230 Birmingham DrEncinitas, CA 92007

Property Details for 230 Birmingham Dr

Year built

1954

Property size (Sq ft)

8,252 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a two-story, 8,252 square foot storefront building situated on a 7,649 square foot lot in the highly desirable Cardiff-by-the-Sea area of Encinitas, California. The property, built in 1954 and renovated in 2005, boasts a prime location offering ocean views and proximity to numerous retail, restaurant, and service amenities. Currently housing three tenants under a triple net (NNN) lease, the property features a multi-tenant configuration with a total of 8,252 rentable square feet. The asking price is $7,014,200, translating to $850 per square foot. The building is zoned for Office Professional use. The current leases expire on December 31, 2021, presenting a significant owner-user opportunity, particularly given the availability of a 4,254 square foot suite. The property's strong financial performance is reflected in a pro-forma net operating income (NOI) of $420,506 and a pro-forma capitalization rate of 6.00%. This location benefits from its central position between San Diego and Orange County, and enjoys an average household income within a one-mile radius of $150,497. The property's address is 230 Birmingham Drive, Encinitas, CA 92007, and its APN is 260-352-26-00. This is a rare opportunity to acquire irreplaceable real estate in a highly sought-after coastal community.

Location Insight

City

Encinitas

County

San Diego

State

California

Latitude

33.0238

Longitude

-117.282

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