722 Grand Ave San Diego, CA 92109
- Turn key restaurants
- 3,850 SF
- 0.13 lot acres
Current Use by Public Records
- San Diego Happy Hour Spots Pacific Beach / Pub / Lounge
- Firehouse American Eatery & Lounge / Bar / Lounge
Property Details for 722 Grand Ave
- Year built
- 1974
- Lot size
- 0.13 lot acres
- Property size
- 3,850 SF
- Zone code
- COMMERCIAL
- Property type
- Turn key restaurants
- APN
- 423-022-07-00
- APU
- 4230220700
Description
Exceptional opportunity to acquire a highly sought-after San Diego restaurant property. This trophy asset consists of two adjacent parcels totaling approximately 12,500 square feet, located west of Mission Boulevard, steps from the Pacific Beach boardwalk. The main parcel houses the established Firehouse Eatery, a 4,500 square foot free-standing single-tenant retail building. The restaurant has a current NNN lease with four five-year options, the first of which was exercised in February 2022, and annual rent increases based on CPI. The adjacent parcel, fronting Hornblend Street, is a parking lot currently leased to Laz Parking. This parcel is zoned CV-1-2 (Commercial Visitor), allowing for mixed-use development with a base density of one dwelling unit per 1,500 square feet of lot area and a floor area ratio (FAR) of 2.0. The property boasts a strong net operating income (NOI) of $372,960, resulting in a 3.55% cap rate. Built in 2006, this property presents a compelling investment opportunity in a prime coastal location, within a transit priority area. The asking price is $10,500,000. APN: 423-022-07-00
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
- -117.256
- Latitude
- 32.7949
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
