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    409 3Rd Ave Chula Vista, CA 91910

    Sponsored
    For Sale
    $900,000

    High-yield retail property, 100% occupied.

    Property size:
    1,768 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 1,768 square foot retail property located at 409 Third Avenue in Chula Vista, California (91910), San Diego County. The property boasts a 6.13% cap rate with a pro-forma cap rate of 8.80%, generating a current NOI of $55,200 and a pro-forma NOI of $79,200. The asking price is $900,000, translating to a price per square foot of $509.05. This multi-tenant property features two buildings situated on a 5,801 square foot lot (APN 568-420-02-00). The front building, approximately 500 square feet, is under a long-term lease to a smoke shop. The rear building, approximately 1268 square feet, houses a well-established auto repair shop operating on a month-to-month lease. The current tenant is open to signing a new lease, or the property could be utilized by a new owner for their own business. This property offers a compelling combination of stable income and significant upside potential, making it an ideal addition to any investment portfolio. The property's central Chula Vista location ensures high visibility and accessibility. The gross lease structure simplifies management, and the 100% occupancy guarantees immediate cash flow. This is a rare opportunity to acquire a well-positioned, high-performing retail property in a thriving market.

    Property Features for 409 3Rd Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,768 SF

    Building Details

    Buildings
    2
    Units
    2

    HighLights

    • 1,768 SF retail property in Chula Vista, CA (91910), San Diego County, on a 5,801 SF lot.
    • Asking price: $900,000 ($509.05/SF).
    • 6.13% cap rate, pro‑forma 8.80% cap rate.
    • Current NOI $55,200, pro‑forma NOI $79,200.
    • Multi‑tenant with a smoke shop (long‑term lease) and auto repair shop (month‑to‑month lease).
    Property Profile Location Intelligence

    Current Use by Public Records

    A to Z Auto Auto Repair Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chula Vista
    County
    San Diego
    State
    California
    Longitude
    -117.0783039
    Latitude
    32.6372328

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    FAQs

    What type of property is this?
    Individual retail property - High-yield retail property, 100% occupied.
    Where is this individual retail property located?
    The property is located at 409 3Rd Ave Chula Vista, CA.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: 1,768 SF retail property in Chula Vista, CA (91910), San Diego County, on a 5,801 SF lot.; Asking price: $900,000 ($509.05/SF).; 6.13% cap rate, pro-forma 8.80% cap rate.
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    409 3Rd Ave Chula Vista, CA 91910
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    Chula Vista, CA 91910
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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
    409 3Rd Ave Chula Vista, CA 91910
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