Point Loma Retail Space
Recently Closed
$3,125,000
Description
- Final Sales Price $3,125,000 /// Original List Price $2,900,000
- Building Size+/-4,876 SqFT ($641/SqFt) Lot Size: 6,622 SqFt ($472/SqFt)
- CAP Rate at Time of Closing: 5.30%
- True NNN Leases with 3% Annual Increases
- 4 Tandem Onsite Parking Spaces, Approximately 8 Total Spaces
- Leased to Willis Allen, Marine Insurance, and Eclectic Home Clothing
- Currently Zoned CC-4-2
- First Time on the Market in Decades, Buyer was an Investor
- Inspection Report Had Some Deferred Maintenance, $25,000 Price Reduction
- Multiple Aggressive Offers Led to All Cash Quick Close, 14 Day Escrow
- The Franco Realty Group Represented the Buyer and Seller