722 Grand Ave San Diego, CA 92109
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Prime Beach Location, High NOI, NNN Lease
Property size:
4,500 SFProperty Features for 722 Grand Ave
General Information
- Property type
- Restaurants
- Square Feet
- 4,500 SF
Building Details
- Year Built
- 2006
Listing Agency: Coldwell Banker Commercial Listing Agent: Anni Grimes
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
San Diego Happy ...
Bar & Pub
Firehouse American Eatery ...
Restaurant
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.