8923 La Mesa Boulevard
8923 La Mesa Boulevard, La Mesa, CA 91942-9056
Marketing description
This is an exclusive, unique, and rare opportunity to purchase the existing 2,743 square foot, two-story retail and office building, lies on .31 acres (13,337 sf) at 8923 La Mesa Boulevard, La Mesa, California. With the dentist lease expiring July 31, 2026, coupled with other existing occupants on month to month tenancy, there is the opportunity to potentially have vacant by August 1st.
After 4+ years in the entitlement process, the property owners have recently obtained formal city council approval for the potential redevelopment of the site to expand the existing building to 3 stories, approximately 6,147 total building square feet (1st floor – 1,873 square feet, 2nd floor – 2,174 square feet, 3rd floor – 2,100 square feet) including a roof-top restaurant and bar, with full liquor license capability, and outdoor seating.
The respective redevelopment opportunity would lie upon three separate parcels of land, with a total of 18,806 square feet (0.44 acre). The existing retail and office building is 2,743 square feet, with three tenants, including a salon run by an owner/operator, a dentist, and an athletic therapy provider. There is an existing 400-amp electrical panel, with approval to expand to 800 amps due to the proposed new kitchen and elevator.
Investment highlights
- Exclusive, Unique and Rare Opportunity to purchase existing 2,743 SF, 2-story Retail and Office Building
- Lying over 2 parcels, .31 acres, 13,337 square feet, with existing Tenant revenue
- Perfect Owner / Operator opportunity, for Medical or other use
- 3 existing tenants: Dentist (1,800 sf), Salon – owner / operator, Athletic Therapy
- Dentist lease expires July 31, 2026, interested in staying on-site
- Salon and Athletic Trainer on month to month tenancy
- City Council Approved redevelopment to 3 stories, approximately 6,147 total building square feet
- Redevelopment includes roof-top restaurant and bar, with full liquor license capability, and outdoor seating
- Strong intersection Average Daily Traffic of 43,450
- 197,500+ ADT on Interstate 8 (215,000 peak mo.), 170,000+ ADT State Highway 125
- HUGE PRICE REDUCTION – Selling Price reduced from $2,495,000 to $2,100,000
- Seller Motivated – Huge Price Reduction - Freestanding 2,743 sf office building, 2 story, 3 Tenants over 2 parcels…Asking $2,100,000 (Reduced $400,000).
- Owner User / Buyer Opportunity, with the flexibility to own and operate all 2,743 sf. Dentist Office lease expires July 31, 2026, with the interest to extend tenancy.
- Potential Additional Purchase Alternative - Tremendous investment opportunity, to acquire a 3rd parcel (residence for parking field - not a part of $2.495 asking), with existing, city-approved redevelopment to include a 3rd-story restaurant and bar, 6,197 sf building, with outdoor seating, full liquor license, coupled with the existing rent revenue,
- Affluent trade area with an average household income of over $110,000 within 1 mile, providing strong support for almost 2,000 businesses in the area.
- Supported by a strong intersection average daily traffic (ADT) of 43,450, with 22,643 ADT on La Mesa Boulevard and 20,807 ADT on Grossmont Boulevard.
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