Renovated Carlsbad Office
5055 Avenida Encinas, Carlsbad, CA 92008
For Sale
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Fully renovated office building near I-5 and the beach.
Property Size20,375 SF
Lot Size1.00 Acre
Price / SF$319.02
Days on Market922
Property Features for 5055 Avenida Encinas
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
Marcus & Millichap - San Diego
Listed By:
Ali Valiahdi · License #CA 01980677
(858) 373-3288
Source:
Crexi
Added: May 2, 2024
Changed: Nov 3
Last Checked: Nov 8 at 7:15AM
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 Marcus & Millichap - San Diego
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Investment Insights
Based on property information with market context.
Plaza Encinas presents a rare opportunity to acquire a fully renovated, two-story office building in Carlsbad, California. Constructed in 1985, the wood frame and stucco building encompasses approximately 20,375 square feet and is situated on a 1.0-acre parcel. The property is located west of the I-5 Freeway, less than a quarter mile from the Interstate and within a 10-minute walk to the beach. A full transformation of the property began in late 2020 and was completed in late 2023. Renovations included a new façade, window line, front and patio doors, exterior lighting, and parking resurfacing. HVAC systems with individual climate controls and new desert landscaping were added for more efficient management. The lobby was fully updated, and a brand-new elevator was installed, along with a new security system. All leases expire before 2025, offering flexibility for an owner-user or tenant to occupy the entire building.
Key Highlights
- Fully renovated office building completed late 2023.
- Prime location west of I‑5 Freeway in Carlsbad, CA, just a 10‑minute walk to the beach.
- Flexible usage with all leases expiring before 2025, ideal for owner‑user or single tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$438,725
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,774,500
$8.8M
Cap Rate 7%
$6,267,500
$6.3M
Cap Rate 9%
$4,874,722
$4.9M
Market Conditions
NOI Build-Up for 20,375 SF
Gross rent
$672.4K $33.00/SF
− Vacancy
−$87.4K −$4.29/SF
EGI
$585.0K $28.71/SF
− OpEx
−$146.2K −$7.18/SF
NOI
$438.7K $21.53/SF
Area
Carlsbad, CA
Vacancy
13.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,774,500
Cap Rate 7%
$6,267,500
Cap Rate 9%
$4,874,722
Alternative Uses
Best Use
Office B
$6.27M
$5.48M – $7.31M
NOI $438,725 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.49M
$6.55M – $8.74M
NOI $524,130 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
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Business Placement
Demographics for 92008, CA
27,282
Population
13,102
Households
2.1
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
10.4 sq mi
ZIP Area
2,623
Density / Sq Mi
$105,371
Median Household Income
$55,965
Median Earnings
$2,343
Median Rent
$1,142,300
Median Home Value
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Market
Properties on Market for Office buildings in San Diego County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Fully renovated office building near I-5 and the beach.
Where is this office building located?
The property is located at 5055 Avenida Encinas Carlsbad, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Fully renovated office building completed late 2023.; Prime location west of I‑5 Freeway in Carlsbad, CA, just a 10‑minute walk to the beach.; Flexible usage with all leases expiring before 2025, ideal for owner‑user or single tenant.
