Shopping Strip

Foley Plaza Bankers Hill

Listing Price: $5,985,000

Cap Rate
2.82%
Gross SF
18,626
Rentable SF
18,626
Price/Gross SF
$321.33
Lot Size
0.43 acres
Year Built
1913

Investment Overview

Marcus & Millichap is please to present for sale, the 18,626 square-foot site located on 5th avenue in San Diego’s historic Bankers Hill neighborhood. This sale represents a unique opportunity to acquire the fully entitled development site with sustainable in-place income. The property is bounded by 5th Avenue, Fir Street and Elm Street. The fully entitled, permit ready project can be developed at up to 49,711 square-foot and up to (28) Residential units and 5,783 square-feet of ground floor retail space. The proposed residential units are projected to be mainly two-bedrooms two bath units ranging from 949 square-feet to approximately 1,401 square-feet. Currently the property operates as a Retail asset and is 84% leased to (14) tenants on month to month terms. This provides the prospective buyer with existing income as development begins. Bankers Hill has experienced large scale redevelopment with the construction of multiple high rise luxury condos and mixed-use projects such as The Park, 41 West, Park West, High Pointe, XPO CityMark, Palatine Bankers Hill, 6th & Olive. Bankers Hill is situated 1.3 miles from the heart of Downtown, San Diego and adjacent to Balboa Park. The urban location has an impressive walk score of 93 by Walkscore.com and is surrounded by restaurants, bars, and cafes, with views of the Bay and Balboa Park. The central location allows easy access to Interstate 5, Highway 163, and Lindberg Field Airport.

Investment Highlights

  • Retail with existing income, permit ready fully entitled mixed-use development opportunity
  • Build up to 49,711 SF - 28 Residential Units and 5,789 SF of Ground Floor Retail
  • Currently the property operates as a Retail asset and is 84% leased to (14) tenants on month to month terms.

Exclusively Listed By

Shopping Strip

Foley Plaza Bankers Hill

Listing Price: $5,985,000

Cap Rate
2.82%
Gross SF
18,626
Rentable SF
18,626
Price/Gross SF
$321.33
Lot Size
0.43 acres
Year Built
1913

Investment Highlights

  • Retail with existing income, permit ready fully entitled mixed-use development opportunity
  • Build up to 49,711 SF - 28 Residential Units and 5,789 SF of Ground Floor Retail
  • Currently the property operates as a Retail asset and is 84% leased to (14) tenants on month to month terms.

Investment Overview

Marcus & Millichap is please to present for sale, the 18,626 square-foot site located on 5th avenue in San Diego’s historic Bankers Hill neighborhood. This sale represents a unique opportunity to acquire the fully entitled development site with sustainable in-place income. The property is bounded by 5th Avenue, Fir Street and Elm Street. The fully entitled, permit ready project can be developed at up to 49,711 square-foot and up to (28) Residential units and 5,783 square-feet of ground floor retail space. The proposed residential units are projected to be mainly two-bedrooms two bath units ranging from 949 square-feet to approximately 1,401 square-feet. Currently the property operates as a Retail asset and is 84% leased to (14) tenants on month to month terms. This provides the prospective buyer with existing income as development begins. Bankers Hill has experienced large scale redevelopment with the construction of multiple high rise luxury condos and mixed-use projects such as The Park, 41 West, Park West, High Pointe, XPO CityMark, Palatine Bankers Hill, 6th & Olive. Bankers Hill is situated 1.3 miles from the heart of Downtown, San Diego and adjacent to Balboa Park. The urban location has an impressive walk score of 93 by Walkscore.com and is surrounded by restaurants, bars, and cafes, with views of the Bay and Balboa Park. The central location allows easy access to Interstate 5, Highway 163, and Lindberg Field Airport.

Exclusively Listed By

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