764 5Th AveSan Diego, CA 92101

This exceptional three-story mixed-use building in San Diego, CA (APN 535-092-13-00), offers a compelling value-add investment opportunity. Spanning 10,000 square feet, the property boasts a strong NOI of $92,013 and a 1.94% cap rate, with an asking price of $4,750,000 ($475/SF). Built in 1901 and renovated in 2024, the building comprises nine units. The ground floor and basement currently house the Red Ivy Lounge (BANG on 5th), operating under a lease with a rent of $4.75 per square foot (NNN) and expiring in April 2026, with two five-year options at fair market value. The tenant has significantly contributed to their own tenant improvements. The second and third floors are currently vacant but are permitted for eight multi-family units, presenting a significant opportunity to increase rental income and property value. This property presents a rare chance to capitalize on a thriving San Diego location with substantial upside potential through the development of the vacant residential units. The building's location at 764 Fifth Avenue, San Diego, CA 92101, places it in a high-demand area. This is an ideal investment for those seeking a mixed-use property with strong existing income and significant future development potential. The property is currently 50% leased.