722 5Th Ave San Diego, CA 92101
- Hotels
- 12,020 SF
- 0.11 lot acres
Current Use by Public Records
- Osteria Panevino / Italian Restaurant / Takeout Restaurant
- Self Storage / Self-Storage Facility
Property Details for 722 5Th Ave
- Lot size
- 0.11 lot acres
- Property size
- 12,020 SF
- Zone code
- INDUSTRIAL (M ZONE)
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 535-092-07-00
- APU
- 5350920700
Description
This exceptional three-story, 11,906 square foot mixed-use building in San Diego's vibrant Gaslamp Quarter presents a compelling value-add investment opportunity. Located at 722-728 5th Avenue, this 1901-built property (renovated in 2020) boasts a 6.53% cap rate and a net operating income (NOI) of $473,293, with 100% occupancy. The ground floor houses Osteria Paneviro & Asti Ristorante, generating an average rent of $6.73 per square foot (NNN), with leases expiring in March 2026 and December 2026. The second and third floors are occupied by the Gaslamp Hostel, currently renting at $1.70 per square foot (NNN), with a lease expiration in March 2027. All tenants have fair market value options with CPI increases. The hostel's current rent is significantly below market value (approximately 50% of current market rates), representing a substantial value-add potential for the new owner. The property features three units and is situated on a prime location in San Diego, CA (zip code 92101), with an APN of 535-092-07-00. The asking price is $7,250,000, translating to $608.94 per square foot. This is a rare chance to acquire a well-positioned, income-producing asset with significant upside potential.
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
- -117.16
- Latitude
- 32.7129
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
