1085-1093 3rd Avenue
Retail | 6.10% CAP
Marketing description
Pacific Coast Commercial is proud to present this retail/residential mixed-use property that offers a stable income opportunity in a highly desirable location. The property includes two retail units at 1085–87 3rd Ave, one of which is occupied by a national fast -food tenant that has been in place for over 27 years, providing long-term stability. The residential component at 1089–93 3rd Ave consists of a tri-plex, adding diversified income from both commercial and residential tenants.
Located directly across from Naples Square, the property benefits from significant pedestrian and vehicle traffic, enhancing visibility and long-term tenant demand. The asset is currently producing an adjusted NOI of $76,194, reflecting a 6.10% cap rate, making it an attractive mixed-use investment in a prime coastal market
Investment highlights
- 1089-1093 3rd Avenue: Residential Tri-Plex
- 1085-1087 3rd Avenue: Retail: Papa John’s, Third Ave Pharmacy
- Property Size: +/- 18,598 SF (.43 AC)
- Ample Onsite Parking: 19 Spaces (4.4/1,000 SF)
- High Visibility Location: Strong Traffic Counts
- Located on Iconic Commercial Corridor: 3rd Avenue, Chula Vista
- Sale Price: $1,250,000
- Adjacent parcel (1079 3rd Ave) is available & can be sold together
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