2300 Boswell Rd Chula Vista, CA 91914-3523
- Medical offices
- 9,999 SF
- 6.96 lot acres
Dec 09, 2024
Current Use by Public Records
- Laura Alatorre Loan Officer - Point Mortgage San Diego / Mortgage Lender
- LifeStance Therapists & Psychiatrists Chula Vista / Mental Health Clinic / Child Psychiatrist
- Tricare Outpatient Clinic / Doctor
- Sylvia Vella / Counselor
- Easterseals / Non-Profit Organization
Property Details for 2300 Boswell Rd
- Year built
- 1992
- Lot size
- 6.96 lot acres
- Property size
- 9,999 SF
- Zone code
- INDUSTRIAL (M ZONE)
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 595-231-35-00
- APU
- 5952313500
Description
This exceptional Class A office building, located at 2300 Boswell Rd, Chula Vista, CA 91914, presents a compelling investment opportunity. The 132,669 square foot, two-story building sits on a 6.95-acre lot and boasts a 91.7% occupancy rate, generating a strong net operating income (NOI) of $3,107,720, representing a 9.50% cap rate. Built in 1992 and extensively renovated in 2020, the property features a modern design and high-quality finishes. The asking price is $32,713,000, translating to $246.58 per square foot. Anchored by credit tenants including San Diego Regional Center, San Diego Credit Union, US Naval Clinic (GSA Tenant), California Medical Behavioral Health, and Coldwell Banker, the property benefits from a weighted average lease term of approximately 14.38 years. The building offers an exclusive, fully equipped conference room and 14-foot deck-to-deck slabs, allowing for flexible office layouts. Its prime location within the Eastlake master-planned community provides unparalleled access to major retail centers, including Sprout's, Trader Joe's, Target, and Lowe's, as well as Scobee Park, a seven-acre recreational area. The Eastlake office market consistently outperforms other San Diego submarkets, with low vacancy rates and strong demand, ensuring a stable and appreciating asset. Recent improvements include a $2.24 million renovation encompassing lobby upgrades, landscaping enhancements, and entrance improvements, along with the completion of over 37,800 square feet of spec suites. This property serves a large population base, approximately 1,000,000 residents within a 10-mile radius, representing 30% of San Diego's total population.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chula Vista
- County
- San Diego
- State
- California
- Longitude
- -116.966
- Latitude
- 32.6547
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
