Shopping Community

Mammoth Main St Promenade

3343 & 3399 Main St, Mammoth Lakes, CA 93546

Listing Price: $10,000,000

Cap Rate
6.14%
Lot Size
1.00 acres

Investment Overview

Marcus and Millichap (M&M) is pleased to present the rare opportunity to acquire the fee simple interest in Main Street Promenade (the Property), a 43,220 square foot shopping center that is ideally situated in the heart of Downtown Mammoth Lakes on Main Street. The Property is currently 91 percent leased and boasts a diverse and highly synergistic tenant mix that caters to local residents, as well as the 2.5 million visitors per year that vacation in Mammoth Lakes to enjoy skiing, snowboarding, fishing, mountain biking, camping and more. Main Street Promenade benefits from excellent access and prominent exposure near the busy intersection of Main Street and Old Mammoth Road (24,078 combined vpd). The Property also has a deep parking field in front of the property giving optimal circulation within the center, and not common for properties along Main Street. The lack of developable land sites and stringent development standards within the submarket will continue to limit the potential for future competition in an already tight retail market with 3.2 percent vacancy.

Investment Highlights

  • Impressive Fundamentals with Built-In Demand Generators
  • Prominent Visibility and Access with Strong Barriers to Entry
  • Highly Accretive Assumable Financing
  • Diverse, Internet Resistant Tenant Mix
  • Below Replacement Cost Opportunity
  • California's Premier Year-Round Vacation Destination

Exclusively Listed By

Shopping Community

Mammoth Main St Promenade

Listing Price: $10,000,000

Cap Rate
6.14%
Lot Size
1.00 acres

Investment Highlights

  • Impressive Fundamentals with Built-In Demand Generators
  • Prominent Visibility and Access with Strong Barriers to Entry
  • Highly Accretive Assumable Financing
  • Diverse, Internet Resistant Tenant Mix
  • Below Replacement Cost Opportunity
  • California's Premier Year-Round Vacation Destination

Investment Overview

Marcus and Millichap (M&M) is pleased to present the rare opportunity to acquire the fee simple interest in Main Street Promenade (the Property), a 43,220 square foot shopping center that is ideally situated in the heart of Downtown Mammoth Lakes on Main Street. The Property is currently 91 percent leased and boasts a diverse and highly synergistic tenant mix that caters to local residents, as well as the 2.5 million visitors per year that vacation in Mammoth Lakes to enjoy skiing, snowboarding, fishing, mountain biking, camping and more. Main Street Promenade benefits from excellent access and prominent exposure near the busy intersection of Main Street and Old Mammoth Road (24,078 combined vpd). The Property also has a deep parking field in front of the property giving optimal circulation within the center, and not common for properties along Main Street. The lack of developable land sites and stringent development standards within the submarket will continue to limit the potential for future competition in an already tight retail market with 3.2 percent vacancy.

Exclusively Listed By

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