5304-5320 Custer St - Warehouse FOR SALE


San Diego, CA 92110
$4,100,000 USD
858-373-3123
5304-5320 Custer St, San Diego, CA for Sale
$4,100,000 USD
Warehouse - FOR SALE
1/12
null | Request Cap Rate

Apr '25


5304-5320 Custer St
San Diego, CA 92110


HIGHLIGHTS

  • Sits squarely at the epicenter of central San Diego, its major development initiatives and at the intersection of Interstates 5 and 8.
  • Current industrial vacancy for the competitive set is 2.3% and market rent is $1.57/SF NNN.
  • Tenant's lease expires March 31, 2025. The current rent at $0.50/SF NNN are less than 1/3 of market rent. Subtenants occupy the spaces.
  • Easy access to all major San Diego freeways and walking distance to restaurants, two (eastbound and northbound) trolley stations and other Morena area
  • Owner-user or investment opportunity.
  • This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited.

OVERVIEW

Marcus & Millichap is pleased to present for sale 5304-5320 Custer Street. The offering, a rare opportunity for either owner-users or investors, is comprised of two adjacent parcels with metal construction warehouses, currently under one lease that expires March 31, 2025. 5304 Custer Street includes a Quonset hut and offers 5,192 square feet of building space on a 0.22 acre parcel. 5320 Custer Street includes multiple metal structures totalling 7,371 square feet of building space on a 0.30 acre parcel. The offering sits prominently at the intersection of Interstates 5 and 8 in coastal central San Diego. It is wedged in the middle of the largest redevelopments in San Diego -- the $3 billion Riverwalk Golf Course project, the Midway Rising / Sports Arena redevelopment, NAVWAR redevelopment and immediately adjacent to the Tecolote Village planned redevelopment. All of these developments will cumulatively add up to 20,000 residences and millions of Class A commercial square feet. The IL-3-1 zone allows a mix of light industrial, ofce and commercial uses. The purpose of the IL zones is to provide for a wide range of manufacturing and distribution activities. The development standards of this zone are intended to encourage sound industrial development by providing an attractive environment free from adverse impacts associated with some heavy industrial uses. The IL zones are intended to permit a range of uses, including nonindustrial uses in some instance. *This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited. Buyer will need to satisfy itself with respect to all investigations.

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$326 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

4

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52

LAND SF

22,708

ZONING

IL-3-1

APN/PARCEL ID

436-452-01,436-452-02

ASK ABOUT THIS PROPERTY

Scott HilmenMarcus & MillichapMore Info
858-373-3123

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Scott HilmenMarcus & MillichapMore Info
858-373-3123

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