138-140 Civic Center Dr - Medical FOR SALE


Vista, CA 92084
$4,398,350 USD
858-527-2727
138-140 Civic Center Dr, Vista, CA for Sale
$4,398,350 USD
Medical - FOR SALE
1/11
null | Request Cap Rate

138-140 Civic Center Dr
Vista, CA 92084


OVERVIEW

CHARMING OWNER/USER OPPORTUNITY WITH IN-PLACE INCOME * Excellent high profile corner location with phenomenal signage opportunity | Former 5,360 SF bank branch space is ideal for an owner-user | Adjacent to Vista Civic Center and within a short walk to abundant food options in downtown Vista and Vista Village. * The building’s potential income of $18,406/month (when one additional suite is leased) offers a new owner an exceptionally low after-tax occupancy cost of only $0.12/PSF per month or $1,932 (which excludes future building appreciation). A buyer can utilize attractive SBA financing with only 10% down. * Flexible suite sizes from 800 SF to 5,360 SF bode well for San Diego’s tenant base as over 90% of San Diego companies have less than 15 employees. Additionally, the average tenant size is approximately 3,500 SF. The building caters to this market and was designed and built to accommodate various tenant size requirements. * In-place rents are approximately 50% below market providing great upside for a new owner. FLEXIBLE ZONING WITH RESIDENTIAL UPSIDE * The building is located within the Downtown Vista Specific Plan, which allows for a variety of retail, professional and medical office uses. * Site is designated within Vista’s new General Plan Update 2050 to be rezoned as a high density “Mixed Use - General” which allows for a maximum density of 80 units per acre and expected to be approved Q2 2025. THRIVING AMENITY RICH SUBMARKET * Vista significantly benefits from its central location in the heart of North County only 7-miles from the coast and nearly equal distances from interstate 5 and 15 via the 78 freeway which services all of San Diego and Southern California. For this reason, Vista is highly sought after for regional North County tenants wanting to open one location to service all of North County. * There has been a significant revitalization of Vista’s downtown, with new residential and restaurant operators building quality product and attracting a younger more talented workforce. * Vista has a strong and diverse economy built upon a wide range of business clusters including Information and Communications Technology, Precision Manufacturing, Life Science, and Food Services. One of Vista’s fastest-growing industry sectors has been craft breweries (classified as Food Services) and is considered California’s craft beer capital as it has the most breweries per capita of any California city.

FOR SALE DETAILS

PRICE

$4,398,350 USD

PRICE/SF

$218 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

C1

APN/PARCEL ID

176-060-25

ASK ABOUT THIS PROPERTY

Matt PourchoCBRE, Inc.More Info
858-527-2727

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Matt PourchoCBRE, Inc.More Info
858-527-2727

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