Offering Price
$5,000,000
Property Size
± 14,976 SF Building
±4,260 SF (0.9 Acre) Lot
Actual NOI
$173,110.67 3.46% CAP Rate
Proforma NOI
$218,379.92
4.37% CAP Rate
Property Type
Office Building
Investment / Owner-User or Re-Development
Owner-User Space
+/-3,900 SF (3rd floor)
Available 6/1/2023
+/-3,900 SF (4th floor)
Available 6/1/2023
Can occupy both floors for
+/-7,800 SF
Location Details
This property is ideally located on the south-east end of Little Italy in downtown San Diego. An investor will benefit from the high-density population growth. Many of the current office tenants live and work downtown and the demand for walkable office space is increasing as multi-family projects are being completed in the immediate area. If an investor has a need for their own office space they can benefit from an owner-user opportunity. A future re-development approach will maximize an owner’s return on investment. Potential options include growing revenue with increase rental rates, build up property height, resell or joint-venture with a developer. This rare opportunity is your entry into the downtown and the Little Italy market!
Highlights
Located in Little Italy neighborhood of Downtown San Diego, CA High Visibility on Front Street exit off of Highway 5 South Blocks to:
Social Security Administration
Federal Courthouse
US Immigration Review
San Diego County Administration
• Strong Investment Value for Future Development
• Existing Income with Value-Add Opportunity
• 10.0 - 14.0 FAR Achievable
• Nearby Developments in Planning:
Trammel Crow, 389 Apartment Units , Union & Ash St
Vanderval Hotels, 16-Story Hotel, 5th & Ash St
Paladio / Bosa, 162,000 SF Office, 777 Front St
• Owner-User Space Available
Contact Broker For More Information (619) 469-3600
Kris Boehmer
Investment Sales & Leasing
Direct (858) 243-7757
Lic. 01890240
619.469.3600 | www.PacificCoastCommercial.com | Lic. 01209930
The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning, financials, leases, square footage, permits and use should be verified during due diligence and prior to completing a purchase.
