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Miscellaneous

Hillcrest Net-Leased Retail on University Avenue

1407 University Ave, San Diego, CA 92103

Listing Price: $1,975,000

Cap Rate
4.36%
Tenant Name
Romantix
Years Remaining On Lease
5.0
Gross SF
1,834
Guarantor
Franchisee Guarantee
Rentable SF
1,834
Price/Gross SF
$1,076.88
Lease Type
Absolute Net
Rent Per Square Feet
$46.98

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

Investment Highlights

  • Single-Tenant Net-Leased Retail Building in Hillcrest on University Avenue
  • 5 Years Remaining on Lease with CPI Increases
  • Value-Add Opportunity from unleased outdoor area - 1,600 SF Total.

Exclusively Listed By

Financing By

Miscellaneous

Hillcrest Net-Leased Retail on University Avenue

Listing Price: $1,975,000

Cap Rate
4.36%
Tenant Name
Romantix
Years Remaining On Lease
5.0
Gross SF
1,834
Guarantor
Franchisee Guarantee
Rentable SF
1,834
Price/Gross SF
$1,076.88
Lease Type
Absolute Net
Rent Per Square Feet
$46.98

Investment Highlights

  • Single-Tenant Net-Leased Retail Building in Hillcrest on University Avenue
  • 5 Years Remaining on Lease with CPI Increases
  • Value-Add Opportunity from unleased outdoor area - 1,600 SF Total.

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

Exclusively Listed By

Financing By

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