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Browse More Listings in Office For Sale, San Diego, CA or California

Office Property For Sale

Balboa Medical/Retail - 8.0% Cap - Assumable Debt

5252 Balboa Avenue, San Diego, CA 92117

Price:
$19,100,000
Building Size:
99,312 SF
Price/SF:
$192.32
Property Type:
Office
Property Sub-type:
Medical Office
Additional Sub-types:
Office Building
Retail (Other)
Property Use Type:
Net Lease Investment with 10+ years left on lease
Commission Split:
1%
Cap Rate:
8.25%
Occupancy:
94%
Tenancy:
Multiple
Lot Size:
5.72 AC
Find Out More...

Last Verified 9/29/2009 Listing ID 16194430

Description

Marcus & Millichap is pleased to offer for sale a rare opportunity to purchase a prominent, trophy property in the heart of San Diego. Balboa-Genesee Corners is a mixed-use medical, professional office and retail development located in San Diego, California at the intersection of Balboa and Genesee Avenue.

Also included in the offering is a retail/office strip, a ground-leased Rite Aid, and a ground-leased Taco Bell. Included in this offering is a row pad site parcel suited for new development and can accommodate approximately 12,000 square feet per floor, with up to two floors buildable, depending on the use. This is a trophy and irreplaceable asset with no deferred maintenance. Loan must assumed: 5.75% on a 30 year amortization.

San Diego, CA

Financial Summary

Actual
Net Operating Income
$1,680,000

Map of 5252 Balboa Avenue, San Diego, CA 92117 (San Diego County)

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Presented by

Marcus & Millichap

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Contact Listing Broker

Robert Bender - Marcus & Millichap (248) 415-2617

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Created 4/15/2009

Additional Information for 5252 Balboa Avenue, San Diego, CA 92117

Active For Sale - 1 Listing
Active For Lease - 1 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Office Property For Sale - Balboa Medical/Retail - 8.0% Cap - Assumable Debt

5252 Balboa Avenue, San Diego, CA, 92117