Mixed-Use Property with Retail
55-3651 Ocean View Blvd San Diego, CA 92113
55-3651 Ocean View Blvd, San Diego, CA, 92113
$795,000
For Sale
$795,000
A five-unit mixed-use building with three retail spaces and two 1-bedroom units, built in 1926.
Property Size3,450 SF
Lot Size0.15 Acres
Price / SF$230.43
Days on Market49
Property Features for 55-3651 Ocean View Blvd
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1926
Listing agency
The Browar Group
(858) 349-7183
Listed by
Grant Myerson · License #02095348
(858) 349-7183
Source
Elliman
Added: Jun 3 Updated: Jul 21 at 12:10AM Checked: Jul 21 at 12:10AM
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 The Browar Group
Investment Insights
Based on property information with market context.
This mixed-use property consists of five units in a 1926-built building. The configuration includes two 1 bed/1 bath units of approximately 660 square feet each, plus three retail units totaling approximately 2,130 square feet. The seller has rebuild plans available following prior fire damage.
The property is located at 3651–55 Ocean View Blvd and sits on a 6,752 square foot lot. It is designated as being located in an Opportunity Zone, and the RS-1-7 zoning may support interest from buyers considering conversion to fully residential use.
For buyers, the offering includes the option to renovate or reposition the asset. Seller financing will be considered for fair and reasonable terms.
The property is located at 3651–55 Ocean View Blvd and sits on a 6,752 square foot lot. It is designated as being located in an Opportunity Zone, and the RS-1-7 zoning may support interest from buyers considering conversion to fully residential use.
For buyers, the offering includes the option to renovate or reposition the asset. Seller financing will be considered for fair and reasonable terms.
Key Highlights
- 5‑unit mixed‑use building totaling approx. 3,450 SF on a 6,752 SF lot, built in 1926.
- Includes two 1 bed/1 bath residential units of approx. 660 SF each and three retail units totaling approx. 2,130 SF.
- Previously sustained fire damage; seller has rebuild plans available.
Local Financial Insights For Mixed Use
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 | $115.9k | $33.60 |
| − Vacancy | −$9.3k | −$2.69 |
| EGI | $106.6k | $30.91 |
| − OpEx | −$40.0k | −$11.59 |
| NOI | $66.7k | $19.32 |
3,450 SF · lease $33.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,280 @ 7.0% cap · market cap 10.48%
Second Best
Mixed Use
$952.2K
$833.2K – $1.11M
NOI $66,654 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,386 @ 7.0% cap · market cap 12.00%
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 - A five-unit mixed-use building with three retail spaces and two 1-bedroom units, built in 1926.
Where is this retail space located?
The property is located at 55-3651 Ocean View Blvd San Diego, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5‑unit mixed‑use building totaling approx. 3,450 SF on a 6,752 SF lot, built in 1926.; Includes two 1 bed/1 bath residential units of approx. 660 SF each and three retail units totaling approx. 2,130 SF.; Previously sustained fire damage; seller has rebuild plans available.
