4604 University Ave San Diego, CA 92105
Freestanding 6,438 SF commercial building in City Heights.
Property size:
6,438 SFLot size:
0.21 AcresProperty Features for 4604 University Ave
General Information
- Size
- 6,438 SF
- Lot size
- 0.21 Acres
Source:
Moodyscre
Listing Agent: Brian Nelson
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
City Heights Commercial Corner Building
Located in a Complete Communities + Opportunity Zone in City Heights, this freestanding corner building at 4604 University Avenue offers 6,438 square feet of space on a 9,258 square foot parcel. Zoned for commercial use, the property is suitable for various purposes. Currently, a month-to-month tenant uses the space for retail/wholesale storage. The property includes six off-street gated parking spaces, plus two 30-minute street spaces. The current single net lease provides a 3.4% CAP rate, with rental upside potential by adjusting to the market rate of $1.60 per square foot. Over 23,000 vehicles pass by the property daily on University Avenue. The property is located in a Complete Communities Tier 3 Zone, allowing for 60+ apartment units to be built over retail with a FAR of 6.5. The current tenant has leased the property for the past 10 years and operates a nail/beauty supply warehouse business. Potential uses include: Complete Communities + opportunity zone redevelopment, owner/user opportunity, holding for redevelopment while generating cash flow, or subdividing into retail spaces. The owner is responsible for property taxes, insurance, and roof maintenance, while the tenant covers all other expenses.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.0952083
- Latitude
- 32.7497624
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Freestanding 6,438 SF commercial building in City Heights.
Where is this retail space located?
The property is located at 4604 University Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: - Located in a Complete Communities Tier 3 Zone and Opportunity Zone, offering potential for 60+ apartment units over retail and significant tax incentives.; - Freestanding corner building with 6,438 square feet on a 9,258 square foot parcel.; - Current 3.4% CAP rate with rental upside potential to achieve a 4.8% CAP rate.