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Office

The Lot @ 30th St

121 East 30th Street, National City, CA 91950

Listing Price: $3,500,000

Cap Rate
6.82%
Gross SF
18,879
Rentable SF
18,879
Price/Gross SF
$185.39
Lot Size
0.96 acres
Year Built
1976

Investment Overview

Marcus & Millichap is pleased to present The Lot @ 30th Street, located at 124 E 30th Street, 148 E 30th Street. and 121 E 31st Street, National City, CA 91950. This two-story, three (3) building Office project is comprised of approximately 18,879 square-feet of rentable building area; situated on over 41,877 square-feet of land, with frontage on E 30th Street, situated between National City Blvd and B Ave. Located in the heart of National City, the properties are within walking distance to the Miles of Cars, Transit Station, major retailers, & quick access to I-5, I 805 and Highway 54. All three buildings were recently renovated and feature high-end finishes, with a new exterior facade, new dedicated HVAC units, roof and flashing repairs, energy efficient windows and doors. Additionally, new exterior lighting, remodeled commons areas, restrooms, signage program, drought tolerant landscaping and drip irrigation system. The Lot is currently 92.2% leased and comprised of 14 diverse office tenants. The average in place rent of $1.61 per square-foot gross. This is a unique opportunity to acquire one of the best located and highly scarce Office projects in the South Bay area of San Diego. According to CoStar, in the second quarter of 2021, the total National City Office vacancy continues to stay extremely low at 2.0%. The average Office rent in National City continues to increase, at an average of $2.23 per square-foot (Gross).

Investment Highlights

  • 92.2% Leased 3 Building Office Portfolio with 18,879 SF of Rentable Building Area
  • Strong In-Place Cap Rate of 6.82% with ability to Lease up and Maximize Income
  • 2018 Renovation: New Exterior Façade, HVAC units, Roof, Energy Efficient Windows and Doors, Lighting, Restrooms, Signage, Drought Tolerant Landscape
  • Up and Coming South San Diego Sub Market with Low Vacancy

Exclusively Listed By

Listing Price: $3,500,000

Cap Rate
6.82%
Gross SF
18,879
Rentable SF
18,879
Price/Gross SF
$185.39
Lot Size
0.96 acres
Year Built
1976

Investment Highlights

  • 92.2% Leased 3 Building Office Portfolio with 18,879 SF of Rentable Building Area
  • Strong In-Place Cap Rate of 6.82% with ability to Lease up and Maximize Income
  • 2018 Renovation: New Exterior Façade, HVAC units, Roof, Energy Efficient Windows and Doors, Lighting, Restrooms, Signage, Drought Tolerant Landscape
  • Up and Coming South San Diego Sub Market with Low Vacancy

Investment Overview

Marcus & Millichap is pleased to present The Lot @ 30th Street, located at 124 E 30th Street, 148 E 30th Street. and 121 E 31st Street, National City, CA 91950. This two-story, three (3) building Office project is comprised of approximately 18,879 square-feet of rentable building area; situated on over 41,877 square-feet of land, with frontage on E 30th Street, situated between National City Blvd and B Ave. Located in the heart of National City, the properties are within walking distance to the Miles of Cars, Transit Station, major retailers, & quick access to I-5, I 805 and Highway 54. All three buildings were recently renovated and feature high-end finishes, with a new exterior facade, new dedicated HVAC units, roof and flashing repairs, energy efficient windows and doors. Additionally, new exterior lighting, remodeled commons areas, restrooms, signage program, drought tolerant landscaping and drip irrigation system. The Lot is currently 92.2% leased and comprised of 14 diverse office tenants. The average in place rent of $1.61 per square-foot gross. This is a unique opportunity to acquire one of the best located and highly scarce Office projects in the South Bay area of San Diego. According to CoStar, in the second quarter of 2021, the total National City Office vacancy continues to stay extremely low at 2.0%. The average Office rent in National City continues to increase, at an average of $2.23 per square-foot (Gross).

Exclusively Listed By

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