Investment Overview

Marcus & Millichap is pleased to present a rare opportunity to acquire a four-parcel mixed-use investment located in the heart of Ocean Beach. The offering includes approximately 7,360 square feet of existing retail building space situated on about 25,797 square feet of land at the prominent corner of Bacon Street and Niagara Avenue, just half a block from the beach and the iconic Ocean Beach Pier. The portfolio features three buildings with a long-standing role as a community hub, notably anchored by La Doña, Ocean Beach’s top-ranked Mexican restaurant. The Bacon Street building, originally constructed in 1966, was fully remodeled in 2019, while the Niagara building, dating back to the 1970s, remains a cornerstone of the neighborhood’s commercial corridor. Currently, the entire portfolio is 100% leased to a carefully selected mix of popular local businesses and includes a parking lot managed by LAZ Parking, providing reliable in-place income. In addition to stable cash flow, the property offers considerable long-term development potential under CC-4-2 zoning. Preliminary underwriting and density calculations indicate the possibility to develop up to 47 units, encompassing 29 residential units (with 26 market-rate and 3 very-low-income units under the density bonus program) and 18 live/work lofts, along with approximately 3,250 square feet of commercial retail or restaurant space. The development could be supported by a structured parking garage with up to 61 stalls, resulting in an estimated 70,000 square feet of buildable area above a level of subterranean parking. Situated at the heart of Ocean Beach’s lively restaurant, bar, and retail district, this property enjoys exceptional foot traffic, year-round tourism, and strong neighborhood loyalty. With the Ocean Beach Pier set for a significant redevelopment, the property is well positioned to benefit from increased visibility, activity, and demand in the coming years. This is truly a once-in-a-generation opportunity to acquire a legacy Ocean Beach asset that offers both solid income today and transformative potential for the future.