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2002-2004 University Avenue, San Diego, CA 92104

Opportunity

For Sale - Owner/User or Investment

Owner-User

± 1,000 - 2,538 Sq. Ft.

APN

445-672-140-00

Zoning

CN-1-5 (Commercial Neighborhood)

Allows 1 DU/600/SF (View Link)

Complete Communities

Tier 3 - 6.5 FAR Bonus

(View Link)

Building Size

± 6,288 Sq. Ft. Mixed-Use Building

Lot Size

± 7,497 Sq. Ft.

Seller Carry Back

65% / 70% LTV

Opportunity Zone

QOZ (North Park Opportunity Zone)

(View Link)

Pricing

Sales Price: $2,695,000

Cap Rate: 6.10% Proforma

Pacific Coast Commercial is pleased to present this mixed-use commercial building with income located in central San Diego between two exclusive communities, North Park and Hillcrest. It provides an opportunity for a creative office or retail business to occupy up to 2,538 SF of the building with additional income to offset it’s expenses and longer term redevelopment upside. An investor has the potential to capture a 6.1% cap rate through lease up or residential conversion.

 

Both of these San Diego communities cater to a locals and tourist crowd and streets are lined with coffee shops, boutiques, art galleries, diverse restaurants and craft beer pubs.

This colorful unique building was painted by world renowned graffiti legend and contemporary artist Kelly “RISK” Graval, (www.riskrock.com), who’s work has been shown in top galleries in LA, San Francisco, Toronto, New York, Miami and London.

HIGHLIGHTS

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Highly Desirable & Prominent Location

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Unique & Easily Identifiable Building with High Traffic Volume

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Recent Exterior & Interior Improvements

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Very Walkable Location with Nearby Transit

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Easy Access to I-805 & Hwy 63

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Surrounded by Numerous Amenities & Attractions

 
 

AMENITIES

 
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LOCATION

 
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North Park is a neighborhood in San Diego, California, United States, as well as a larger "community" as defined by the City of San Diego for planning purposes. Northeast of downtown and bordering Balboa Park, you’ll find the diverse and eclectic uptown neighborhoods of North Park.

 

Catering to a local crowd, Hipsters, young professionals and students hang out in trendy North Park, where streets are lined with coffee shops, craft-beer bars, boutiques, art galleries, and diverse restaurants.

2 MINUTES

Balboa Park

12 MINUTES

Gaslamp District

90,925 EMPLOYEES

Within 2 Mile Radius

11,715 BUSINESSES

Within 2 Mile Radius

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Tommas Golia

Associate Vice President

Tommas@PacificCoastCommercial.com

(858) 598-2891

Lic. 01890744

Jason Vieira

Senior Advisor - Sales & Leasing

Jason@PacificCoastCommercial.com

(858) 300-0375

Lic. 01896589

 

Colton Speas

Sales & Leasing Associate

Colton@PacificCoastCommercial.com

(858) 598-2873

Lic. 02062812

PRIVATE INVESTMENT TEAM

OFFICE (619) 469-3600

10721 Treena St., Suite 200, San Diego, CA 92131

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 or lease.