2110 Hancock StSan Diego, CA 92110

Property Details for 2110 Hancock St

Year built

1992

Lot size

0.26 AC

Property size (Sq ft)

24,888 SF

Zone code

INDUSTRIAL (M ZONE)

Property type

Retail properties

Property subtype

Retail space

APN

450-583-12-00

APU

4505831200

Description

This exceptional three-story mixed-use building, located at 2110 Hancock Street in San Diego, CA 92110, presents a compelling investment opportunity. Boasting 24,508 square feet of net rentable space, the property is currently 100% leased with a gross lease structure and offers a 5.32% cap rate, generating a net operating income (NOI) of $212,907. The asking price is $4,000,000, translating to $163.21 per square foot. Built in 1992, this Class C building features 30 parking spaces in a secured ground-level garage, supplemented by ample street parking. The property benefits from excellent visibility and signage opportunities due to its location off Interstate 5, experiencing approximately 208,627 cars daily. Its proximity to Old Town, Sports Arena, Mission Valley, Downtown San Diego, and San Diego International Airport enhances its appeal. The building is fully equipped with a brand new roof and 100% HVAC, served by an elevator. The 0.27-acre lot is zoned M-SI, and the building includes multi-tenant retail and office space. Annual rent bumps are set at 3%. The property's Assessed Parcel Number (APN) is 450-583-12. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving San Diego market.

• CAP approach

  CAP return

  Valuation

  6%

  $7,668,881

  6.5%

  $7,078,968

  7%

  $6,573,327

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,150,479

  Geo Method

  $22,074,770

• Alternative Use

  Use

  Valuation

  Residential

  $5,971,374

  Hospitality

  $5,469,746

  Educational

  $4,550,764

  Medical

  $4,707,272

  Retail

  $7,078,968

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7453

Longitude

-117.19

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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