Hillcrest Urban Street Retail OWNER-USER / INVESTMENT OPPORTUNITY $1,750,000 3776 4 TH Avenue, San Diego, CA 92103 Please Do Not Disturb Tenant! Exclusively listed by,
THE OFFERING 3776 4 TH Avenue, San Diego, CA 92103 OFFERING PRICE $1,750,000 OWNERSHIP Fee Simple IMPROVEMENTS Single Tenant Commercial TOTAL BUILDING AREA Approximately 4,000 square feet YEAR BUILT Estimated Mid 1950 s Mid 1960 s PARKING 10 spaces TOTAL LAND AREA 6,850 square feet; 50 x 137 ZONING MCCPD-CN-1A ASSESSOR PARCEL # 452-055-42-00
THE OFFERING 3776 4 TH Avenue, San Diego, CA 92103 3776 4th Ave. represents an extraordinary investment opportunity for both owner-users and investors seeking to own a piece of the highly sought after Hillcrest community where commercial properties rarely hit the market. Centrally located in the heart of Hillcrest, just one block away from bustling University and 5th Avenues, and surrounded by the dynamic neighboring communities of Mission Hills, Bankers Hill, Old Town, Little Italy, and University Heights. Highly adaptable, clear span building affords maximum use of the space and the ability to demise the building and customize the interior to accommodate a wide range of commercial uses. Rated as a Walker s Paradise with a high Walk Score of 93 due to its close proximity to a hub of convenient shopping, dining, nightlife, and recreational amenities, such as Balboa Park, Scripps Mercy Hospital, UC San Diego Medical Center, Landmark Cinemas, Snooze Eatery, Urban Outfitters, and Whole Foods. Existing cash flow generated from a short term lease is highly advantageous to users working through space design and permits and investors working towards implementing optimal leasing strategies. Tremendous upside for a user wanting to occupy a portion of the building and generate additional passive income by leasing out the remainder of the space. An extremely densely populated urban location, with nearly 220,000 residents and a daytime population of 215,000 within a 3-mile radius.
THE OFFERING 3776 4 TH Avenue, San Diego, CA 92103 Floor Plan SINK DOOR DOOR RR Potential Configurations DOORWAY DOORWAY SINGLE USER A B DOOR DOORWAY A B A STOREFRONT STOREFRONT B ENCLOSED PATIO All Interior Walls are Non-Structural 4TH AVENUE
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 Hillcrest Own a piece of Uptown s Hillcrest, a vibrant San Diego neighborhood that serves as one of its main hubs, offering a unique array of hip bars, ethnically diverse restaurants, cool coffee houses, trendy thrift stores and countless boutiques. Situated just a few miles north of San Diego s energetic Downtown scene, its pedestrian-friendly streets and sidewalk patios make Hillcrest one of San Diego s most colorful and vibrant urban epicenters. Compared to many other neighborhoods in San Diego, it has a high population density and has experienced a major overhaul over the years, making it one of the most desirable places to live. It is no wonder that Hillcrest was selected One of 10 Great Neighborhoods in America by The American Planning Association. N Coronado left South Park Golden Hill Downtown Balboa Park Bankers Hill left North Park SITE University Ave Hillcrest University Ave Mission Hills Old Town right University Heights 163
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 Hillcrest selected as One of 10 Great Neighborhoods in America by The American Planning Association Hillcrest Business Association The Hillcrest Business Association supports most beautification projects in the neighborhood, organizes street festivals, runs the Hillcrest Farmers Market, and sponsors the annual Taste of Hillcrest, which offers food and drink samples from over 50 local bars and restaurants.
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 So Much To Do in Fabulous Hillcrest star Hillcrest Farmers Market Occurring every Sunday, located on the intersection of Normal Street and Lincoln Avenue with over 175 vendors. star Taste of Hillcrest An annual self-guided culinary tour, featuring over 40 restaurants and spanning more than 12 blocks, participants treat themselves to foods from all over the world. star LGBT Pride Parade Among one of the largest LGBT Pride Parades in the United States, attracting over 100,000 spectators annually and begins at the Hillcrest Pride flag on iconic University Avenue. star Hillcrest Craft Beer Crawl An annual beer crawl, featuring a dozen Hillcrest locations and their craft beer selections. Hillcrest stands as an official craft beer destination. star ParkHillcrest Trolley A free weekly service offered by The Uptown Community Parking District, making it easy to zip around Hillcrest. Lunch Loops circling around University Avenue and Washington Street, Monday Friday, 11:30am - 1:30pm, and providing Farmers Market Trolley Stops from 9am - 2pm, every Sunday. star CityFest Located in the heart of Hillcrest, directly underneath the Hillcrest sign, this is a huge celebration of community spirit through food, art, music and crafts, which attracts over 150,000 attendees each year.
