Mixed-Use
1135-1145 Broadway
1145 Broadway, San Diego, CA 92101
Listing Price: $2,250,000
Investment Overview
Marcus & Millichap is pleased to present a mixed use Residential/Retail opportunity in the
East Village neighborhood of San Diego. This East Village location affords this property
easy access to all the businesses, restaurants, art galleries and the numerous parks in and
around East Village. Petco Park, Home of the San Diego Padres baseball team is within
walking distance and the subject property is located directly next to the MTS Trolley Line.
Additionally, the East Village is a thriving new residential neighborhood with thousands of
high-end apartment and condominium units in various stages of completion and
planning.
The building was built in 1930 and consists of a retail space on the ground floor of
approximately 4900 square feet and what was believed to be originally 30 Single Room
Occupancy (SRO) Units on the top floor. The retail is currently on a lease with Urban
Pedicabs of San Diego. Urban Pedicabs also subleases a portion of their space to Urban
Sign & Print. The upper floor SRO units are on a Master Lease for a total of $2,000/Month
with the lessor responsible for all utilities, maintenance, and management of the units.
The SRO units are all roughly 100 square feet or 10 x 10 with some that are 10 x 8. There
are a total of 5 bathrooms, 3 showers, 1 kitchen, 1 dining room, 1 laundry room, and 1
room that contains refrigerators. Access to the upper SRO units is by a secure entrance on
Park Ave., with another exit on Broadway. The underwriting in this package assumes a
new owner will end the master lease on the SRO units and rent them out themselves,
dramatically increasing cash flow. Current rents for SRO units in the immediate area
range from $650 to over $850 and exceeds $1,000 in buildings with more amenities. The
downstairs retail space is currently leased at a below market rate of only $1.12/foot on a
gross basis.
1135-1145 Broadway
Investment Highlights
- LOCATION Situated east of the Gaslamp Quarter, South of Cortez Hill, and North of Golden Hill neighborhood and Petco Park, East Village occupies a strategic location within downtown San Diego
- RESIDENTIAL The neighborhood is characterized by a mix of residential developments ranging from modern high-rise condos to historic loft conversions. Many young professionals and urban dwellers are dr
- ARTS AND CULTURE East Village is home to several art galleries, studios, and cultural institutions. The area hosts art walks, exhibitions and events that showcase the local creative talent.
- PETCO PARK One of the major landmarks of of East Village is Petco Park, the home stadium of the San Diego Padres baseball team. The stadium not only hosts baseball games but also concerts, festivals, and other events, contributing to the vibrancy of the neighborhood.
Exclusively Listed By
Financing By
Listing Price: $2,250,000
Investment Highlights
- LOCATION Situated east of the Gaslamp Quarter, South of Cortez Hill, and North of Golden Hill neighborhood and Petco Park, East Village occupies a strategic location within downtown San Diego
- RESIDENTIAL The neighborhood is characterized by a mix of residential developments ranging from modern high-rise condos to historic loft conversions. Many young professionals and urban dwellers are dr
- ARTS AND CULTURE East Village is home to several art galleries, studios, and cultural institutions. The area hosts art walks, exhibitions and events that showcase the local creative talent.
- PETCO PARK One of the major landmarks of of East Village is Petco Park, the home stadium of the San Diego Padres baseball team. The stadium not only hosts baseball games but also concerts, festivals, and other events, contributing to the vibrancy of the neighborhood.
Investment Overview
Marcus & Millichap is pleased to present a mixed use Residential/Retail opportunity in the East Village neighborhood of San Diego. This East Village location affords this property easy access to all the businesses, restaurants, art galleries and the numerous parks in and around East Village. Petco Park, Home of the San Diego Padres baseball team is within walking distance and the subject property is located directly next to the MTS Trolley Line. Additionally, the East Village is a thriving new residential neighborhood with thousands of high-end apartment and condominium units in various stages of completion and planning. The building was built in 1930 and consists of a retail space on the ground floor of approximately 4900 square feet and what was believed to be originally 30 Single Room Occupancy (SRO) Units on the top floor. The retail is currently on a lease with Urban Pedicabs of San Diego. Urban Pedicabs also subleases a portion of their space to Urban Sign & Print. The upper floor SRO units are on a Master Lease for a total of $2,000/Month with the lessor responsible for all utilities, maintenance, and management of the units. The SRO units are all roughly 100 square feet or 10 x 10 with some that are 10 x 8. There are a total of 5 bathrooms, 3 showers, 1 kitchen, 1 dining room, 1 laundry room, and 1 room that contains refrigerators. Access to the upper SRO units is by a secure entrance on Park Ave., with another exit on Broadway. The underwriting in this package assumes a new owner will end the master lease on the SRO units and rent them out themselves, dramatically increasing cash flow. Current rents for SRO units in the immediate area range from $650 to over $850 and exceeds $1,000 in buildings with more amenities. The downstairs retail space is currently leased at a below market rate of only $1.12/foot on a gross basis.
Exclusively Listed By
Financing By
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