764 5Th AveSan Diego, CA 92101

Property Details for 764 5Th Ave

Year built

1901

Property size (Sq ft)

10,000 SF

Property type

Retail properties

Property subtype

Restaurants

Description

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.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7134

Longitude

-117.16

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