2210 Encinitas BlvdEncinitas, CA 92024

Property Details for 2210 Encinitas Blvd

Lot size

1.80 AC

Zone code

COMMERCIAL

Property type

Retail properties

Property subtype

Retail space

APN

259-231-63-00

APU

2592316300

Description

Rincon Plaza, located at 2210 Encinitas Blvd in Encinitas, CA 92024, is a four-building medical office and retail complex totaling 22,761 square feet on a 78,408 square foot lot. Built in 1982, this property features 24 units ranging from 400 to 3,000 square feet, currently boasting 98% occupancy. The property enjoys a strong Net Operating Income (NOI) of $662,906, resulting in a 5.52% cap rate. The asking price is $12,000,000, translating to $527 per square foot. The flexible LC - Local Commercial zoning allows for a diverse tenant mix, currently including health and wellness, professional services, medical, and retail businesses. Ample surface parking (3.69 spaces per 1,000 square feet) and excellent visibility on Encinitas Boulevard enhance tenant appeal. Situated in a high-traffic area near the intersection of Encinitas Boulevard and Manchester Avenue, this property benefits from a strong demographic profile in one of San Diego's wealthiest zip codes, offering significant upside potential for rental income growth. The property's exceptional condition reflects years of meticulous care, ensuring lasting value and appeal. This investment opportunity combines a prime location, strong financial performance, and flexible zoning, making it an attractive asset for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $24,160,304

  6.5%

  $22,301,818

  7%

  $20,708,832

• Comparable approach

  Method

  Valuation

  Relative Method

  $31,978,414

  Geo Method

  $69,545,104

• Alternative Use

  Use

  Valuation

  Residential

  $18,812,418

  Hospitality

  $17,232,074

  Educational

  $14,336,884

  Medical

  $14,829,951

  Retail

  $22,301,818

Location Insight

City

Encinitas

County

San Diego

State

California

Latitude

33.0385

Longitude

-117.24

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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