Investment Overview

Marcus & Millichap is pleased to present 1405 University Ave, in the Hillcrest neighborhood of San Diego, CA. This 1,834 sqft retail building sits on University Avenue, the neighborhood’s main street with more than 20,000 vehicles passing per day. The property is 100% leased on a NNN lease to Romantix, an Adult Book Store, who recently exercised a 5-year renewal option. The tenant has been occupying the space since 2008. The property is in close proximity to the 163 freeway and is just half a mile away from Balboa Park and two miles from Fashion Valley mall and the San Diego International Airport. Landlord recently reached an agreement with tenant to break out back storage area of 1,600 SF from the lease agreement. Tenant to continue paying same rent schedule as previously, meaning that new owner can lease this space out of additional income