Renovated Carlsbad Office
5055 Avenida Encinas, Carlsbad, CA 92008
Fully renovated office building near I-5 and the beach.
Type:Office
Property size:
20,375 SFLot size:
1.00 AcrePrice / SF:
$417/SF- Added:
- May 2, 2024
- Days on Market:
- 763
- Last Refresh:
- May 12 at 9:04 pm
Property Features for 5055 Avenida Encinas
General Information
- Standard status
- Active
- Size
- 20,375 SF
- Lot size
- 1.00 Acre
- Property subtype
- Office
Building Details
- Year Built
- 1985
Listing agent Ali Valiahdi License #CA 01980677
Listing office Marcus & Millichap - San Diego
Listing date May 2, 2024
Source Crexi
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 Marcus & Millichap - San Diego
HighLights
- Fully renovated office building completed late 2023.
- Prime location west of I‑5 Freeway in Carlsbad, CA, just a 10‑minute walk to the beach.
- Flexible usage with all leases expiring before 2025, ideal for owner‑user or single tenant.
- Significant recent upgrades include a new façade, window line, doors, lighting, parking, HVAC, landscaping, lobby, elevator, and security system.
- Sizeable building with approximately 20,375 square feet.
- Convenient access, located less than a quarter mile from Interstate 5.
Overview
Plaza Encinas presents a rare opportunity to acquire a fully renovated, two-story office building in Carlsbad, California. Constructed in 1985, the wood frame and stucco building encompasses approximately 20,375 square feet and is situated on a 1.0-acre parcel. The property is located west of the I-5 Freeway, less than a quarter mile from the Interstate and within a 10-minute walk to the beach. A full transformation of the property began in late 2020 and was completed in late 2023. Renovations included a new façade, window line, front and patio doors, exterior lighting, and parking resurfacing. HVAC systems with individual climate controls and new desert landscaping were added for more efficient management. The lobby was fully updated, and a brand-new elevator was installed, along with a new security system. All leases expire before 2025, offering flexibility for an owner-user or tenant to occupy the entire building.
Local Financial Insights For Office B
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 | $672.4k | $33.00 |
| − Vacancy | −$87.4k | −$4.29 |
| EGI | $585.0k | $28.71 |
| − OpEx | −$146.2k | −$7.18 |
| NOI | $438.7k | $21.53 |
20,375 SF · lease $33.00/SF/yr · vacancy 13.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.27M
$5.48M – $7.31M
NOI $438,725 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.49M
$6.55M – $8.74M
NOI $524,130 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Dispatch Tech
Consultant
Airstar Packing & Crating ...
Freight Service
Medical Device Resource ...
Employment Agency
Token Insurance Agency, ...
Insurance Agency
Integrated Protection Services
Sustainability Organization
Location Insight
- Map
- Local Demand
- City
- Carlsbad
- County
- San Diego
- State
- California
- Longitude
- -117.3301244
- Latitude
- 33.1319096
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FAQs
What type of property is this?
Office building - Fully renovated office building near I-5 and the beach.
Where is this office building located?
The property is located at 5055 Avenida Encinas Carlsbad, CA.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Fully renovated office building completed late 2023.; Prime location west of I‑5 Freeway in Carlsbad, CA, just a 10‑minute walk to the beach.; Flexible usage with all leases expiring before 2025, ideal for owner‑user or single tenant.
