764 5Th Ave San Diego, CA 92101
- Retail properties
- 10,000 SF
Current Use by Public Records
- Retail properties
Property Details for 764 5Th Ave
- Year built
- 1901
- Property size
- 10,000 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional three-story mixed-use building in San Diego, CA (APN 535-092-13-00), offers a compelling value-add investment opportunity. Spanning 10,000 square feet, the property boasts a strong NOI of $92,013 and a 1.94% cap rate, with an asking price of $4,750,000 ($475/SF). Built in 1901 and renovated in 2024, the building comprises nine units. The ground floor and basement currently house the Red Ivy Lounge (BANG on 5th), operating under a lease with a rent of $4.75 per square foot (NNN) and expiring in April 2026, with two five-year options at fair market value. The tenant has significantly contributed to their own tenant improvements. The second and third floors are currently vacant but are permitted for eight multi-family units, presenting a significant opportunity to increase rental income and property value. This property presents a rare chance to capitalize on a thriving San Diego location with substantial upside potential through the development of the vacant residential units. The building's location at 764 Fifth Avenue, San Diego, CA 92101, places it in a high-demand area. This is an ideal investment for those seeking a mixed-use property with strong existing income and significant future development potential. The property is currently 50% leased.
Value Estimation
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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
- 32.7134
