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Shopping Strip

Adams Heritage Row

4200-04 Adams Ave, San Diego, CA 92116

Listing Price: $3,200,000

Cap Rate
5.74%
Gross SF
4,673
Rentable SF
4,673
Price/Gross SF
$684.78
Lot Size
0.19 acres
Year Built
1935

Investment Overview

Marcus & Millichap has been exclusively appointed by the owners to market Adams Heritage Row, a multi-tenant retail property located at the corner of 42nd Street and Adams Avenue in the desirable Kensington neighborhood. Situated at 4200-4204 Adams Avenue, San Diego, CA 92116, this retail property spans 4,660 square feet on an 8,151-square-foot lot.

Adams Heritage Row is fully leased to two long-standing tenants: Pappalecco and The OAS Center - Specialized Therapy Services. Both tenants have been operating at this location for a decade, demonstrating their commitment and success in the area. Pappalecco, known as "the most Authentic Italian Café Experience outside of Italy," also has a location in Little Italy. The OAS Center offers unique learning opportunities for children, including music lessons, music therapy, behavior therapy, tutoring, interventions for learning differences, and therapeutic services, and is home to Schloyer Audiology.

This turn-key property, fully leased to internet-resistant tenants, presents a rare opportunity to acquire real estate in the highly coveted Kensington neighborhood and provides a stable an consistent income stream to an investor with minimal management responsibilities. Both tenants have a strong history of occupancy, providing goods and services such as perishable food items and childcare services that are not easily replaced by online alternatives.

Adams Avenue offers a miniature “Main Street,” filled with coffee shops, restaurants such as the renowned Ponce’s Mexican restaurant, Kensington Café, Starbucks, Burger Lounge amongst others, a branch library, and the Ken Theatre. The area has an impressive collection of Spanish Revival style homes and architecture, and real estate is coveted for its unique, charming original character and very limited supply.

Investment Highlights

  • Kensington Multi-Tenant Retail Strip on Adams Avenue
  • 4,673 SF Building on 8,151 SF Lot
  • Two Retail Suites, Currently 100% Leased, Strong Histroical Occupancy
  • Tenants: Pappalecco Italian Cafe & The Oas Center & Specialized Therapy Services
  • Building Features 7 Surface Parking Spaces and Excellent Visibility/Frontage
  • Highly Sought-After Low Velocity Sub-Market of San Diego

Exclusively Listed By

Financing By

Shopping Strip

Adams Heritage Row

Listing Price: $3,200,000

Cap Rate
5.74%
Gross SF
4,673
Rentable SF
4,673
Price/Gross SF
$684.78
Lot Size
0.19 acres
Year Built
1935

Investment Highlights

  • Kensington Multi-Tenant Retail Strip on Adams Avenue
  • 4,673 SF Building on 8,151 SF Lot
  • Two Retail Suites, Currently 100% Leased, Strong Histroical Occupancy
  • Tenants: Pappalecco Italian Cafe & The Oas Center & Specialized Therapy Services
  • Building Features 7 Surface Parking Spaces and Excellent Visibility/Frontage
  • Highly Sought-After Low Velocity Sub-Market of San Diego

Investment Overview

Marcus & Millichap has been exclusively appointed by the owners to market Adams Heritage Row, a multi-tenant retail property located at the corner of 42nd Street and Adams Avenue in the desirable Kensington neighborhood. Situated at 4200-4204 Adams Avenue, San Diego, CA 92116, this retail property spans 4,660 square feet on an 8,151-square-foot lot. Adams Heritage Row is fully leased to two long-standing tenants: Pappalecco and The OAS Center - Specialized Therapy Services. Both tenants have been operating at this location for a decade, demonstrating their commitment and success in the area. Pappalecco, known as "the most Authentic Italian Café Experience outside of Italy," also has a location in Little Italy. The OAS Center offers unique learning opportunities for children, including music lessons, music therapy, behavior therapy, tutoring, interventions for learning differences, and therapeutic services, and is home to Schloyer Audiology. This turn-key property, fully leased to internet-resistant tenants, presents a rare opportunity to acquire real estate in the highly coveted Kensington neighborhood and provides a stable an consistent income stream to an investor with minimal management responsibilities. Both tenants have a strong history of occupancy, providing goods and services such as perishable food items and childcare services that are not easily replaced by online alternatives. Adams Avenue offers a miniature “Main Street,” filled with coffee shops, restaurants such as the renowned Ponce’s Mexican restaurant, Kensington Café, Starbucks, Burger Lounge amongst others, a branch library, and the Ken Theatre. The area has an impressive collection of Spanish Revival style homes and architecture, and real estate is coveted for its unique, charming original character and very limited supply.

Exclusively Listed By

Financing By

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