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Prime Downtown Retail Building Sold for $4 Million

Updated: Mar 22, 2023


SAN DIEGO, CA – A prime downtown San Diego retail building spanning approx. 12,405 rentable square feet has recently sold for $4 million. The Seller was represented by Kris Boehmer of Pacific Coast Commercial, and the Buyer was represented by Saad Hallak of EWV Enterprises, Inc. dba Finest City Homes & Loans.


Situated in the heart of downtown San Diego at the southeast intersection of 5th Avenue and Broadway, this property’s location is positioned to benefit from the ongoing transformation into a vibrant, niche urban residential living environment. The surrounding neighborhood is home to an abundance of new apartment buildings, restaurants, entertainment, hospitality, and retail amenities, all within walking distance. It is also around the corner from the 10-block mixed use Horton Plaza redevelopment project underway.


“This was a legacy property held by the Doyle family since the early 1900’s. We are happy to have facilitated this successful exchange for the multi-generational owners who were able to divide their interests amongst their respective families” stated Kris Boehmer, the Seller’s representation. “This transaction highlights the continued strength of the downtown San Diego real estate market. We look forward to seeing how the new ownership is able to capitalize on the second-floor vacancy, possible expansion, and new vision within the thriving Gaslamp District.”


PROPERTY ADDRESS


Address: 501-523 Broadway, San Diego, CA 92101

APN: 533-574-01-00


REPRESENTATION


Seller Representation:

Company Name: Pacific Coast Commercial

Broker Rep: Kris Boehmer


Buyer Representation: EWV Enterprises, Inc. dba Finest City Homes & Loans

Broker Rep: Saad Hallak


SALE DETAILS

Property Type: Retail Building

Square Footage: Approx. 13,045 Square Feet Located on a 5,00 Square Foot Lot

Sale Price: $4,000,000

Seller Name: The 1996 Doyle Family Trust, The Wilson Family Trust and The Cook Revocable Trust

Buyer Name: Shlama W Shayna, LLC

Escrow Company: First American Title Insurance Company, Rebecca Ives and Amanda Brown

Title Company: First American Title Insurance Company, Jill Severens




For more Information Contact:

KRIS BOEHMER

Investment Sales & Leasing

Direct (858) 243-7757

Kris@PacificCoastCommercial.com

Lic. 01890240

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