5005-19 Cass St

    North Pacific Beach, CA 92109
    • $3,500,000
    • STATUS: ACTIVE
    • ON SITE: 153 days
    • ID#: 190027554
    UPDATED: 89 min ago
    $3,500,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,448
      SQFT
    • $642
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1963
    County:

    School Ratings & Info

    Description

    5 unit Retail in North Pacific Beach on busy intersection of Cass St. and Loring. A must see! Great potential in an upscale beach area with it's proximity to La Jolla. Plenty of value add with leases coming up for renewal this year and next! First time in over 35 years this property has come available and won't last long! Bar has permitted exterior seating area and ADA ramp entrance. Lease comes due on Bar Dec. 2020 for owner/user.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/94982915

    5005-19 Cass St North Pacific Beach, CA 92109

    • Price: $3,500,000
    • Status: ACTIVE
    • Updated: 89 min ago
    • ID#: 190027554
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,448
    SQFT
    $642
    $/SQFT
    1963
    Built
    Neighborhood:
    Pacific Beach (92109)
    County:
    San Diego
    Area:
    Pacific Beach (92109)
    Property Description
    5 unit Retail in North Pacific Beach on busy intersection of Cass St. and Loring. A must see! Great potential in an upscale beach area with it's proximity to La Jolla. Plenty of value add with leases coming up for renewal this year and next! First time in over 35 years this property has come available and won't last long! Bar has permitted exterior seating area and ADA ramp entrance. Lease comes due on Bar Dec. 2020 for owner/user.
    Interior Features

    Unit Size1 648 Unit Size2 704 Unit Size3 697 Unit Size4 1989 Unit Size5 1410 Vacant Sq Ft 1410

    Property Features

    Actual Gross Scheduled Income 76752 Actual Operating Expense 46073 Actual Prop Management 2250 Actual Taxes Expense 34768 Actual Total Expense 49143 Actual Trash Expense 1613 Actual Water Sewer Expense 3786 Assessed Value Improved 2957542 Assumable Finance 0 Buildings 1 Commercial Property Type Retail LeaseRetail Sale Existing Financing Conventional Lease Expires1 8/31/2019 Lease Expires2 8/31/2019 Lease Expires3 8/31/2019 Lease Expires4 12/31/2020 Lease Expires5 Vacant Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 6396 Monthly Rent1 1200 Monthly Rent2 1200 Monthly Rent3 1000 Monthly Rent4 2996 Monthly Rent5 0 Motive Want Retire Occupancy Percent 98 Present Loan 100000 Projected Annual Pi Expense 3539 Projected Cap Rate 6.6 Projected Fl Ins Expense 3539 Projected Gross Multiplier 14.9 Projected Gross Operating Inc 235239 Projected Gross Scheduled Inc 245061 Projected Net Income 232239 Projected Operating Expense 3000 Projected Property Mgmt Expense 3000 Projected Taxes Expense 43750 Projected Total Expense 3000 Projected Vacancy And Credit Loss 9802 Short Sale No Terms Cash Unit Number1 5009 Unit Number2 5011 Unit Number3 5013 Unit Number4 5019 Unit Number5 5005 Zoning Commercial

    Listing provided courtesy of Svn Asset Advisory Group. Listing information © 2019 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101