Listed by Pacific Coast Commercial
$2,700,000
1079 & 1085-1093 3rd Avenue
Details
Property Type Retail, Multifamily
Sub Type Medical Office, Apartment Building
Square Footage 6,754
Units 3
Cap Rate 6.10%
NOI $76,194
Price per SqFt $400
Lot Size (SqFt) 36,772
Parking Spaces 40 spaces
Parking Per SqFt 5.92
Investment Type Owner/User
Retail | 6.10% CAP | 6,754 SqFt
Marketing description
Pacific Coast Commercial is pleased to present the rare opportunity to acquire two adjacent commercial assets—1079 3rd Ave and 1085–1093 3rd Ave—available for sale individually or together as a combined portfolio offering at $2,700,000. Together, these properties provide a diverse blend of retail, mixed‑use, and owner‑user potential in a highly desirable coastal market directly across from Naples Square, benefiting from exceptional pedestrian and vehicle traffic.
1079 3rd Ave features a multi‑tenant retail strip center with two well‑positioned buildings, offering an owner‑user the ability to occupy approximately ±3,880 SF (57%) while generating income from existing tenants. With several tenants on short‑term leases, the property presents value‑add potential through renewals and rental rate adjustments. Zoned C‑T (Thoroughfare Commercial), the site supports a wide range of uses including retail, office, restaurant, professional services, and veterinary clinics.
1085–1093 3rd Ave is a stable mixed‑use investment consisting of two retail units—one occupied by a national fast‑food tenant in place for over 27 years—and a residential tri‑plex providing diversified income. The asset currently produces an adjusted NOI of $76,194, reflecting a 6.10% cap rate, making it an attractive long‑term hold.
Offered separately or together, these properties provide a compelling opportunity for investors or owner‑users seeking flexibility, income stability, and future upside in a prime location.
Investment highlights
- Multi-Tenant Strip Center: Residential Tri-Plex
- 1079 3rd Ave Building Size: +/- 6,754 SF Up to 3,880 SF Can be Made Available for Owner/User
- 1085-1087 3rd Ave: Retail: Papa John’s, Third Ave Pharmacy
- 1089-1093 3rd Avenue: Residential Tri-Plex
- Property Size: +/- 36,772 SF (.84 AC)
- Ample Onsite Parking: 40 Spaces
- High Visibility Location: Strong Traffic Counts
- Sale Price: $2,700,000
- Can also be sold separate
Listing Contacts
Listed by Pacific Coast Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,194.00
$6,349.50/mo
Valuation Metrics
0
DSCR
2.82%
Cap Rate
2.82%
ROI
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