2404-2406 University Ave - Convenience Store FOR SALE


San Diego, CA 92104- North Park
$2,104,500 USD
925-390-8518
2404-2406 University Ave, San Diego, CA for Sale
$2,104,500 USD
Convenience Store - FOR SALE
1/9
null | 4% Cap Rate

2404-2406 University Ave
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Absolute NNN Lease
  • Zero Landlord Obligations
  • Corporate Guarantee
  • Long-Term Operating History Since 1968
  • Tenant Reports Sales
  • Recently Remodeled Building

OVERVIEW

The Kase Group is excited to offer the opportunity to acquire a well-established 7- Eleven location in San Diego, California, on an absolute NNN lease. The tenant boasts a long-term operating history, and the building has recently undergone a comprehensive remodel. The lease is corporately guaranteed with no landlord obligations, and the tenant has exercised their first option, which expires in May 2029, with an additional renewal option that includes a 10% rent increase. Strategically located in the vibrant North Park neighborhood, this property enjoys high visibility along University Avenue, a popular corridor renowned for its diverse selection of dining options, shops, and entertainment establishments. The area benefits from significant traffic, with 19,707 vehicles per day along University Avenue and 182,000 vehicles per day along the 805 Freeway, offering convenient access to the 805. The property also boasts strong 3-mile demographics, with 278,664 residents and an average household income of $111,612. Additionally, it is less than a mile from Balboa Park, a historic cultural landmark attracting over 14 million visitors annually.

FOR SALE DETAILS

PRICE

$2,104,500 USD

PRICE/SF

$775 USD /SF

CAP RATE

4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Leased 7-Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

445-692-13,445-692-14

ASK ABOUT THIS PROPERTY

Jason DenhamThe Kase GroupMore Info
925-390-8518

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Jason DenhamThe Kase GroupMore Info
925-390-8518

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