Hillcrest Retail Building For
For Sale
Contact for pricing
1041-1047 University Ave, San Diego, CA 92103
Two-story retail building in vibrant Hillcrest neighborhood.
Property Size8,100 SF
Price / SF$506.17
Days on Market241
Property Features for 1041-1047 University Ave
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Retail
Zoning
CC-3-8
Investment Type
Value Add
Building Details
Year Built
1910
Year Renovated
2010
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
CBRE - San Diego
Listed By:
Reg Kobzi · License #CA 00917639
(858) 546-4604
Source:
Crexi
Added: Feb 11
Changed: Oct 3
Last Checked: Oct 7 at 12:12PM
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
Investment Insights
Based on property information with market context.
This two-story retail building is located at 1041-1047 University Avenue in the heart of Hillcrest, one of San Diego’s most vibrant and densely populated urban neighborhoods. The property is strategically positioned in a high-traffic urban core, guaranteeing significant foot traffic and exceptional visibility. The property offers a turnkey solution for restaurateurs, featuring a fully-equipped former restaurant space with a hood system, complemented by a spacious outdoor patio. The restaurant-ready space allows capitalizing on existing infrastructure while attracting customers with an al fresco dining experience, enhancing capacity and appeal in a prime location. The property size is 8,100 square feet. For owner-users, the property presents an exceptional opportunity to acquire the building with only 10% down through SBA financing.
Key Highlights
- Prime Hillcrest location with high foot traffic and exceptional visibility.
- Restaurant‑ready space with existing hood system.
- Desirable and spacious outdoor patio for al fresco dining.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,949
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,478,980
$4.5M
Cap Rate 7%
$3,199,271
$3.2M
Cap Rate 9%
$2,488,322
$2.5M
Market Conditions
NOI Build-Up for 8,100 SF
Gross rent
$311.0K $38.40/SF
− Vacancy
−$12.4K −$1.54/SF
EGI
$298.6K $36.86/SF
− OpEx
−$74.6K −$9.22/SF
NOI
$223.9K $27.65/SF
Area
San Diego, CA
Vacancy
4.00%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,478,980
Cap Rate 7%
$3,199,271
Cap Rate 9%
$2,488,322
Alternative Uses
Best Use
Specialty Retail
$3.20M
$2.80M – $3.73M
NOI $223,949 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,378
Businesses Nearby
245k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Dining 26%
Shops & Services 18%
Apparel 5%
Whole Foods Market
Groceries
64,059 visits/mo
0.3 miles
Ralphs
Groceries
46,221 visits/mo
0.2 miles
Better Buzz Coffee Roasters
Dining
12,340 visits/mo
0.3 miles
Jack in the Box
Dining
12,210 visits/mo
0.3 miles
Hillcrest Ace Hardware
Home Improvements & Furnishings
10,284 visits/mo
0.1 miles
Demographics for 92103, CA
33,311
Population
21,363
Households
1.6
Avg Household Size
42
Median Age
63%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,003
Density / Sq Mi
$96,887
Median Household Income
$69,732
Median Earnings
$2,020
Median Rent
$986,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-story retail building in vibrant Hillcrest neighborhood.
Where is this conventional restaurant located?
The property is located at 1041-1047 University Ave San Diego, CA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Prime Hillcrest location with high foot traffic and exceptional visibility.; Restaurant‑ready space with existing hood system.; Desirable and spacious outdoor patio for al fresco dining.
