138-140 Civic Center Dr
Charming Owner-User Opportunity w/ In-Place Income | Vista, CA
Marketing description
FLEXIBLE ZONING WITH RESIDENTIAL UPSIDE
►The building is located within the Downtown Vista Specific Plan, which allows for a variety of retail, professional and medical office uses.
►Site is designated within Vista’s new General Plan Update 2050 to be rezoned as a high density “Mixed Use - General” which allows for a maximum density of 80 units per acre and expected to be approved Q2 2025.
THRIVING AMENITY RICH SUBMARKET
►Vista significantly benefits from its central location in the heart of North County only 7-miles from the coast and nearly equal distances from interstate 5 and 15 via the 78 freeway which services all of San Diego and Southern California. For this reason, Vista is highly sought after for regional North County tenants wanting to open one location to service all of North County.
►There has been a significant revitalization of Vista’s downtown, with new residential and restaurant operators building quality product and attracting a younger more talented workforce.
►Vista has a strong and diverse economy built upon a wide range of business clusters including Information and Communications Technology, Precision Manufacturing, Life Science, and Food Services. One of Vista’s fastest-growing industry sectors has been craft breweries (classified as Food Services) and is considered California’s craft beer capital as it has the most breweries per capita of any California city.
Investment highlights
CHARMING OWNER/USER OPPORTUNITY WITH IN-PLACE INCOME
►Excellent high profile corner location with phenomenal signage opportunity | Former 5,360 SF bank branch space is ideal for an owner-user | Adjacent to Vista Civic Center and within a short walk to abundant food options in downtown Vista and Vista Village.
►Flexible suite sizes from 800 SF to 5,360 SF bode well for San Diego’s tenant base as over 90% of San Diego companies have less than 15 employees. Additionally, the average tenant size is approximately 3,500 SF. The building caters to this market and was designed and built to accommodate various tenant size requirements.
►In-place rents are approximately 50% below market providing great upside for a new owner.
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