Bankers Hill Mixed-Use
For Sale
$2,849,000
2368 2nd AVE, San Diego, CA 92101
Three-story mixed-use property in Bankers Hill near Balboa Park.
Property Size3,800 SF
Price / SF$749.74
Days on Market99
Property Features for 2368 2nd AVE
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Commercial
Listing Agency:
Keller Williams San Diego Metro
(858) 243-4554
Listed By:
Salvatore Cefalu · License #01435914
(858) 243-4554
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 11:57AM
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 Keller Williams San Diego Metro
Investment Insights
Based on property information with market context.
Located at the intersection of Bankers Hill, Balboa Park, and the airport, this three-story structure offers a combination of location, zoning flexibility, on-site parking, and historic designation. The mixed-use zoning allows for ground-floor retail with upper-level residences, a boutique professional campus, or a creative space. The independently accessible floors, each with private in-egress, allow owners to simultaneously lease, operate, and occupy, creating multiple income streams. The property is close to the EPA and the business center. It includes Mills Act property tax savings and on-site parking. The layout and design of this three-story structure provide flexibility. The property's mixed-use zoning opens possibilities for boutique retail, professional offices, residential lofts, creative studios, or a combination of all. Qualified owners benefit from property tax reductions under the Mills Act. The property has a bike score of 77, a walk score of 97, and a transit score of 52.
Key Highlights
- Prime location at the intersection of Bankers Hill and Balboa Park, near the airport.
- Mixed‑Use zoning allows for diverse usage possibilities (retail, office, residential).
- Mills Act designation provides significant property tax savings.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.8k | $36.00 |
| − Vacancy | −$5.8k | −$1.52 |
| EGI | $131.0k | $34.48 |
| − OpEx | −$39.3k | −$10.35 |
| NOI | $91.7k | $24.14 |
3,800 SF · lease $36.00/SF/yr · vacancy 4.21% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $91,729 @ 7.0% cap · market cap 3.22%
Second Best
Mixed Use
$1.05M
$917.7K – $1.22M
NOI $73,416 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,062 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,728
Businesses Nearby
Explore this area
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
Market
Properties on Market for Mixed-use properties in San Diego County
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use property in Bankers Hill near Balboa Park.
Where is this mixed-use property located?
The property is located at 2368 2nd AVE San Diego, CA.
What is the asking price?
The asking price for this property is $2,849,000.
What are key features of this property?
This property features: Prime location at the intersection of Bankers Hill and Balboa Park, near the airport.; Mixed‑Use zoning allows for diverse usage possibilities (retail, office, residential).; Mills Act designation provides significant property tax savings.
