1037-1039 University Ave
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1037-1039 University Ave
3,900 SF 100% Leased Retail Building San Diego, CA 92103 £1,716,075 (£440/SF) 5.05% Net Initial Yield
Investment Highlights
- Prime location on University Avenue Retail Corridor
- Great Visibility
- Heavily Invested Retail Tenant
Executive Summary
Mixed use building in the center of the historic University Avenue retail corridor of Hillcrest. Retail space has well established long term tenant who's well invested in tenant improvements. Two residential units on second floor above retail. Rear alley access with three off street parking spots. Close to the 163. Potential value add.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
3,900 SF
Building Class
C
Year Built
1925
Price
£1,716,075
Price Per SF
£440
Net Initial Yield
5.05%
NOI
£86,593
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.12
Land Acres
0.08 AC
Zoning
CC-3-8
Parking
3 Spaces (0.77 Spaces per 1,000 SF Leased)
Frontage
25 ft on University
Walk Score ®
Walker's Paradise (96)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 452-156-17 | Improvements Assessment | £835,510 (2024) |
| Land Assessment | £584,857 (2024) | Total Assessment | £1,420,367 (2024) |
PROPERTY TAXES
Parcel Number
452-156-17
Land Assessment
£584,857 (2024)
Improvements Assessment
£835,510 (2024)
Total Assessment
£1,420,367 (2024)
-
Greg Gardner -
Realty West Commercial
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1037-1039 University Ave
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