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    1405 University Ave San Diego, CA 92103

    For Sale
    $1,975,000

    San Diego Retail Property - Net Lease

    Property size:
    1,834 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This San Diego retail property at 1405 University Avenue offers a compelling investment opportunity. The 1,834 square foot building is currently 100% leased under a Net Lease agreement with a tenant in place since October 1, 2008, with a remaining lease term of approximately 6.5 years expiring May 31, 2031. The lease includes CPI rental increases, providing built-in rent growth. The property boasts a strong net operating income (NOI) of $86,164, resulting in a 4.36% cap rate. Located in the vibrant Hillcrest neighborhood, the property benefits from high visibility on University Avenue, a major thoroughfare with over 20,000 vehicles passing daily. Its proximity to the 163 freeway, Balboa Park, Fashion Valley Mall, and San Diego International Airport enhances its appeal. A recent lease modification separated a 1,600 square foot rear storage area, offering potential for additional income generation for the new owner. The asking price is $1,975,000, translating to a price per square foot of $1,076.88. The building was renovated in 1985. This property presents a stable, income-producing asset with significant upside potential.

    Property Features for 1405 University Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,834 SF

    Building Details

    Year Renovated
    1985

    HighLights

    • 1,834 SF retail building in San Diego's Hillcrest neighborhood, 100% leased under a Net Lease.
    • 6.5 years remaining on the lease (expiring May 31, 2031), including CPI increases.
    • Strong NOI of $86,164, resulting in a 4.36% cap rate; asking price $1,975,000 ($1,076.88/SF).
    • High‑visibility location on University Ave., near freeway access and major amenities.
    • Recently renovated (1985) with a separate 1,600 SF storage area offering potential for additional income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon 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
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.15097739242
    Latitude
    32.748435194932

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    FAQs

    What type of property is this?
    Individual retail property - San Diego Retail Property - Net Lease
    Where is this individual retail property located?
    The property is located at 1405 University Ave San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,975,000.
    What are key features of this property?
    This property features: 1,834 SF retail building in San Diego's Hillcrest neighborhood, 100% leased under a Net Lease.; 6.5 years remaining on the lease (expiring May 31, 2031), including CPI increases.; Strong NOI of $86,164, resulting in a 4.36% cap rate; asking price $1,975,000 ($1,076.88/SF).
    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
    1405 University Ave San Diego, CA 92103
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