Waterfront Multi-Tenant Retail
2725-2727 Shelter Island Drive San Diego, CA 92106
2725-2727 Shelter Island Drive, San Diego, CA, 92106
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For Sale
Contact for pricing
Two-story, elevator-served multi-tenant building with street-level retail suites and a full second-floor restaurant.
Property Size10,858 SF
Lot Size0.22 Acres
Price / SF$640.08
Days on Market93
Property Features for 2725-2727 Shelter Island Drive
General Information
- Standard status
- Active
- Size
- 10,858 SF
- Lot size
- 0.22 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1971
Listing agency
Lee & Associates San Diego - Carlsbad
(760) 929-7835
Listed by
Jeff Abramson · License #CA 00956805
Source
Crexi
Added: Apr 21 Updated: Jul 22 at 10:26AM Checked: Jul 22 at 10:26AM
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 Lee & Associates San Diego - Carlsbad
Investment Insights
Based on property information with market context.
2725–2727 Shelter Island Drive is a two-story, elevator-served, multi-tenant commercial building totaling approximately 10,858 rentable square feet. The first floor is demised into multiple retail and commercial suites, with suite sizes ranging from approximately 547 to 2,115 square feet. Each suite provides exterior window exposure, an individual private access point, and ground-level accessibility.
The entire second floor is occupied by Brigantine’s first-ever restaurant. The property features architectural elements including nautical canopies and piling accents, and it is described as having sweeping marina views extending toward the Pacific Ocean.
Built in 1971, the building is positioned along the primary thoroughfare leading to San Diego Harbor, with adjacent public parking identified as a key convenience since the property is described as having no onsite parking. The southern boundary is overseen by the San Diego Port Authority, contributing to a professionally regulated environment.
The entire second floor is occupied by Brigantine’s first-ever restaurant. The property features architectural elements including nautical canopies and piling accents, and it is described as having sweeping marina views extending toward the Pacific Ocean.
Built in 1971, the building is positioned along the primary thoroughfare leading to San Diego Harbor, with adjacent public parking identified as a key convenience since the property is described as having no onsite parking. The southern boundary is overseen by the San Diego Port Authority, contributing to a professionally regulated environment.
Key Highlights
- Two‑story, elevator‑served multi‑tenant commercial building built in 1971
- Approximately 10,858 rentable SF on a 9,524 SF (0.22‑acre) parcel
- Ground‑floor retail/commercial suites sized from about 547 SF to 2,115 SF, with exterior window exposure and individual private access
Local Financial Insights For Specialty 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 | $416.9k | $38.40 |
| − Vacancy | −$16.7k | −$1.54 |
| EGI | $400.3k | $36.86 |
| − OpEx | −$100.1k | −$9.22 |
| NOI | $300.2k | $27.65 |
10,858 SF · lease $38.40/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$4.29M
$3.75M – $5.00M
NOI $300,202 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$3.74M
$3.28M – $4.37M
NOI $262,102 @ 7.0% cap · market cap 3.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two-story, elevator-served multi-tenant building with street-level retail suites and a full second-floor restaurant.
Where is this retail space located?
The property is located at 2725-2727 Shelter Island Drive San Diego, CA.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Two‑story, elevator‑served multi‑tenant commercial building built in 1971; Approximately 10,858 rentable SF on a 9,524 SF (0.22‑acre) parcel; Ground‑floor retail/commercial suites sized from about 547 SF to 2,115 SF, with exterior window exposure and individual private access
