EXCELLENT NORTH PARK MIXED-USE OPPORTUNITY WITH APARTMENTS OVER RETAIL RYAN KING, CCIM Senior Vice President | Lic #01885401 858.458.3322 | [email protected]KIPP GSTETTENBAUER, CCIM Senior Vice President | Lic #01405420 858.458.3345 | [email protected]Price Reduction! Proforma 7.27% Cap!
12
Embed
EXCELLENT NORTH PARK MIXED-USE OPPORTUNITY WITH … · Dense Urban-infill, North Park mixed-use opportunity with apartments over retail. Rare parking available on site with room for
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
3433-45 University AvenueSan Diego, CA 92104
EXCELLENT NORTH PARK MIXED-USE OPPORTUNITY WITH APARTMENTS OVER RETAIL
RYAN KING, CCIMSenior Vice President | Lic #01885401 858.458.3322 | [email protected]
Dense Urban-infill, North Park mixed-use opportunity with apartments over retail.
Rare parking available on site with room for 11 cars.
Asset has excess real estate behind the building with room to build a nice outdoor area with a barbecue or seating space.
Great corner location 2 blocks from I-805.
4,000 SF RETAIL SPACE
8 UNITS APARTMENTS
1,250 SF AVAILABLE RETAIL SPACE
(SELLER RENT GUARANTEE)
ZERO (0) VACANCY
UNIVERSITY AVENUE
SWIF
T AVE
NU
EON-SITE PARKING
TREMENDOUS UPSIDETremendous upside and the ability to push rents. Largest retail space is vacant and will be guaranteed by Seller at market rental rate for six (6) months. In the event Buyer backfills space before then, Buyer shall benefit from additional added income.
REINVESTMENT OPPORTUNITYPerfect Opportunity Zone Property with ability to reinvest into the asset.
UNPARALLELED LOCATIONGreat location in North Park on University adjacent to I-805. Total population in 5-miles is over 600,000 people.
PROPERTY IMPROVEMENT POTENTIALAbility to continue to improve property with new exterior look, potential barbecue area and other amenities.
INVESTMENT HIGHLIGHTS
$2,995,000 ASKING PRICE
8,000 SFBUILDING SIZE
6.61%IN-PLACE CAP RATE
7.27%PROFORMA
RETAIL RENT ROLL
ADDRESS TENANT ACTUAL RENT MARKET EXPIRATION SF SCHEDULE & NOTES