4567 Federal Blvd San Diego, CA 92102-2506

This exceptional 41,249-square-foot industrial distribution warehouse, located at 4567 Federal Blvd in San Diego, CA 92102, presents a compelling investment opportunity. The property, built in 1970 and situated on a 1.9-acre lot (APN 541-611-30), is currently 100% leased to Action Gypsum Supply West, a leading building materials supplier, under a NNN lease expiring August 31, 2028 (3.8 years remaining). The lease includes one five-year option at fair market value. The building features 6 loading docks, a 20-foot ceiling height, and is zoned IL-2-1. Its prime location offers easy access to major freeways (I-5, I-805, I-15, and CA-94), placing it strategically within San Diego's East City submarket. The property benefits from its adjacency to a recently constructed, large distribution center, and enjoys a current rent 20% below market rates, presenting significant future upside potential. The strong demand for industrial space in this supply-constrained submarket (approximately 2.2% vacancy) further enhances the investment appeal. The fenced and secured site includes outdoor staging and storage areas. This core+ investment offers a stable income stream backed by a reputable tenant with a significant western US presence.