Listed by Cushman & Wakefield - San Diego, California
$7,500,000
9918 Hibert St
Details
APN 3191806700
Property Type Office
Sub Type Traditional Office
Square Footage 45,582
Tenancy Single
Broker Co-Op Yes
Class B
Year Built 1983
Buildings 1
Stories 3
Acreage 1.100
Zoning CC-1-3, 1DU/1,500 SF
Parking Spaces 125 spaces
Parking Per SqFt 2.74
Investment Type Redevelopment
Owner-User or Residential Redevelopment | 45,582 RSF on 1.10 Acres | Scripps Ranch
Marketing description
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 9918 Hibert, San Diego (“The Property”) — The Property offers significant potential for redevelopment into a residential complex or can serve as an owner-user facility. Strategically located in a thriving commercial district, the Property is poised for transformation to meet the growing demand for residential units in a fantastic urban setting in Central San Diego.
The 1.10 acre site is well-located near Interstate 15 in Scripps Ranch’s amenity-rich commercial district, adjacent to substantial retail and dining, blocks away from Scripps Ranch High School and recreational parks, and with immediate connectivity to sought-after executive housing along Interstate-15 between Highways 52 and 56.
This 45,582 square foot, three-story, office building offering surface parking surrounding the building and secured underground parking below the building with elevator access to the upper floors. The Property is ideally situated immediately off the freeway in the heart of San Diego’s I-15 Corridor Micro-Market. The unique podium parking structure provides exclusive and direct access to the building, enhancing convenience and security for tenants and visitors alike.
With its prime location, exceptional access, and amenity rich environment, the Property offers an outstanding opportunity for investors and occupiers to capitalize on the growing demand for residential units in the rapidly growing area of Central San Diego.
Investment highlights
- Redevelopment Potential
- San Diego is experiencing a pressing need for more residential housing due to several interrelated factors such as population growth, high cost of living, housing supply constraints and quality of life considerations.
- Ideal User Opportunity
- 9918 Hibert Street presents an ideal user opportunity to own for less than leasing while creating substantial wealth. Partial users will benefit from existing income and investment income driven by 1-15 Corridor tenant demand that outperforms the greater San Diego Markets fundamentals and the Property’s prime location and unique attributes. Ask about our Buy vs Lease analysis!
- Partial Covered Land Play
- Seller can remain in approximately one-third of the 1st floor on a short-term lease with income of approximately $12,000 per month to the Buyer.
- Accessible & Amenity Rich Business Setting
- The Property is situated in an accessible and amenity-rich business setting, with the SR Ranch Center just a short walk away, offering a variety of dining and shopping options like Trader Joe’s, Board & Brew, Filippi’s Pizza Grotto and Breakfast Republic, along with seven additional restaurants and 16 other medical, fitness, and retail storefronts. Occupiers also benefit from the recreational opportunities at nearby Lake Miramar, where they can enjoy jogging, kayaking, and fishing. Additionally, across the freeway lies the Mira Mesa Market Shopping Center, featuring 1.2 million square feet of additional retail space, further enhancing the area’s convenience and appeal.
- Tech And Defense Industry Tailwinds
- San Diego has always been driven by the significant defense industry presence and has recently emerged as a preferred market for tech tenants, with Apple recently substantially expanding their campus in neighboring Rancho Bernardo and nearby UTC.
Listing Contacts
Listed by Cushman & Wakefield - San Diego, California
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