927 W Main Street, El Cajon, California 92020

$4,900,000

Bedrooms

0

Bathrooms

0

Square Feet

0 sqft

City

El Cajon

Status

Active

The portfolio from the corner of Millar and W. Main Street to just the middle of the block is finally offered for sale for $4,900,000, providing an opportunity to redevelop for the newest mixed-use project in El Cajon. From the City to Seller: "We’re thrilled to announce a major revitalization of downtown El Cajon! The Downtown El Cajon Business Partners have teamed up with New City America – a nationally recognized urban revitalization firm – to re-energize our city’s historic heart. Leading the charge is Marco Li Mandri, the visionary best known for transforming San Diego’s Little Italy into a vibrant destination as well as the Third Avenue Village in Chula Vista. With over 30 years of experience revitalizing communities." The City is inviting Developers to come and bring their MIXED-USE solutions to an area that deeply needs regeneration and life. This is the perfect block to start on. Seller has these four parcels starting with the vacant warehouse on the west corner of Millar Ave and W. Main St, a main thoroughfare into the City from both La Mesa and Santee. A portfolio sale would allow a developer acquire almost an entire block or about 21,000 SF +/-. This area desperately needs a shopping center with grocer, restaurants, small retail and office. The AB 2011 and SB6 allows a developer to expand his project and fulfill the needs of the city with the inclusion of residential or density units. The very low parking requirement sitting in the transit district should allow a developer to maximize their FAR for income producing suites and units. PROPERTY FEATURES - Investment Type: 4-Parcel Sale for Mixed-Use Development - Lot Size: Approx. 21,000 SF - APN: 487-282-27-00, 487-282-28-00, 487-282-29-00, 487-282-31-00 - Zoning: Commercial with Mixed Use Overlay - Sale Price: $4,900,000 PROPERTY HIGHLIGHTS - Location on W Main Street Just Off HWY 8 Ramps - Located in the El Cajon Transit District Specific Plan - City of El Cajon Anxious to Work with Developer to Revamp Industrial Area - Direct Buyers to AB 2011 and SB 6 for Increased Residential Density and Mixed-Use - Located in the El Cajon Transit District Specific Plan, Blocks from Trolley Hub and Bus Line - 173,780 Cars Per Day on Interstate 8 (0.4 Mile Away) with Off Ramps Feeding into this Street at Signal - Chance to Acquire 4 Parcels on W. Main Street first time in more than 40 years 927 W Main Street, El Cajon, CA 92020 Address 925 W Main Street, El Cajon, CA 92020 Address 935 W Main Street, El Cajon, CA 92020 Address 939 W Main Street, El Cajon, CA 92020 Property Type Vacant Land Size Approx. 5,582 SF Lot Property Type LIVE/WORK Office/Retail Size Approx. 1,650 SF on 5,198 SF Lot Property Type Mechanics Shop Size Approx. 1,288 SF on 5,157 SF Lot Property Type Industrial Warehouse Size Approx. 3,800 SF on 5,219 SF Lot This area is primed for redevelopment as part of the “Green Street Gateway” and “Commercial Village.” The parcel is easily accessible and within 2 short blocks of HWY 8 onramps, the major signal at Marshall and Main Street, around the corner from El Cajon's transit hub and Trolley stop known as the El Cajon Transit Center, and in blocks of several major car dealerships including Mossy Nisan, Mercedes and Toyota of El Cajon. The City is looking for revitalization to serve the neighborhoods and the many employees within the immediate area on a daily basis. "The area immediately surrounding the transit station is an aging industrial and heavy commercial area which interfaces with residential neighborhoods comprised of single and multi-family residences. The Planning Area contains a diverse mix of uses but lacks the appropriate infrastructure, public amenities, and commercial services to function as a complete neighborhood that promotes alternative mode of transportation and that is a desirable and attractive place to live, walk, bike, work or shop." Pg. 14. p 2.3 El CAJON TRANSIT DISTRICT SPECIFIC ...