This is an opportunity to own a commercial building in the Bird Rock neighborhood of La Jolla. Roughly 40% of the property is currently leased to La Jolla Vacation Rentals and 60% of the property is vacant. This provides a unique opportunity for a business operator, investor and/or developer. A business operator can purchase the building potentially with an SBA Loan and operate their business out of one suite, while collecting rent from the other tenant. An investor can purchase the property and lease out the other 60% vacant square feet and collect a healthy CAP Rate ranging between 4%-6% within the first year of ownership. A developer can take advantage of the property by building a structure that can have magnificent ocean views. Please contact the Listing Agent for a detailed Offering Memorandum on the property.

  • MLS# 190019148
  • Style Industrial
  • Sub-Type Lease
  • Status Active
  • Days On Site 15
Story(s) 0
Units 2
Listing Provided By:
Tony Franco  of  Tony Franco Realty Inc.
 
 
 
 
this listing $1,595,000
52.63%
$1,045,000 in 92037
this listing 15 on site
55.22%
33.5 on site in 92037

Location

State CA
County San Diego
City La Jolla
Zip Code 92037

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