1035 8Th AveSan Diego, CA 92101

Property Details for 1035 8Th Ave

Lot size

0.47 AC

Zone code

COMMERCIAL

Property type

Retail properties

Property subtype

Parking lots & garages

APN

534-184-08-00

APU

5341840800

Description

This exceptional .47-acre commercial land parcel in San Diego's East Village, located at 1035 Eighth Avenue (APN 534-184-08), presents a remarkable development opportunity. Zoned for Neighborhood Mixed Use, this property offers unparalleled versatility for a range of projects, including hotels, multifamily residential, and mixed-use developments. Its strategic location places it steps from the Gaslamp District, providing easy access to San Diego's vibrant cultural scene, dining, entertainment, and nightlife. Excellent transportation links further enhance its desirability. The asking price is $13,999,999. For developers focused on low-income housing, a unique 99-year ground lease option is available, offering a financially feasible pathway to create affordable housing solutions within this dynamic urban environment. This long-term lease provides a significant advantage, aligning with community goals for equitable housing. The seller is also willing to finance 50% of the purchase price, making this an even more attractive proposition for qualified buyers. This is a rare chance to create a landmark project in one of San Diego's most sought-after neighborhoods, shaping the future of the city's skyline and contributing to the thriving East Village community. The property's central location and flexible development options make it an ideal investment for visionary developers seeking to make a lasting impact.

• CAP approach

  CAP return

  Valuation

  6%

  $6,292,439

  6.5%

  $5,808,406

  7%

  $5,393,519

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,328,630

  Geo Method

  $18,112,700

• Alternative Use

  Use

  Valuation

  Residential

  $4,899,607

  Hospitality

  $4,488,014

  Educational

  $3,733,975

  Medical

  $3,862,392

  Retail

  $5,808,406

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7162

Longitude

-117.157

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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