Cast Capital Partners
Listed by CAST CAPITAL PARTNERS, Cast Capital Partners
$5,200,000
870 Garnet Ave
Details
APN 4155931900
Property Type Retail, Land
Sub Type Residential, Commercial
Square Footage 480
Pro-Forma Cap Rate 3.80%
Pro-Forma NOI $193,833
Buildings 1
Lot Size (SqFt) 9,353
Parking Spaces 27 spaces
Parking Per SqFt 56.25
Investment Type Redevelopment
Ground Lease No
A+ Corner Lot with Stamped Plans | 3.8% Cap Covered Land Play | 9,353 SF
Marketing description
870 Garnet Ave presents a rare, execution-ready development opportunity in the heart of Pacific Beach, just two blocks from Crystal Pier and surrounded by an exceptional amenity base of dining, shopping, hospitality, and entertainment.
This fully entitled, 9,353 SF corner lot comes with approved plans for a 29-unit, three-story multi-family building featuring a diverse mix of studios, one-bedroom, and two-bedroom residences averaging 589 SF, all above a sub-basement parking level.
The existing surface parking lot generates approximately $193,833 in annual income at a 3.8% cap rate, allowing an investor to profit from the land as-is while planning their next move.
Investment highlights
- Approved 29-unit multi-family development plans included
- Situated on highly visible corner of Garnet Ave & Bayard Ave
- Surrounded by a variety of amenities on the heart of Pacific Beach
- Proforma Parking Cap Rate: 3.8%
- Proforma Parking Income: $193,833
Listing Contacts
Cast Capital Partners
Listed by CAST CAPITAL PARTNERS, Cast Capital Partners
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Zoning
CC-4-2 CommercialNeighborhood CommercialCommercial Community
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View all 188 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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