2333 State St Carlsbad, CA 92008

Located at the northern entry point into Carlsbad Village, this three-story office building offers visibility and a commanding presence. Between 2022 and 2025, the property underwent extensive renovations, including a refreshed exterior façade, new outdoor areas and landscaping, and an updated lobby. Interior suites feature newly constructed, high-end creative improvements. The property offers developers a covered-land opportunity, with in-place income generating a 6% return on cost. Annual rent escalations of 3% support land value appreciation over the next decade. The 1-acre site offers future development and redevelopment opportunities. The property is fully stabilized and recently renovated, generating cash flow from existing tenants while maintaining rollover flexibility. The improvements enhance adaptability, creating a turn-key leasing environment for future rollover. The current suite configuration provides an opportunity for a future investor to place a commercial condominium map on the Property providing the ability to sale the suites individually. The property offers views of protected habitat, including the Buena Vista Lagoon, spanning more than 220 acres. The cities of Oceanside and Carlsbad partnered with SANDAG to complete a restoration project that is enhancing the lagoon’s hydrological connectivity to the ocean.