5055 Avenida EncinasCarlsbad, CA 92008

This exceptional two-story office building, totaling 20,375 square feet, is situated on a one-acre lot in Carlsbad, California. Located less than a quarter mile from Interstate 5 and a short walk to the beach, this property offers unparalleled convenience and accessibility. Built in 1985 and extensively renovated in 2023, the building boasts a modern façade, updated windows and doors, new exterior lighting, and resurfaced parking. The renovation also included a complete HVAC system upgrade with individual climate controls, new desert landscaping, a fully updated lobby, a brand-new elevator, and a state-of-the-art security system. Currently operating at 93% occupancy with ten units, the property features a flexible lease structure, with all current leases expiring before 2025, making it ideal for an owner-user or a single tenant. The ample parking includes an 80-space reciprocal lot with a 4.00/1,000 SF parking ratio. The asking price is $8,500,000, representing a current cap rate of 3.17% and a pro-forma cap rate of 8.63%. The Net Operating Income (NOI) is currently $269,610, with a pro-forma NOI of $733,500. The property's address is 5055 Avenida Encinas, Carlsbad, CA 92008, and its APN is 210-090-44-00. This presents a unique investment opportunity in a highly desirable location.