Investment Overview

The Totah Group of Marcus & Millichap has been retained by ownership to exclusively market for sale a 22,340 square foot multi-tenant retail property at 1511-1529 East Valley Parkway. The property is located within the Vineyard Square shopping center in Escondido, CA. Adjacent to a high-performing Albertson’s (NAP), Home Depot (NAP) and Walmart (NAP) with a synergistic mix of local and national tenants, Vineyard Square is a rare and compelling investment opportunity. The asset is strategically located along East Valley Parkway, one of the main thoroughfares through Escondido that sees approximately 26,000 cars per day. Vineyard Square is a 100% leased turn-key asset with robust in-place cash flow, consisting of eight tenants and additional income from a cell tower. The tenants at Vineyard Square sell perishable food and beverage items and provide services that are not conducive to ecommerce, demonstrating internet and recession resistance. Due to embedded rental increases, the NOI will increase to $628,806 by December 2023, representing a 6.76% CAP rate, with additional opportunity to increase below market rents and lease structures. Investors can continue down the path of Vineyard Square’s long-term success through investing capital into the center to improve the overall attractiveness of the center and rents in a very dynamic retail trade area and submarket that continues to improve. Adjacent to Walmart, Albertsons, Home Depot, Starbucks, McDonald’s and many more national brands exemplifies the strength in location and drives in daily foot traffic supporting each business within and around Vineyard Square, which is one of the dominant grocery anchored neighborhood centers in Escondido.