Adams Avenue Mixed Use | 2121-2127 Adams Ave
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Adams Avenue Mixed Use 2121-2127 Adams Ave
5,750 SF 100% Leased Retail Building San Diego, CA 92116 £2,073,493 (£361/SF) 4.87% Net Initial Yield
Investment Highlights
- Highly desirable area in University Heights on Adams Avenue adjacent Trolley Barn Park.
- Seasoned tenant based provides income stability.
- High barriers to entry for retail and restaurant operators.
- Tenant base includes Soichi Sushi, awarded of a Michelin Star in 2021 and De Nada Kitchen & Market whose chef has multiple Food Network appearances.
Executive Summary
This mixed-use investment property is located on Adams Avenue in the University Heights neighborhood of San Diego. The ground floor has a strong retail tenant mix with Michelin Star rated Soichi Sushi, Hatzusakura, and Let Your Hair Down Salon. The second floor consists of 3 offices suites and a 3-bedroom/2-bathroom apartment with a patio and two car garage. University Heights is one of San Diego’s most sought-after neighborhoods with high barriers to entry. Over 224,000 people reside within a 3-mile radius of this property with an average household income of over $81,000.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
5,750 SF
Building Class
C
Year Built/Renovated
1974/2005
Price
£2,073,493
Price Per SF
£361
Net Initial Yield
4.87%
NOI
£101,082
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.65
Lot Size
0.08 AC
Zoning
CL-5
Parking
2 Spaces (0.35 Spaces per 1,000 SF Leased)
Frontage
100 ft on Adams Ave
Amenities
- Bus Route
- Restaurant
- Signage
- Air Conditioning
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 445-061-27 | Improvements Assessment | £755,707 |
| Land Assessment | £377,853 | Total Assessment | £1,133,560 |
PROPERTY TAXES
Parcel Number
445-061-27
Land Assessment
£377,853
Improvements Assessment
£755,707
Total Assessment
£1,133,560
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Adams Avenue Mixed Use | 2121-2127 Adams Ave
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