Available For Sale - Retail

13,045 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
13,045 SF
Price/SF
Show Pricing $
Listing ID
SA513204
Notes
Asking Price: $4,900,000

Address: 501-523 Broadway & 989 5th Avenue, San Diego, CA 92101

Land Area: Approx. 5,000 Square Feet

Building Size: Approx. 13,045 Square Feet

Year Built: 1930, Renovated in 1961

Construction: Concrete slab and floors, CMU frame with stucco walls, TPO roof

HVAC: Retail package units maintained by tenants

Utilities: Separately metered

Lease Type: NNN

Parking: No on-site parking; metered street parking with parking lots & garages in the

immediate area

Elevator: Inoperable, basement, 1st and 2nd floor

APN: 533-574-01-00

Zoning: CCDC-GQPD, Gaslamp Quarter, Commercial & Multifamily use





THE SECOND FLOOR space can be improved in so many ways to produce added income. Retail leasing favors a fitness use (gym, boxing, yoga healthy

lifestyle). Multifamily repurposing could be in the form of loft rental units, short term rental or boutique hospitality. Lease out this vacant space to provide

valuable additional income.

THE ROOFTOP / THIRD FLOOR has a small office that can be leased out as office or repurposed for residential. The potential exists to expand the build out for added

rentable square feet. The rooftop has an amazing view of downtown and could be a deck for resi/hospitality use, lounge or other creative uses (rooftop yoga etc).

A new owner can reimagine the use of this extra space.

THE FIRST FLOOR may be improved with existing tenants or reimagine an upgraded façade and tenant mix within this high traffic prominent location.

An improvement of space, façade, signage and tenant mix would allow a new owner to take advantage of the rising downtown retail rents.

THE BASEMENT is currently utilized by the first floor tenants. Many properties in the area have opened the basement space for club, speakeasy or recreation use.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Kris Boehmer, Pacific Coast Commercial