The Reserve
Trophy Asset | Expansive Zoning w. Future Upside | Fully Stabilized
Marketing description
The Reserve stands in a class of its own. Located at the northern entry point into Carlsbad Village, this premier property offers unmatched visibility and a commanding presence. Between 2022-2025, ownership completed extensive renovations, including a refreshed exterior façade, new outdoor areas and landscaping, and an updated lobby. All interior suites feature newly constructed, high-end creative improvements.
The existing three‑story office building offers developers a rare covered‑land opportunity, with in‑place income generating an immediate 6% return on cost (NOI: $702,912). The property is positioned for significant land value appreciation over the next decade, supported by annual rent escalations of 3%. This ocean view, 1 acre site offers a variety of future development and redevelopment opportunities
The Reserve is fully stabilized and recently renovated, generating strong in‑place cash flow from existing tenants while maintaining rollover flexibility ideal for an owner/user investor. The newly constructed improvements further enhance adaptability, creating a true turn‑key leasing environment for future rollover. This reduces costs for new ownership and positions the asset favorably for near‑term lease‑up.
The current suite configuration provides an opportunity for a future investor to place a commercial condominium map on the Property providing the ability to sale the suites individually.
ACCESS OM: https://thereserve2333statest.sharplaunch.com/
Investment highlights
Unobstructed Views of the Pacific Ocean and Buena Vista Lagoon with Operable Windows
Premium Finishes Not Found in Any Other Office Building in the Village
Steps to Michelin Star Dining, Beaches & Parks, New Housing and a Major Transit Station
Brand New, Top-Tier Interior Improvements Throughout; 76% Medical-Oriented
Excellent On-site Parking 3.3:1,000
Incomparable Location at the Gateway to Carlsbad Village
Numerous Outdoor Spaces for Work or Relaxation
Building Size :19,896 SF Tax Record / 15,702 SF Rent Roll.
Year Built 1977 / Ren. 2022-2025
Zoning: Village Center (VC)
Occupancy :100%
Land Area :43,124 SF / 0.99 Acres
In-Place Cap Rate : 6%
NOI :$702,912
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