SAN DIEGO, CA (Oct. 29, 2020) — An El Cajon retail center with a huge monument sign and plenty of parking in a federal tax-advantaged Opportunity Zone was listed for $6.5 million by Commercial Asset Advisors. The property at 1242-1248 E. Main Street is on a busy location near 2nd Street within the dense retail corridor of El Cajon, with approximately 25,000 cars per day driving by the site, according to SANDAG. The 1.91-acre site was built in 1989 and established co-tenants generate traffic to the center, which boasts an excellent parking ratio of over 5.5 spaces per 1,000 square feet.
Opportunity Zones (OZ) offer a major tax incentive to invest capital gains from non-real estate activities into real estate. The OZ investor can potentially delay and reduce capital gains taxes which would otherwise be due in the current tax period. Potential opportunities include:
Potential discount on capital gains invested in the OZ property expires 12/31/2021.
Potential deferral of capital gains taxes.
Potential permanent exemption from federal capital gains taxes on the new OZ Investment, if the guidelines are followed.
The Federal Opportunity Zone Program was created to encourage the immediate improvement of designated lower-income regions. For information, please visit the official IRS website: https://www.irs.gov/credits-deductions/opportunity-zones-frequently-asked-questions
This property provides an owner/operator a fantastic opportunity to relocate their business to take advantage of historically low interest rates, on top of the Opportunity Zone tax advantages.
Interested parties may contact Mike Conger, CAA Principal (DRE Lic. # 01381193), at mike@caacre.com or Brian Jenkins, CAA Principal (DRE Lic. # 01814828), at brian@caacre.com.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.