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.