Fully Leased Monterey Peninsula NNN Strip Center

INVESTMENT OVERVIEW

Essential CRE is pleased to present the opportunity to purchase Pacific Heights Plaza located at 1153-1173 Fremont Boulevard in Seaside, CA. The subject property is a two building, 14,403 square foot 100% leased NNN strip center situated on 2.2 acres of land and was constructed in 1963. Pacific Heights Plaza benefits from excellent high-visibility exposure and access from Fremont Boulevard and features a synergistic mix of daily needs and specialty needs tenants including national tenants, H&R Block and Labcorp. Local tenants include Sushi Time, Lillikoi Boba Café, Lee's Liquor and Video, New Image Dental, Seaside Cleaners, Dina Vera Beauty Salon, Jack's Nail Salon, Sun Spa Foot Reflexology and Gonzalez & Associates Insurance Services. Pacific Heights Plaza provides a savvy investor with the opportunity to acquire a stabilized leased asset in a high demand submarket with limited retail supply due to significant geographic boundaries to enter the market and limited supply.

INVESTMENT HIGHLIGHTS

Fully Leased NNN Strip Center in Thriving Monterey Peninsula Submarket - Seaside, CA
Synergistic Mix of National and Local Tenants Serving Both Daily and Specialty Needs
Long Term Occupancy History; Defendable In-Place Rents with Annual Increases
Significant Geographic Boundaries to Enter Coastal Market with Limited Supply

MARKET OVERVIEW

Seaside, California, is a coastal city situated on the Monterey Peninsula, approximately 115 miles south of San Francisco. Established in 1887 and incorporated in 1954, Seaside spans about 9 square miles and offers a variety of attractions and activities for visitors. Located along the southern edge of Monterey Bay, Seaside is bordered by Marina to the north, Sand City to the west, Monterey to the southwest, and Del Rey Oaks to the south. The city enjoys a temperate Mediterranean climate, characterized by cool, wet winters and warm, dry summers. Seaside is accessible via California State Route 1, which runs along its western border. The city is served by the Monterey Peninsula Airport, located approximately 5 miles to the south, providing regional air travel options. Seaside boasts a diverse community with a rich history. The city offers a variety of accommodations, dining options, and cultural experiences, making it a welcoming destination for visitors. Seaside has a variety of small businesses, particularly in retail, food, and services. This includes locally-owned shops, restaurants, and cafes catering to residents and tourists alike. The city has a growing commercial sector, with new shopping areas and business developments offering services to both locals and visitors.
Seaside’s economy has long been influenced by its proximity to military bases, such as the former Fort Ord. Although the fort was closed in the early 1990s, its land was repurposed for commercial development, education, and recreation, including CSUMB. California State University, Monterey Bay (CSUMB), located in Seaside, is a major economic driver. The university attracts students, faculty, and staff to the area, contributing to local spending in housing, dining, and services. The presence of other educational institutions, including the Monterey College of Law, adds to the city’s economy. Tourism is a major contributor to Seaside’s economy, as the city is located near popular attractions like the Monterey Bay Aquarium, Carmel-by-the-Sea, and the scenic coastline. Visitors come for outdoor activities, nature reserves, golf courses, and historical sites. The real estate market in Seaside has seen growth, partly due to its proximity to Monterey, where housing prices are much higher. Seaside offers more affordable housing options, attracting residents working in nearby cities and the surrounding region. The city has experienced residential development, with new neighborhoods and businesses springing up, especially near areas once occupied by Fort Ord.