FOR SALE! Mission Bay Professional Building, 2168 Balboa Avenue
MISSION BAY PROFESSIONAL BUILDING
The Franco Realty Group is proud to exclusively present for sale the fee-simple ownership opportunity located at 2168 Balboa Avenue, San Diego, 92109. This office property includes two buildings which are made up of four office units and podium style ground level parking. With good frontage along Balboa Avenue, the two buildings are connected on the north and south facing sides via exterior bridge-ways. This is an opportunity for an investor to purchase this property and collect rent from 4 different businesses, or for a business owner to operate out of one office while collecting rent from the other tenants. The property is anchored by Dental Arts San Diego, which also offers emergency dental.
Asking Price: $2,200,000 | Current CAP Rate: 2.75% | ProForma CAP Rate: 3.65%
+/- 3,960 SqFt Building Size ($555/SqFt), +/- 5,029 SqFt Lot Size
2 Detached Buildings, Podium Style with Covered Parking on Ground Level
4 Office Units Range Between +/- 900-1000 Sq Ft Each
14 Parking Spaces Including 8 Covered Spaces and 1 Handicapped Space
Excellent Visibility Along Busy Balboa Avenue
Owner-User Opportunity, Some Month to Month Lease Agreements
Strong Traffic Counts of 13,800+ Cars Per Day (Sandag)
First Time on the Market in Decades
PLEASE DO NOT DISTURB THE TENANTS OR THEIR EMPLOYEES
Pacific Beach is a beach community situated in the City of San Diego that boosts a 12 month, 22 hours per day open-for-business period. During the 9 month school season, many students from UCSD, USD, Point Loma Nazarene and SDSU flock to Pacific Beach for its desirable shopping, restaurants and nightlife. When school is out, many tourists from Orange, Los Angeles, Riverside, San Bernardino County and Arizona make their way to Pacific Beach to enjoy the “laid-back” atmosphere. Many vacation homes, condos, hotels, motels and timeshares are within walking distance. According to PacificBeach.org, Pacific Beach has over 7 million tourist visit each year. Pacific Beach also is home to Crystal Pier, a famous surf and fishing spot which is about 1/2 mile from the subject property.