More retail space is coming to the market in the San Diego metropolitan area. A 9,727 square foot property in Fallbrook that is home to both a gas station as well as several other tenants has recently been placed up for sale for $10.97 million, or about $1,128 per square foot, according to marketing information from Retail Link Associates, which has the listing.
The property, which is located at 936 E Mission Road, was built in 1998 and is home to three buildings including a Shell gas station with 12 pumps. Public records show that the property has been owned for nearly two decades by an entity linked to W A L L Investments LLC.
Other tenants include Soapy Joe’s Express Car Wash, Alive Market, Massage Studio and Auto Registration. The Shell gas station also has an attached Marketplace.
The two largest tenants at the property are Shell and Soapy Joe’s. Shell was founded in 1907 and currently has over 12,780 service stations nationwide, including 1,170 in California alone. Shell was also one of the first vendors to incorporate self-service car washes on their sites, according to the listing.
Soapy Joe’s Express Car Wash has 17 locations in operation currently, with three more currently in development. In general, the car wash industry is valued at $15 billion with two billion cars washed annually.
The property is centrally located in Fallbrook and a short drive from Interstate 15. With its close proximity to downtown Fallbrook, the property is also near a number of shopping and dining amenities.
The site is also surrounded by a significant population with 41,040 living within five miles of the property earning an average household income of $149,399 per year.
