722 Grand Ave San Diego, CA 92109-3904

Exceptional opportunity to acquire a highly sought-after San Diego restaurant property. This trophy asset consists of two adjacent parcels totaling approximately 12,500 square feet, located west of Mission Boulevard, steps from the Pacific Beach boardwalk. The main parcel houses the established Firehouse Eatery, a 4,500 square foot free-standing single-tenant retail building. The restaurant has a current NNN lease with four five-year options, the first of which was exercised in February 2022, and annual rent increases based on CPI. The adjacent parcel, fronting Hornblend Street, is a parking lot currently leased to Laz Parking. This parcel is zoned CV-1-2 (Commercial Visitor), allowing for mixed-use development with a base density of one dwelling unit per 1,500 square feet of lot area and a floor area ratio (FAR) of 2.0. The property boasts a strong net operating income (NOI) of $372,960, resulting in a 3.55% cap rate. Built in 2006, this property presents a compelling investment opportunity in a prime coastal location, within a transit priority area. The asking price is $10,500,000. APN: 423-022-07-00