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 163 Washington St Washington St University Ave University Ave Robinson Ave SITE Robinson Ave 163 6th Ave 5th Ave 4th Ave 3rd Ave 1st Ave
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 Washington St 22 Washington St 3rd Ave 9 4th Ave 11 12 10 5th Ave 18 21 13 6th Ave 7th Ave 8th Ave 9th Ave University Ave 30 31 27 8 29 28 19 17 University Ave 26 32 3rd Ave 4th Ave 5 5th Ave 7 20 15 23 6th Ave 7th Ave 8th Ave 163 01. Pinkberry 02. Green Fresh Florals 03. Atlas 18. Village Hillcrest 19. Buffalo Exchange 20. Chase Bank Robinson Ave 34 6 4 2 1 24 25 Robinson Ave 33 04. La Pizzeria Arriverderci 21. Landmark Cinemas 05. Village Hat Shop 06. Seven Eleven 22. Scripps Mercy Hospital 23. Robinson Plaza 3rd Ave 4th Ave 5th Ave 6th Ave 7th Ave 8th Ave 07. Artist & Craftsman Supply 24. Crest Café 08. Project Pie 25. Rite Aid 09. US Health Works Medical Group 10. Snooze 26. Lawrance Contemporary Furniture 27. Walgreens Pennsylvania Ave Pennsylvania Ave 11. Urban Outfitters 12. Lemonade 28. Burger Lounge 29. Bread and Cie 3 16 13. 24 Hour Fitness 30. Fiesta Cantina 14. Hash House A Go Go 15. Starbucks 31. Urban Mo s Bar & Grill 32. Whole Foods 14 16. The Brew Project 33. US Post Office 17. Hillcrest Sign 34. Uptown Medical Building run Walk Score: Walker s Paradise (93)
THE MARKET 3776 4 TH Avenue, San Diego, CA 92103 Seize the Opportunity to Own a Piece of Hillcrest
THE ECONOMICS 3776 4 TH Avenue, San Diego, CA 92103 Owner-User Estimated Financing Market Proforma Investment Analysis - Cap Rate Matrix SBA 504 SBA 7a Real Estate Purchase Price $1,750,000 $1,750,000 Down Payment $175,000 (10%) $262,500 (15%) Bank Loan Amount $875,000 (50%) $1,487,500 (85%) CDC/SBA Loan Amount $700,000 (40%) N/A Bank Debenture Bank Loan Amount $875,000 $700,000 $1,487,500 Interest Rate 4.86% 4.82% 5.00% Terms 5-yr Fixed Fixed Amortization (Yrs) 25 20 25 Estimated Fees* $13,125 $28,860 $41,705 *504 and 7a loan fees can be tied into the loan. Cash Required $188,125 $262,500 Monthly Payment $9,594 $8,695 Rental Rate (NNN) / Purchase Price Lease Abstract Tenant dba The Pet Lounge Lease Expiration 2/28/17 Extension Options Monthly Rent None $6,000 plus utilities Security Deposit $10,000 Maintenance of the Premises $2.00 $2.25 $2.50 $2.75 $3.00 $1,650,000 5.8% 6.5% 7.3% 8.0% 8.7% $1,700,000 5.6% 6.4% 7.1% 7.8% 8.5% $1,750,000 5.5% 6.2% 6.9% 7.5% 8.2% $1,800,000 5.3% 6.0% 6.7% 7.3% 8.0% $1,850,000 5.2% 5.8% 6.5% 7.1% 7.8% Tenant s Responsibility Monthly Payment Per Square Foot $2.40 $2.17 For full proposal, contact: Nick Stoneman nstoneman@plazabank.com (858) 436-0933
THE DEMOGRAPHICS 3776 4 TH Avenue, San Diego, CA 92103 5 MILES 1 MILE 2010 2015 2020 Population 26,156 27,024 28,300 Households 15,404 15,886 16,652 3 MILES Avg Household Income N/A $78,928 $92,171 1 MILE 13 MILES 2010 2015 2020 location Population 211,716 219,975 230,655 Households 98,645 103,479 109,400 Avg Household Income N/A $67,981 $78,435 5 MILES 2010 2015 2020 Population 502,395 516,577 538,193 Households 199,454 206,204 216,021 Avg Household Income N/A $68,552 $78,413