Freestanding NNN Leased Thrift
1655 Euclid Ave, San Diego, CA 92105
For Sale
Contact for pricing
NN leased Red White & Blue Thrift Store for sale.
Property Size30,778 SF
Price / SF$338.33
Days on Market269
Property Features for 1655 Euclid Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Units
Tenancy
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Matthew Mousavi · License CA #01732226
(714) 404-8849
Source:
Crexi
Added: Feb 19
Changed: Nov 12
Last Checked: Nov 12 at 4:50AM
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 SRS Real Estate Partners Newport Beach
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Investment Insights
Based on property information with market context.
The property is a freestanding, net-net (NN) leased Red White & Blue Thrift Store located in San Diego, California. The tenant, Valley Thrift Store, LLC, has a 10-year lease with two 5-year options to extend. The lease includes 10% rental increases every 5 years throughout the initial term and at the beginning of each option period. The lease is NN with limited landlord responsibilities. Red White & Blue Thrift Stores operate in 30 locations across the U.S., offering second-hand items including apparel and home furnishings. The property is located near the intersection of Euclid Avenue and Federal Boulevard, with traffic exceeding 37,000 vehicles per day. It benefits from access to Interstate 805, Highway 94, and Highway 15. The site is adjacent to San Diego Marketplace, a neighborhood center anchored by dd’s Discounts, Dollar Tree, Planet Fitness, and Rent-A-Center. Nearby tenants include Costco, The Home Depot, Food4less and Goodwill. The site is located less than 4 miles from San Diego State University, which has a student population of over 41,000 and nearly 7,000 faculty and staff members. The property is approximately 6 miles from San Diego International Airport, which served 25.24 million passengers in 2024. It is within walking distance of apartment complexes such as Hillside Views (300 units), Harbor Vista (272 units), and Las Palmas Villas (110 units). The surrounding 5-mile trade area includes over 651,000 residents and 259,000 daytime employees with average household incomes exceeding $110,000. The property size is 30778 square feet.
Key Highlights
- NN lease with limited landlord responsibilities, ideal for passive investors.
- Tenant recently signed a 10‑year lease with options to extend, demonstrating long‑term commitment.
- 10% rental increases every 5 years**, hedging against inflation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$744,581
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,891,620
$14.9M
Cap Rate 7%
$10,636,871
$10.6M
Cap Rate 9%
$8,273,122
$8.3M
Market Conditions
NOI Build-Up for 30,778 SF
Gross rent
$1.11M $36.00/SF
− Vacancy
−$44.3K −$1.44/SF
EGI
$1.06M $34.56/SF
− OpEx
−$319.1K −$10.37/SF
NOI
$744.6K $24.19/SF
Area
ZIP 92105
Vacancy
4.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,891,620
Cap Rate 7%
$10,636,871
Cap Rate 9%
$8,273,122
Alternative Uses
Best Use
Retail
$10.64M
$9.31M – $12.41M
NOI $744,581 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.16M
$10.64M – $14.18M
NOI $850,950 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
162k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 47%
Home Improvements & Furnishings 1%
McDonald's
Dining
36,713 visits/mo
0.2 miles
Jack in the Box
Dining
20,630 visits/mo
0.1 miles
dd's DISCOUNTS
Shops & Services
19,431 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,587 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
11,854 visits/mo
0.1 miles
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
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Market
Properties on Market for Storefront properties in San Diego
Vacancy Rate% for Retail in San Diego, CA
Frequently Asked Questions
What type of property is this?
Storefront property - NN leased Red White & Blue Thrift Store for sale.
Where is this storefront property located?
The property is located at 1655 Euclid Ave San Diego, CA.
What is the asking price?
The asking price for this property is $10,413,000.
What are key features of this property?
This property features: NN lease with limited landlord responsibilities, ideal for passive investors.; Tenant recently signed a **10‑year lease with options to extend**, demonstrating long‑term commitment.; 10% rental increases every 5 years**, hedging against inflation.
