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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$1,853,550
6.5%
$1,710,970
7%
$1,588,760
Comparable approach
Method
Valuation
Relative Method
$1,271,980
Geo Method
$2,766,230
Alternative Use
Use
Valuation
Industrial / Distribution
$3,382,220
Mixed-Use / Specialty
$1,686,420
Hospitality / Lodging
$1,213,250
Office
$1,657,180
Institutional / Educational
$1,746,600
Residential Income
$2,043,520
Multifamily
$2,553,190
Automotive / Energy
$1,497,090
Parking / Income-Based Land
$534,857
Restaurant / Food Service
$837,738
Healthcare / Senior Housing
$1,748,310
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
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30Th St San Diego, CA 92104
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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