2202 30Th StSan Diego, CA 92104

Property Details for 2202 30Th St

Year built

2008

Lot size

0.10 AC

Property size (Sq ft)

7,557 SF

Zone code

COMMERCIAL

Property type

Retail properties

Property subtype

Retail space

APN

539-093-07-00

APU

5390930700

Description

This exceptional San Diego investment property, known as The Avery, presents a rare opportunity to acquire a stabilized, multi-tenant retail building in the desirable South Park neighborhood. Located at 2202 30th Street, San Diego, CA 92104, this 7,577 square foot storefront boasts a current occupancy rate of 100%, with six tenants generating a net operating income (NOI) of $180,000. The property features a mix of commercial suites and residential lofts, all operating on month-to-month leases. A Verizon cell tower is also situated on the property, adding to its income stream. The asking price is $4,000,000, representing a current cap rate of 4.50% and a pro-forma cap rate of 6.00%. The pro-forma NOI is projected at $240,000. The building underwent renovations in 2008. This property is ideal for a 1031 exchange, offering a strong return on investment in a vibrant and growing urban location. The property's Assesor's Parcel Number (APN) is 539-093-07. This prime corner location offers significant upside potential for future growth. Detailed financial information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $2,328,582

  6.5%

  $2,149,460

  7%

  $1,995,927

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,082,094

  Geo Method

  $6,702,790

• Alternative Use

  Use

  Valuation

  Residential

  $1,813,150

  Hospitality

  $1,660,836

  Educational

  $1,381,796

  Medical

  $1,429,318

  Retail

  $2,149,460

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7288

Longitude

-117.13

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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