547-549 Ninth Ave San Diego, CA 92101
- Hospitality properties
- 9,000 SF
- 0.07 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 547-549 Ninth Ave
- Year built
- 2022
- Lot size
- 0.07 lot acres
- Property size
- 9,000 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity presents Hotel Gigi, a 20-key boutique hotel located in San Diego's vibrant Gaslamp Quarter. Built in 2022, this two-story building boasts 9,000 square feet, including a brand-new, 1,800 square foot restaurant space ready for a new operator or lease. The hotel currently enjoys a 78% occupancy rate, generating a pro-forma NOI of $769,697 and a pro-forma cap rate of 9.62%. The asking price is $8,000,000, representing a price per key of $400,000 and a price per square foot of $888.89. The property sits on a 0.07-acre lot and is zoned CCPD-ER. Its prime location offers easy access to Petco Park, numerous restaurants, and major attractions within the Gaslamp Quarter. Furthermore, it's minutes away from the San Diego Zoo, SeaWorld, the Children's Museum, and San Diego International Airport, making it highly attractive to tourists and local clientele. This value-add opportunity allows a new owner to maximize potential through improved management or operational strategies. The property's strong performance and strategic location make it an ideal investment for those seeking a high-return hospitality asset in a thriving market. The APN is 535-121-02-00, and the ownership is fee simple.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.098
- Latitude
- 33.1086
