Listing ID: 210032130
Sold For: $4,218,000
Status: SOLD
Sold Date: 6/29/2022
City: San Diego
State: California
Postal Code: 92115
Total Baths: 17
Acres: 1.160
County: San Diego
San Diego
CA
92115
Robert Wyse; the listing agent, is also one of the sellers. Nice center on corner lot with lots of parking. Seller to do 1031 exchange. Each suite has own bath, HVAC, power switch/fuse box and front and back door.. Haven't had long vacancies or many. Just invested well over $100,000 into restaurant for new Lessee that just opened and that went into new drain lines, new grease trap, new power panel and lots of wiring, new swamp cooler, new water heater, new water lines and vents in bathrooms etc etc etc. 7151 suites A - O were added on to the restaurant in 1978. Don't know age of restaurant. Large add sign on property which brings income also. Property is to be sold in as is condition. Buyer advised to get property inspection. Sellers make no warranties.

Primary Features

County: San Diego
Price Before Reduction: 4850000
Price Reduction Date: 2022-07-01T17:21:17+00:00
Property Type: Commercial-Office/Rental/Industrial
Year Built: 1978
Zoning: CUPD-CU-2-

Interior

Cooling: Central Forced Air Elec
Floors: Slab
Heating: Central Forced Air Elec
Minimum SqFt Available: 1100
Number of Stories: 1
Private Restrooms: 17
SqFt of Improvement: 19120
SqFt Source: Plans
Stories: 1 Story
Total Size: 19120
Unit Number (1): 7149
Unit Number (2): A-H
Unit Number (3): I
Unit Number (4): J
Unit Number (5): K
Unit Number (6): L
Unit Number (7): M
Unit Number (8): N + O
Unit Size (1): 4020
Unit Size (2): 8000
Unit Size (3): 1100
Unit Size (4): 900
Unit Size (5): 966
Unit Size (6): 834
Unit Size (7): 1200
Unit Size (8): 2100
Vacant SqFt: 1100

External

Construction: Frame
Entry Only: no
Lot SqFt Approximate: 50393
Number of Buildings: 1
Number of Units: 8
Parking: On Site
Parking Ratio: approx 63 spots
Roof: Other/Remarks
Sprinkler: y

Location

Country: United States
Location: Corner, Strip Center
Market Area: Metro Uptown
Zip/Area: SAN DIEGO (92115)

Additional

Class: COMMERCIAL-OFF/RTL/IND
Commercial Property Type: Retail Lease
Property Type: Retail
Special: Sellers Are RE Licensees

Financial

Actual Gross Scheduled Income: 385000
Actual Operating Expense: 110000 int. not included
Assessed Value Improved: 1674607
Cap Rate Actual: 5.4
Financial Info Source: Owner
Financing: Cash to New Loan
Lease Expires (1): 15 1 year options to ext
Lease Expires (2): 15 1 year options to exte
Lease Expires (3): 15 1 year options to exte
Lease Expires (4): 15 1 year options to exte
Lease Expires (5): 15 1 year options to exte
Lease Expires (6): 15 1 year options to exte
Lease Expires (7): 2 years + 3 1 year option
Lease Expires (8): 15 1 year options to exte
Minimum Lease Terms (1): 1year
Minimum Lease Terms (2): 1 year
Minimum Lease Terms (4): 1 year
Minimum Lease Terms (5): 1 year
Minimum Lease Terms (6): 1 year
Minimum Lease Terms (7): 2 years
Minimum Lease Terms (8): 1 year
Monthly Rent (1): $4743 + NNN
Monthly Rent (2): 9617 + NNN
Monthly Rent (3): 1371 + NNN
Monthly Rent (4): 1121 + NNN
Monthly Rent (5): 1194 + NNN
Monthly Rent (6): 1014 + NNN
Monthly Rent (7): 1464 + NNN
Monthly Rent (8): 2520 + NNN
Monthly Rent Total: 23394
Other Income Actual: 8734
Price per SqFt of Improvement: 256
Sale Includes: Building, Land, Leases
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
SP$/LP$: 1
Tenant Improvement Allowance: 1-2 months free
Tenant Pays: All of the Above
Terms: Cash

Zoning Info


Area Info


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Listing courtesy of Wyse Properties

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