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Listed by LEE SPENCE • DAUM COMMERCIAL RE SERVICES
$ 3,550,000
Est. payment | /mo
11,000 SqFt
$ 3,550,000
Est. payment | /mo
11,000 SqFt
Key Details
Property Type Multi-Family
Sub Type OTHER
Listing Status Pending
Purchase Type For Sale
Square Footage 11,000 sqft
Price per Sqft $322
MLS Listing ID CRIV25235623
HOA Y/N No
Year Built 1940
Lot Size 2.300 Acres
Property Sub-Type OTHER
Source Datashare California Regional
Property Description
This offering consists of five contiguous parcels located at the signalized southwest corner of E. El Norte Parkway and N. Midway Drive in Escondido, California. Together, the parcels total approximately 2.3 acres and include: • Three single-family homes • A 6,335 sq. ft. market/liquor store • A 0.36-acre parcel of vacant land The properties are situated within the Commercial Neighborhood (CN) zoning district. The existing residential units are classified by the City as legal, non-conforming uses, meaning new residential construction would require a zone change. The four rented units currently generate approximately $14,700 per month in gross income, providing strong interim cash flow. This site occupies a unique position as a standalone commercial enclave surrounded by residential neighborhoods, giving it a near-monopoly advantage for local retail and service businesses within the immediate trade area. Additionally, the vacant parcel offers future development potential, and the scarcity of commercial zoning in this area positions the property for strong long-term appreciation
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Other
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Adam Shoop
Broker Associate at LPT Realty | Lic# 1782227