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    722 Grand Ave San Diego, CA 92109

    Sponsored
    For Sale
    $10,500,000

    Prime Beach Location, High NOI, NNN Lease

    Property size:
    4,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional opportunity to acquire a highly sought-after San Diego restaurant property. This trophy asset consists of two adjacent parcels totaling approximately 12,500 square feet, located west of Mission Boulevard, steps from the Pacific Beach boardwalk. The main parcel houses the established Firehouse Eatery, a 4,500 square foot free-standing single-tenant retail building. The restaurant has a current NNN lease with four five-year options, the first of which was exercised in February 2022, and annual rent increases based on CPI. The adjacent parcel, fronting Hornblend Street, is a parking lot currently leased to Laz Parking. This parcel is zoned CV-1-2 (Commercial Visitor), allowing for mixed-use development with a base density of one dwelling unit per 1,500 square feet of lot area and a floor area ratio (FAR) of 2.0. The property boasts a strong net operating income (NOI) of $372,960, resulting in a 3.55% cap rate. Built in 2006, this property presents a compelling investment opportunity in a prime coastal location, within a transit priority area. The asking price is $10,500,000. APN: 423-022-07-00

    Property Features for 722 Grand Ave

    General Information

    Property type
    Restaurants
    Square Feet
    4,500 SF

    Building Details

    Year Built
    2006

    HighLights

    • Trophy asset, steps from Pacific Beach boardwalk.
    • Free‑standing, single‑tenant retail building and adjacent parking lot totaling ~12,500 SF.
    • Two parcels: ~12,500 SF total lot area.
    • Firehouse Eatery (Parcel A): 4,500 SF building, NNN lease with four 5‑year options (first exercised Feb 2022), CPI rent increases.
    • Parking lot (Parcel B): Hornblend Street frontage, leased to Laz Parking; CV‑1‑2 zoning allows mixed‑use development.
    • Transit‑priority area.
    Property Profile Location Intelligence

    Current Use by Public Records

    San Diego Happy ... Lounge Firehouse American Eatery ... American Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.2555173
    Latitude
    32.794801

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    FAQs

    What type of property is this?
    Restaurant - Prime Beach Location, High NOI, NNN Lease
    Where is this restaurant located?
    The property is located at 722 Grand Ave San Diego, CA.
    What is the asking price?
    The asking price for this property is $10,500,000.
    What are key features of this property?
    This property features: Trophy asset, steps from Pacific Beach boardwalk.; Free-standing, single-tenant retail building and adjacent parking lot totaling ~12,500 SF.; Two parcels: ~12,500 SF total lot area.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    722 Grand Ave San Diego, CA 92109
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