540 27Th St San Diego, CA 92102

Property Details for 540 27Th St

Year built

1967

Property size

3,000 SF

Property type

Commercial real estate

APN

535-282-08-00

Description

This exceptional mixed-use property, located at 540 27th Street in San Diego, California's Grant Hill neighborhood (zip code 92102), presents a unique investment opportunity. The 3,000 square foot building, constructed in 1967, sits on a 4,732 square foot lot and features two stories. Currently 100% occupied by a single tenant, the property offers significant potential for owner-users or investors. The building comprises three units and is zoned CC-3-6 Mixed Use, allowing for diverse uses. The first floor currently serves as a sanctuary, while the second floor is configured as a large open meeting room, office, and kitchen. Future uses could include converting the first floor into retail or office space and the second floor into a three-bedroom, one-bathroom apartment. The property benefits from its location within a Transit Priority Area, opening possibilities for redevelopment incentives and density bonuses through the Complete Communities: Housing Solutions program. Its proximity to State Route 94 and Interstate 5, along with its walking distance to Grant Hill Community Park and public transit, enhances its appeal. Furthermore, its location within an Opportunity Zone provides significant federal tax advantages for qualified investors. The property is being offered at $1,650,000 ($550 per square foot) and is available vacant upon close of escrow, or the current tenant may consider a leaseback agreement. On-site secured parking is available. This is a rare opportunity to acquire a property in a rapidly gentrifying community with increasing property values due to ongoing renovations, redevelopment, and infrastructure improvements, including underground utility upgrades. The property's prime location offers easy access to East Village, Downtown San Diego, Balboa Park, and San Diego International Airport.