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    722 5Th Ave San Diego, CA 92101

    Sponsored
    For Sale
    $7,250,000

    Historic building, high occupancy, strong NOI.

    Property size:
    11,906 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional three-story, 11,906 square foot mixed-use building in San Diego's vibrant Gaslamp Quarter presents a compelling value-add investment opportunity. Located at 722-728 5th Avenue, this 1901-built property (renovated in 2020) boasts a 6.53% cap rate and a net operating income (NOI) of $473,293, with 100% occupancy. The ground floor houses Osteria Paneviro & Asti Ristorante, generating an average rent of $6.73 per square foot (NNN), with leases expiring in March 2026 and December 2026. The second and third floors are occupied by the Gaslamp Hostel, currently renting at $1.70 per square foot (NNN), with a lease expiration in March 2027. All tenants have fair market value options with CPI increases. The hostel's current rent is significantly below market value (approximately 50% of current market rates), representing a substantial value-add potential for the new owner. The property features three units and is situated on a prime location in San Diego, CA (zip code 92101), with an APN of 535-092-07-00. The asking price is $7,250,000, translating to $608.94 per square foot. This is a rare chance to acquire a well-positioned, income-producing asset with significant upside potential.

    Property Features for 722 5Th Ave

    General Information

    Property type
    Restaurants
    Square Feet
    11,906 SF

    Building Details

    Year Built/Renovated
    1901/2020
    Stories
    3
    Units
    3

    HighLights

    • Exceptional three‑story, 11,906 SF mixed‑use building in San Diego's Gaslamp Quarter (722‑728 5th Ave, 92101).
    • 6.53% cap rate, $473,293 NOI, 100% occupancy.
    • Ground floor: Osteria Paneviro & Asti Ristorante ($6.73/SF NNN, leases expiring March 2026 & December 2026).
    • Second & third floors: Gaslamp Hostel ($1.70/SF NNN, lease expiring March 2027; rent significantly below market, offering substantial value‑add potential).
    • All tenants have fair market value options with CPI increases.
    • Asking price: $7,250,000 ($608.94/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Osteria Panevino Italian Restaurant Self Storage Self-Storage Facility

    Suggested Use

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

    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
    -117.16017725206
    Latitude
    32.712962403031

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    FAQs

    What type of property is this?
    Restaurant - Historic building, high occupancy, strong NOI.
    Where is this restaurant located?
    The property is located at 722 5Th Ave San Diego, CA.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: Exceptional three-story, 11,906 SF mixed-use building in San Diego's Gaslamp Quarter (722-728 5th Ave, 92101).; 6.53% cap rate, $473,293 NOI, 100% occupancy.; Ground floor: Osteria Paneviro & Asti Ristorante ($6.73/SF NNN, leases expiring March 2026 & December 2026).
    Request Owner's contact information
    722 5Th Ave San Diego, CA 92101
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    San Diego, CA 92101
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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 5Th Ave San Diego, CA 92101
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