789 Harbor DrSan Diego, CA 92101

  • Retail properties
  • 9,999 SF
For Sale

Property Details for 789 Harbor Dr

Lot size
6.29 AC
Property size (Sq ft)
9,999 SF
Zone code
COMMERCIAL
Property type
Retail properties
Property subtype
Community centers
APN
760-015-37-00
APU
7600153700

Description

This exceptional 73,823 square foot restaurant property, known as "The Headquarters," presents a compelling investment opportunity in San Diego's vibrant Marina District. Situated at the intersection of West Harbor Drive and Pacific Highway, this open-air shopping center benefits from a high-traffic location, attracting both local residents and the millions of tourists visiting downtown San Diego annually. Currently boasting a 16.7% vacancy rate, this property offers significant value-add potential through lease-up, while simultaneously providing stable cash flow secured by a weighted average lease term of 10 years. The diverse tenant mix includes a blend of food and beverage establishments, daily needs retailers, and apparel stores, catering to a broad customer base. The property's strategic adjacency to the Manchester Grand Hyatt, a 1,628-room hotel with extensive conference facilities, further enhances its appeal. As the only waterfront retail environment in the area, alongside Seaport Village, "The Headquarters" enjoys a prime position within a thriving entertainment, dining, and nightlife district in one of America's most popular cities. This presents a rare chance to acquire a generational asset in a rapidly expanding trade area with strong leasing momentum and top-performing tenants. The property's unmatched walkability to surrounding hospitality venues adds to its overall desirability and investment potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,081,049
    6.5%
    $2,844,045
    7%
    $2,640,899
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,078,055
    Geo Method
    $8,868,757
  • Alternative Use

    Use
    Valuation
    Residential
    $2,399,058
    Hospitality
    $2,197,524
    Educational
    $1,828,315
    Medical
    $1,891,193
    Retail
    $2,844,045
789 Harbor Dr, San Diego, California

Location Insight

City
San Diego
County
San Diego
State
California
Latitude
32.7105
Longitude
-117.171
CBSA code
41740
CBSA name
SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$428,586
$13,960,000
$20,940,000
$34,900,000
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