11922 Bernardo Plaza DrSan Diego, CA 92128

Property Details for 11922 Bernardo Plaza Dr

Year built

1983

Lot size

6.22 AC

Property size (Sq ft)

9,999 SF

Zone code

COMMERCIAL

Property type

Retail properties

Property subtype

Community centers

APN

274-780-40-00

APU

2747804000

Description

This exceptional 123,514 square foot retail center, located in the thriving Rancho Bernardo submarket of San Diego, California, presents a unique investment opportunity. Situated at 11922 Bernardo Plaza Dr, 92128, this single-story center boasts a dominant Vons grocery store as its anchor, consistently ranking as the top-performing grocery store within a five-mile radius, generating approximately $50 million in annual revenue and attracting over 22,000 customers weekly. The center is part of a master-planned community and benefits from its strategic location and high barriers to entry. Recently renovated in 2016, the property offers one available space totaling 908 square feet, ideal for a variety of retail or restaurant uses. Ample parking is provided with 649 spaces, exceeding the needs of the trade area, which boasts a daytime population of 137,000 within a three-mile radius. This "under-retailed" center presents a strong position for national retailers seeking a prime location in a high-demand area. The property's success is further underscored by its strong tenant mix and the consistent performance of its anchor tenant. This is a rare opportunity to acquire a well-positioned retail property in a highly desirable San Diego community.

• CAP approach

  CAP return

  Valuation

  6%

  $3,267,206

  6.5%

  $3,015,882

  7%

  $2,800,462

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,147,626

  Geo Method

  $8,868,757

• Alternative Use

  Use

  Valuation

  Residential

  $2,544,009

  Hospitality

  $2,330,299

  Educational

  $1,938,781

  Medical

  $2,005,459

  Retail

  $3,015,882

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

33.0219

Longitude

-117.073

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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