1146-1148 Garnet Ave - Storefront Retail/Residential FOR SALE


San Diego, CA 92109
$2,350,000 USD
858-717-1697
1146-1148 Garnet Ave, San Diego, CA for Sale
$2,350,000 USD
Storefront Retail/Residential - FOR SALE
1/27
null | 5% Cap Rate

1146-1148 Garnet Ave
San Diego, CA 92109


HIGHLIGHTS

  • One Vacant Restaurant, One Vacant Retail/Office, One Detached 4 Bed/3Bath Unit
  • House Generates $125k to $144k Annually
  • CAP Rate 5% Using Long Term Rental Income from Residential Unit
  • House Has Roof Top Balcony with Views of SeaWorld Fireworks, Partial Bay
  • Mixed-Use Investment or Owner-User Opportunity on the Sunnyside of Garnet Avenue
  • Live Onsite and Collect Rent from the Retail/Office Tenants

OVERVIEW

The Franco Realty Group is proud to exclusively present for sale the mixed-use commercial property located at 1146-48 Garnet Avenue in Pacific Beach. The mixed-use property retail/office and residential property has 2 retail/office units and 1 detached house. The house is a 4 bedroom / 3 bath, newly remodeled short term vacation rental that generates between $125k to $144k per year. There is a roof top deck, a balcony, private yard and two garage parking spaces. For underwriting purposes, we used long term rental income and still have a 5%+ CAP Rate. Short term income boosts the CAP Rate to 5.46% with a 20% management fee and a 43% expense ratio. One of the retail units is a former restaurant that has a history of getting between $3,000 to $4,000 per month plus triple net (NNN). The restaurant has a grease trap and hood. This space has a unique patio overlooking Garnet Avenue with excellent signage exposure. The other retail unit is 470 sqft and is currently vacant, allowing a buyer to occupy this portion of the property.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$736 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Pacific Beach Mixed-Use Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,123 SF

ZONING

CC-4-2

APN/PARCEL ID

415-623-17

ASK ABOUT THIS PROPERTY

Tony FrancoFranco Realty GroupMore Info
858-717-1697

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Tony FrancoFranco Realty GroupMore Info
858-717-1697

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.