For Sale
$5,649,000

1555 Laurel Bay WaySan Diego, CA 92154

Otay Mesa Manufacturing/Warehouse, Leaseback Option

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 18,832 square foot industrial property in San Diego's Otay Mesa is offered for sale at $5,649,000 ($299.97/sq ft). The Class B building, constructed in 2008, features a two-story design with a 25-foot clear height and comprises eight units within a single building. It boasts a 6.39% pro-forma cap rate and a $361,000 pro-forma NOI. The property is zoned I-7 and includes a significant benefit: a Cannabis CUP approval, making it ideally suited for cannabis-related businesses. Its strategic location in Otay Mesa offers easy access to major transportation routes, facilitating efficient distribution and supply chain management. The property's modern infrastructure is tailored to support cannabis operations, and its spacious layout allows for future expansion. A leaseback option is available. The sale includes a grandfathered SDG&E 45KW PV solar rate. This presents a unique opportunity for investors and operators seeking a compliant, high-growth potential asset in a thriving San Diego submarket, benefiting from nearshoring trends and proximity to key national corporate tenants such as Amazon, Costco, FedEx, UPS, and Panasonic. The upcoming Route 11 opening will further enhance cross-border access to Tijuana. APN: 646-240-79 (24,26,28,30,32,34). The property is offered as an owner/user investment. Lease type is NNN.

Highlights

  • Leaseback option available.
  • Prime San Diego industrial location in a high-growth submarket, ideal for nearshoring and cross-border distribution.
  • Strategic location for Tijuana trade, benefiting from the new Route 11.
  • Surrounded by major national tenants including Amazon, Costco, FedEx, UPS, and Panasonic.
  • Grandfathered SDG&E 45KW PV solar rate.
  • Eight individual condos.

Property Details for 1555 Laurel Bay Way

Property type
Warehouses, Industrial properties
Square Feet
18,832 SF
Class
B
Year Built
2008
Buildings
1
Stories
2
Units
8

Location Insight

City
San Diego
County
San Diego
State
California
Latitude
32.568312678907
Longitude
-116.95535214081
1555 Laurel Bay Way, San Diego, California

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1555 Laurel Bay Way
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