Galleria Plaza | Supermarket-Anchored Retail | $13,000,000 | 6.07% Cap

Alta Tera Properties is pleased to present Galleria Plaza, a ±31,763-square-foot, supermarket-anchored retail center on ±1.88 acres at the signalized corner of Plaza Boulevard and Euclid Avenue in National City. Anchored by a freestanding Island Pacific Supermarket, the center is ±94.0% leased by area to a diversified roster of daily-needs, food, service and professional tenants, many in place for a decade or more.

Storefront leases are triple-net with fixed annual increases, producing in-place net operating income of $788,469 — a 6.07% cap rate at the $13,000,000 asking price ($409/SF).

INVESTMENT HIGHLIGHTS

◆  Supermarket-anchored by Island Pacific Supermarket (±8,192 SF, freestanding)

◆  ±94.0% leased by area — 24 of 27 suites, diversified daily-needs tenancy

◆  Triple-net storefront leases with fixed 3%–4% annual increases

◆  Signalized corner of Plaza Blvd & Euclid Ave — ±21,343 VPD; I-805 interchange 0.3 mi west

◆  ±508,000 residents and 130,750 daytime employees within 5 miles

◆  Immediate upside through lease-up of current vacancies