Listed by Marcus & Millichap - San Diego
Unpriced
520 E Carmel St
Details
APN 220-250-16
Property Type Industrial, Special Purpose
Sub Type Warehouse, School
Square Footage 41,000
Net Rentable (SqFt) 41,000
NOI $750,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 02/28/2034
Remaining Term 7.6
Rent Bumps Yes
Pro-Forma NOI $840,000
Year Built 1955
Year Renovated 2021
Buildings 1
Acreage 4.930
Zoning Residential-3-10
Parking Spaces 60 spaces
Parking per 1,000 SqFt 1.46
Investment Type Net Lease
Lease Commencement 03/01/2024
Ground Lease No
Ceiling Height 20'
Industrial | 41,000 SqFt
Marketing description
520 E Carmel St is a 41,000-SF, single-tenant, NNN-leased warehouse building. Located in San Marcos, CA, the Property is less than half a mile to CSU San Marcos and 34 miles to Downtown San Diego.
Originally constructed in two phases, in approximately 1955 and 2000, the Property later underwent significant renovations under new ownership in 2021, culminating in its full transformation into a charter school. Tenanted since 2018, Baypoint Preparatory Academy has invested significant capital with approximately $4.5M invested to date and plans to pursue $1.5M in additional expansion. The Property currently offers ten (10) classrooms, two (2) grade-level doors, 20' clear height, HVAC systems, and an expansive approximately 4.93 AC lot.
Investment highlights
- 41,000-SF Facility with 8-Year NNN Lease with Two Large Rental Increases and 3% Annual Increases Thereafter
- CURRENT NOI - $750,000
- TENANT INVESTMENT - Total ±$4.5M and Planned ±$1.5M Expansion
- ENROLLMENT GROWTH - Currently ±250 with ±375 Projected After Expansion
- HIGH DEVELOPMENT POTENTIAL - Zoned Residential-3-10
- EXCESS LAND - Approx. 2 AC for Future Growth
- Less than Half a Mile to CSU San Marcos
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$750,000.00
$62,500.00/mo
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Zoning
R-3-10 ResidentialMulti FamilyResidential 3 To 10
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View all 34 uses
View all 34 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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