1555 Laurel Bay WaySan Diego, CA 92154

Property Details for 1555 Laurel Bay Way

Year built

2008

Property size (Sq ft)

18,832 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

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.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.5683

Longitude

-116.955

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