540 27th St - Storefront Retail/Office FOR SALE


San Diego, CA 92102
$1,650,000 USD
949-689-4829
540 27th St, San Diego, CA for Sale
$1,650,000 USD
Storefront Retail/Office - FOR SALE
1/43
null | Request Cap Rate

540 27th St
San Diego, CA 92102


HIGHLIGHTS

  • Within an Opportunity Zone (Tax Advantages)
  • Within Transit Priority Area (Redevelopment Benefits IncludingDensity Bonus)
  • Walking Distance to Public Transit, Grant Hill Community Park(panoramic views), and Commercial Amenities
  • Minutes from East Village, Downtown, Balboa Park, and the San Diego International Airport
  • Near I-8 On and OffRamps and I-5
  • Gentrifying Community w/increasing property values due to area investments - renovations, redevelopment, & infrastructure Improvements

OVERVIEW

A Great opportunity for an owner/user or Investor/developer. The Property is owner-occupied by a church with a sanctuary on the first floor, and an upstairs apartment converted to a large open meeting room, office, and kitchen. Numerous options for the new owner include occupying the Property As-Is or converting the first floor to retail or office use and the second floor to a three-bedroom- one-bath apartment. Investors/developers will find value in the Property's favorable zoning, CC-3-6 Mixed Use Zoning, which allows for mixed-use and the possibility to increase density and receive incentives through the Complete Communities: Housing Solutions program because of the Property's location with a TransitPriority Area. MORE INFO: https://www.sandiego.gov/complete-communities/housing-solutions. There is also more information on HUBZone: https://www.sandiego.gov/economic-development/industry/hubzone. HUBzone was created to stimulate economic development and employment growth in communities by providing Federal contracting preferences to small businesses. Lastly, the information on Opportunity Zones is as follows: https://economicdevelopment.business.ca.gov/place-based-strategies/opportunity-zones/. Opportunity Zones incentivize investment and economic development in distressed communities by providing federal tax benefits to investors for qualified uses. The incentive enables a temporary deferral of capital gains for qualified investments through a Qualified Opportunity Fund (QOF) established with the Internal Revenue Service (IRS). The Property is located in the bustling Grant Hill community within the highly traveled Market Street corridor. It is within walking distance of Grant Hill Community Park, public transit, and commercial services. Adjacent to State Route 94 and less than a mile from Interstate 5, it is minutes from East Village, Downtown San Diego, Balboa Park, and San Diego International Airport.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$550 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Freestanding, Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,732 SF

ZONING

CC-3-6

APN/PARCEL ID

535-282-08

ASK ABOUT THIS PROPERTY

Jeremie TavisolaTavisola and AssociatesMore Info
949-689-4829

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Jeremie TavisolaTavisola and AssociatesMore Info
949-689-4829

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