NOW ON MARKET! Downtown Office Building- Investment / Owner-User / Re-Development


DOWNLOAD MARKETING BROCHURE


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

Kris@PacificCoastCommercial.com

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.