWNTOWN ESCONDIDO REVITALIZATION ZONE | Discover an exceptional investment opportunity at The Patio Shops, a fully occupied 5,330 SF retail center strategically located in Downtown Escondido's $15M Grand Avenue Vision Project Zone. This thriving property delivers immediate cash flow while presenting a clear path to increased income and value with current rents averaging $1.57/SF/month—36.4% below the market average of $2.47/SF/month. Positioned at the heart of the Grand Avenue revitalization, this asset stands to benefit directly from extensive streetscape improvements, widened sidewalks, expanded outdoor dining areas, and enhanced pedestrian zones, all driving foot traffic and boosting retail demand. The Patio Shops is surrounded by transformational projects, including the 625 E. Grand Ave Luxury Condos, which are drawing higher-income residents to the area and further fueling demand for premium retail spaces. The property's 12 established tenants, spanning boutique retail and service sectors, provide stable in-place cash flow while offering substantial upside potential through strategic rent realignment and tenant optimization. Comparable properties within the revitalization zone are achieving rents as high as $2.65/SF/month, highlighting the opportunity to capture market growth and elevate NOI. This is more than just a property—it's a chance to own a pivotal piece of Escondido's transformation, with a unique combination of below-market rents, high-demand location, and strong market fundamentals. Don't miss this rare value-add opportunity to secure both immediate returns and long-term appreciation. Contact us today to schedule a private tour! Call or Text Richard and Diane Eisendrath at 760-815-8009. NOTE: All information is deemed reliable but not guaranteed by Sellers or their Agents. The Buyers, their Agent's should independently verify all information provided herein. The broker and seller assume no responsibility for errors or omissions.
Location
State CA
County San Diego
Area 92026 - Escondido
Zoning Commercial
Interior
Fireplace No
Exterior
Utilities Available Electricity Connected
Building
Lot Description Zero Lot Line
Story 1
Others
Tax ID 2294311900
Acceptable Financing Cash, Cash to New Loan, Conventional, Government Loan
Listing Terms Cash, Cash to New Loan, Conventional, Government Loan
Special Listing Condition Standard
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Listed by Richard Eisendrath • Premiere Real Estate • richard@eisendrathteam.com