Mixed-Use

4th & E

Listing Price: $7,500,000

Cap Rate
0.87%
Number of Units
29
Occupancy
23.00%
Price/Unit
$258,621
Price/Gross SF
$324.96
Gross SF
23,080

Investment Overview

Marcus & Millichap is announcing the sale of a two-property mixed-use portfolio located on the corner of 4th & E in Downtown San Diego. Totaling 23,080 square feet and situated on a 10,000 square foot lot directly across the street from the planned Horton Plaza Campus redevelopment project. The portfolio is comprised of two properties, 401-411 E Street is three stories consisting of 29 SRO units (The Astor Hotel), and a ground floor restaurant/ bar (Star Bar). 851-895 4th Ave is two stories made up of two ground floor retail suites, corner restaurant space and second story vacant creative office space in raw shell condition. The property is currently 23.2% occupied by tenants on MTM leases, presenting the opportunity for an investor to reposition, add-value and stabilize the asset. Directly across the street from the subject property is the upcoming Campus at Horton by Stockdale Capital Partners. The redevelopment of Horton Plaza will transform the site into an employment and entertainment complex and will bring downtown San Diego over 4,000 high paying tech jobs.

Investment Highlights

  • Value-Add Mixed-Use with long term growth potential, surrounded by major redevelopments.
  • The asset consists of four retail suites, one office and 29 SRO units.
  • Located on the hard corner of Fourth and E Street, in the Gaslamp District, adjacent to the Stockdale Partners Horton Plaza Tech Hub Redevelopment.

Exclusively Listed By

Listing Price: $7,500,000

Cap Rate
0.87%
Number of Units
29
Occupancy
23.00%
Price/Unit
$258,621
Price/Gross SF
$324.96
Gross SF
23,080

Investment Highlights

  • Value-Add Mixed-Use with long term growth potential, surrounded by major redevelopments.
  • The asset consists of four retail suites, one office and 29 SRO units.
  • Located on the hard corner of Fourth and E Street, in the Gaslamp District, adjacent to the Stockdale Partners Horton Plaza Tech Hub Redevelopment.

Investment Overview

Marcus & Millichap is announcing the sale of a two-property mixed-use portfolio located on the corner of 4th & E in Downtown San Diego. Totaling 23,080 square feet and situated on a 10,000 square foot lot directly across the street from the planned Horton Plaza Campus redevelopment project. The portfolio is comprised of two properties, 401-411 E Street is three stories consisting of 29 SRO units (The Astor Hotel), and a ground floor restaurant/ bar (Star Bar). 851-895 4th Ave is two stories made up of two ground floor retail suites, corner restaurant space and second story vacant creative office space in raw shell condition. The property is currently 23.2% occupied by tenants on MTM leases, presenting the opportunity for an investor to reposition, add-value and stabilize the asset. Directly across the street from the subject property is the upcoming Campus at Horton by Stockdale Capital Partners. The redevelopment of Horton Plaza will transform the site into an employment and entertainment complex and will bring downtown San Diego over 4,000 high paying tech jobs.

Exclusively Listed By

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