Colliers’ Retail Capital Markets Team is pleased to present for sale, Ramona Station, a Kmart anchored neighborhood center, centrally located within the city of Ramona’s main retail corridor in San Diego County, California. The offering provides a tremendous and unique opportunity for investors to acquire a value-add retail center with in-place cash flow, and significant redevelopment upside potential in San Diego County.
Extremely rare San Diego County value-add opportunity.
Coveted landlord right to recapture and redevelop up to 50% of the Kmart space.
Upside in leasing up the five vacant units totaling 5,812 square feet.
Attractive in-place cash flow for a value-add investment.
The center is strategically located on Main Street Ramona, one of the busiest retail corridors in East San Diego County.
Desirable demographic profile with average household incomes exceeding $110,000 annually.
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Cap Rate: 7.14%
Building Size: 37,160 sqft
Lot Area: 4.01 sqft
Year Built: 1992
Price Per Sqft: $215
Zoning: C-2 General Commercial
Gross Leaseable Area: 37160
Investment Strategy: Value Add