Current Use by Public Records
- Sadaf Restaurant / Restaurant
- Merle N Schneidewind A PC / Law Firm
Property Details for 828 5Th Ave
- Year built
- 1895
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional San Diego mixed-use property, located at 828-836 5th Ave (APN 533-576-08-00, 533-576-09-00), offers a compelling value-add investment opportunity. The 8,729 square foot, two-story building boasts a strong 6.65% cap rate and a current NOI of $319,040, with an asking price of $4,800,000 ($549.89/SF). Currently, the property is 85% leased, comprising a ground floor with two restaurants (Sadaf and Casa Balance) averaging $5.73/SF NNN, with leases expiring in April and June 2026 (no remaining options). The second floor houses 12 executive office units, nine of which are leased to an architecture firm until April 2025, with a single five-year fair market option. Built in 1895 and renovated in 2001, this property presents a twofold value-add strategy: increase rental income from the restaurants (currently 15% below market rent) upon lease renewal in 2026, and reposition the existing office space into a higher-rent, creative office layout, potentially attracting a single, larger tenant. The property consists of three units in total, situated in the desirable 92101 zip code of San Diego County, California. This is a rare chance to acquire a well-located, mixed-use asset with significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.16
- Latitude
- 32.714
