Offer Price:

$7,200,000

Price/SF:

$296.80

Current NOI:

$401,210

CAP Rate:

5.57%

Leased:

100%

Net Rentable Area:

24,259 SF

Status:

Available



Investment Highlights
  • Miramar Multi-Tenant Retail Center
  • +/-24,259 SF Building on 1.23 Acres of Land (Buyer to Verify SF)
  • Internet Resistant Retail center anchored by Subway
  • First time to market in property’s history since originally developed by owner in 1986
  • Asset is 100% Leased and historically fully occupied
  • Average In-Place rent of $1.22/SF NNN, with Market rates achieving above $2.00/SF NNN in Miramar
  • Significant upside in rental rates with no major tenants rolling over in the near term
  • Exciting and Transformative 3Roots Development just blocks away with 1,800 new homes under construction
  • Busy signalized intersection with 42,000 Cars Per Day on Miramar Rd
  • Low velocity sub-market, only 3 Retail properties sold in Miramar in last 5 years
  • Centrally located in The Golden Traingle of San Diego between the major commuter 805, 15, and 52 Freeway’s
  • 82 Surface Parking Spaces; 3.60/1,000 Parking Ratio

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