4750 Oceanside BlvdOceanside, CA 92056

Property Details for 4750 Oceanside Blvd

Year built

1990

Lot size

2.73 AC

Property size (Sq ft)

33,332 SF

Zone code

COMMERCIAL

Property type

Strip malls

Property subtype

Neighborhood centers

APN

161-540-19-00

APU

1615401900

Description

This exceptional multi-tenant retail property, Oceanside Square, presents a compelling value-add investment opportunity. Located at 4750 Oceanside Blvd in Oceanside, CA, this Class B retail center encompasses 35,013 square feet across two single-story buildings on a 118,918 square foot lot. Currently boasting 96.9% occupancy with 21 diverse tenants, the property generates a strong NOI of $749,873, representing a 6.25% cap rate with a pro-forma cap rate of 6.83%. The asking price is $12,000,000, translating to $342.73 per square foot and $100.91 per square foot for land value. Built in 1990 and renovated in 2021, the center features 125 parking spaces and benefits from NNN leases with staggered expirations, minimizing rollover risk. The property's tenant mix includes internet-resistant businesses, ensuring consistent foot traffic and income generation. Significant upside potential exists due to below-market rents, currently averaging $1.94 per square foot, approximately 25% below market rates. This presents a unique opportunity to increase rental income and further enhance the property's NOI. The property's location in a high-growth area of Oceanside, with a population of 172,199 and an average household income of $109,818, ensures long-term viability and strong tenant demand. Recent capital improvements include a new roof (2022), parking lot resurfacing (2024), landscaping updates (2024), and exterior paint and LED lighting (2019). The fee-simple ownership structure and 1031 exchange eligibility further enhance the investment appeal. This is a rare opportunity to acquire a well-positioned, high-performing retail center with significant upside potential in a thriving coastal California market.

• CAP approach

  CAP return

  Valuation

  6%

  $10,270,779

  6.5%

  $9,480,719

  7%

  $8,803,525

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,594,333

  Geo Method

  $29,564,298

• Alternative Use

  Use

  Valuation

  Residential

  $7,997,342

  Hospitality

  $7,325,522

  Educational

  $6,094,748

  Medical

  $6,304,356

  Retail

  $9,480,719

Location Insight

City

Oceanside

County

San Diego

State

California

Latitude

33.2168

Longitude

-117.272

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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