Garnet Avenue Mixed Use
Pacific Beach Value Add
Marketing description
1560-1564 Garnet Ave at 1560-1564 Garnet Ave, San Diego, CA 92109 presents a rare opportunity to acquire a renovated mixed-use retail asset in the heart of Pacific Beach. Renovated in 2024, this ±7,365 SF multitenant storefront property sits on a ±9,365 SF parcel with approximately 75 feet of prime Garnet Avenue frontage. The property features 3 commercial suites, 2 residential units, and refrigerated storage, creating a flexible income-producing layout well-suited for investors seeking stable cash flow with future upside. Additional highlights include gated alley access, 3 on-site parking spaces, outside dining, and HVAC upgrades completed in 2022 for one of the major tenant spaces. Positioned near the signalized intersection of Garnet Avenue and Ingraham Street, the property benefits from outstanding visibility and traffic counts exceeding 21,000 VPD on both corridors, surrounded by major retailers, dining, and daily-needs shopping in one of San Diego’s most vibrant coastal neighborhoods.
PLEASE DO NOT DISTURB TENANTS.
Investment highlights
Current financials include NOI of $196,323 and a 5.17% cap rate at the $3,800,000 asking price.
Select in-place rents offer potential mark-to-market opportunity.
The 55 Thai space also offers future divisibility potential to add an additional tenant at FMR while downsizing 55 Thai.
Conversion of gross leases to NNN will add to NOI as well.
All tenants have annual rent increases for some inflation protection.
Owner will consider seller financing at acceptable terms.
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