Mixed-Use Property with Parking
1023 Fourth Avenue, San Diego, CA 92101
For Sale
Contact for pricing
Three connected buildings pair residential lofts and retail space with secured garage parking in downtown San Diego.
Property Size39,329 SF
Price / SF$610.24
Days on Market27
Property Features for 1023 Fourth Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Corner Location
Mixed-Use Components
Additional Details
Multifamily Units
Building Details
Buildings
Listing Agency:
CBRE - San Diego
Listed By:
Reg Kobzi · License CA #00917639
(858) 546-4604
Source:
Crexi
Added: Oct 16
Changed: Nov 8
Last Checked: Nov 10 at 8:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - San Diego
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Investment Insights
Based on property information with market context.
This downtown San Diego property comprises 33 residential lofts, 39,329 square feet of retail space and a secured parking garage with 275 spaces. The components occupy three connected buildings, originally constructed in the early 1900s. Residential features include oversized windows and elevated ceilings.
At the corner of Fourth and Fifth Avenue and Broadway, the property is in the Civic/Core area and borders the Gaslamp Quarter. The Campus at Horton is nearby, and the property has a Walk Score of 99. Its combination of residential, retail and parking uses is integrated across the three-building site.
At the corner of Fourth and Fifth Avenue and Broadway, the property is in the Civic/Core area and borders the Gaslamp Quarter. The Campus at Horton is nearby, and the property has a Walk Score of 99. Its combination of residential, retail and parking uses is integrated across the three-building site.
Key Highlights
- 33 residential lofts
- 39,329 square feet of retail space
- Secured parking garage with 275 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$949,366
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,987,320
$19.0M
Cap Rate 7%
$13,562,371
$13.6M
Cap Rate 9%
$10,548,511
$10.5M
Market Conditions
NOI Build-Up for 39,329 SF
Gross rent
$1.42M $36.00/SF
− Vacancy
−$59.6K −$1.52/SF
EGI
$1.36M $34.48/SF
− OpEx
−$406.9K −$10.35/SF
NOI
$949.4K $24.14/SF
Area
San Diego, CA
Vacancy
4.21%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,987,320
Cap Rate 7%
$13,562,371
Cap Rate 9%
$10,548,511
Alternative Uses
Best Use
Retail
$13.56M
$11.87M – $15.82M
NOI $949,366 @ 7.0% cap · market cap 3.96%
Second Best
Mixed Use
$10.85M
$9.50M – $12.66M
NOI $759,836 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$15.53M
$13.59M – $18.12M
NOI $1,087,368 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
33
Residential units
Location Intelligence
Trade Area within ½ mile
13,093
Businesses Nearby
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Business Placement
Demographics for 92101, CA
47,505
Population
32,909
Households
1.4
Avg Household Size
39
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
8,797
Density / Sq Mi
$90,477
Median Household Income
$72,371
Median Earnings
$2,351
Median Rent
$740,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in San Diego, CA
Properties on Market for Mixed-use properties in San Diego
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three connected buildings pair residential lofts and retail space with secured garage parking in downtown San Diego.
Where is this mixed-use property located?
The property is located at 1023 Fourth Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $24,000,000.
What are key features of this property?
This property features: 33 residential lofts; 39,329 square feet of retail space; Secured parking garage with 275 spaces
