$4,400,000.00

For Sale | Leased Retail Investment Opportunity | Watsonville, CA

Mahoney & Associates is pleased to present the leased retail investment opportunity known as the Discount Mall, located in the heart of historic downtown Watsonville. The subject property is approximately 30,800+/- sq. ft. indoor flea market with +/- 55 off-street parking spaces. Master leased to the same tenant since 1993, the operator then subleases the approximately 27 interior spaces to individual vendors.

In October of 2014, a 14.5-year lease was signed, with rent increases of 5% every 5 years. The next scheduled rent increase is to occur on March 1, 2024. The rent will increase to $29,484 per month. The tenant pays for all utilities and is responsible for interior maintenance. The property taxes, the building roof, structure, parking lot, and insurance are the responsibility of the owner. The subject property is situated on 3 adjacent parcels, two of which provide the approximately 55 off-street parking spaces.

Details

Price : $4,400,000.00
Address : 335, 343, 347 Rodriguez St.
City : Watsonville
State : CA
Zip Code : 95076
APN : 017-101-41 | 017-101-42 | 017-101-16
Latitude : 36.90894249999999
Longitude : -121.758273
Property Type : Investment
Secondary Type : Retail
Purpose : Sell
Building Size : +/- 30,800 SF
Lot Size : +/- 57,891 SF (3 parcels)
Zoning : Central Commercial Core Area
Property ID : 3228

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James Kendall
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