547-549 Ninth AveSan Diego, CA 92101

Property Details for 547-549 Ninth Ave

Year built

2022

Lot size

0.07 AC

Property size (Sq ft)

9,000 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional investment opportunity presents Hotel Gigi, a 20-key boutique hotel located in San Diego's vibrant Gaslamp Quarter. Built in 2022, this two-story building boasts 9,000 square feet, including a brand-new, 1,800 square foot restaurant space ready for a new operator or lease. The hotel currently enjoys a 78% occupancy rate, generating a pro-forma NOI of $769,697 and a pro-forma cap rate of 9.62%. The asking price is $8,000,000, representing a price per key of $400,000 and a price per square foot of $888.89. The property sits on a 0.07-acre lot and is zoned CCPD-ER. Its prime location offers easy access to Petco Park, numerous restaurants, and major attractions within the Gaslamp Quarter. Furthermore, it's minutes away from the San Diego Zoo, SeaWorld, the Children's Museum, and San Diego International Airport, making it highly attractive to tourists and local clientele. This value-add opportunity allows a new owner to maximize potential through improved management or operational strategies. The property's strong performance and strategic location make it an ideal investment for those seeking a high-return hospitality asset in a thriving market. The APN is 535-121-02-00, and the ownership is fee simple.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

33.1086

Longitude

-117.098

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