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206-222 Park Blvd - Park Terrace 21,565 SF Office/Retail Condo Unit Offered at $13,500,000 in San Diego, CA 92101
Investment Highlights
- Located in the heart of Downtown’s East Village, directly adjacent to Petco Park
- 222 Park Blvd features a separate condo (7-Eleven) - Buyer has the ability to renew lease and sell individual condo at a premium
- Over 9,000 vehicles pass the site daily, and 3.4M+ annual attendees to Petco Park home games
- Tenant mix includes a mix of strong national and regional credit tenants along with a few local companies
- 5,300+ residential units within 0.25 mi and adjacent to Tailgate Park redevelopment (1.35 million SF)
- Game changers for Downtown include Campus at Horton and RaDD, bringing over 8,000 jobs
Executive Summary
Located in the heart of Downtown’s East Village, directly adjacent to Petco Park Tenant mix includes a mix of strong national and regional credit tenants along with a few local companies 222 Park Blvd features a separate condo (7-Eleven) - Buyer has the ability to renew lease and sell individual condo at a premium 5,300+ residential units within 0.25 mi and adjacent to Tailgate Park redevelopment (1.35 million SF) Over 9,000 vehicles pass the site daily, and 3.4M+ annual attendees to Petco Park home games Game changers for Downtown include Campus at Horton and RaDD, bringing over 8,000 jobs
Data Room Click Here to Access
- Offering Memorandum
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 535-362-20 |
| Cap Rate | 6.96% |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| APN/Parcel ID | 535-362-20 |
Description
Ground-floor retail wraps the entire building adjacent to Petco Park, featuring a strong mix of national and regional credit tenants. The property also includes a separate 7-Eleven condo, offering the buyer the opportunity to renew the lease and potentially sell the unit individually at a premium.
Sale Notes
Park Terrace is a rare investment opportunity in Downtown San Diego, directly adjacent to Petco Park. As demand for urban living continues to grow, the property is well-positioned to benefit from the city’s ongoing redevelopment and the unmatched live/work/play lifestyle of the urban core.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Grnd Floor | 21,565 SF | Office/Retail | $13,500,000 ($626.01/SF) | $940,068 |
Unit Grnd Floor
| Unit Size |
| 21,565 SF |
| Condo Use |
| Office/Retail |
| Price |
| $13,500,000 ($626.01/SF) |
| NOI |
| $940,068 |
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Unit Grnd Floor
| Unit Size | 21,565 SF |
| Condo Use | Office/Retail |
| Price | $13,500,000 ($626.01/SF) |
| NOI | $940,068 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| APN/Parcel ID | 535-362-20 |
| Description | |
| Ground-floor retail wraps the entire building adjacent to Petco Park, featuring a strong mix of national and regional credit tenants. The property also includes a separate 7-Eleven condo, offering the buyer the opportunity to renew the lease and potentially sell the unit individually at a premium.</li></ul> | |
| Sale Notes | |
| Park Terrace is a rare investment opportunity in Downtown San Diego, directly adjacent to Petco Park. As demand for urban living continues to grow, the property is well-positioned to benefit from the city’s ongoing redevelopment and the unmatched live/work/play lifestyle of the urban core.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 536,223 SF | Typical Floor Size | 20,546 SF |
| Property Type | Multifamily (Condo) | Year Built | 2007 |
| Property Subtype | Apartment | Lot Size | 0.98 AC |
| Building Class | A | Parking Ratio | 0.35/1,000 SF |
| Floors | 14 | Opportunity Zone |
Yes
|
| Zoning | CCPD-BP | ||
| Total Building Size | 536,223 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | A |
| Floors | 14 |
| Typical Floor Size | 20,546 SF |
| Year Built | 2007 |
| Lot Size | 0.98 AC |
| Parking Ratio | 0.35/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CCPD-BP |
Amenities
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Gameroom
- Grill
- Package Service
- Roof Terrace
- Bicycle Storage
- Elevator
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 123 | - | - |
| 2+2 | 100 | - | - |
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Very walkable
80/100
Very drivable
80/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Major Tenant Information
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Experiences For Mankind |
-
|
November 2022
|
| Dental Express |
-
|
July 2027
|
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Street View
Street
Map
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206-222 Park Blvd - Park Terrace