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PRICE REDUCTION 1130 D St 14,772 SF 100% Leased Retail Building Ramona, CA 92065 $2,900,000 ($196.32/SF) 5.92% Cap Rate
Executive Summary
Mixed use building with a 3400 sq ft, or so, restaurant leased out for another 8 1/2 years. Thai food, called Basil Leaf. One apartment upstairs, and (14) 675 sq ft office and service spaces. Fully occupied. The onsite Property Manager occupies #4 and pays no rent in lieu of getting paid a management fee. Unit #5 lease started on 4/28 for three years. Leases are modified gross and each unit is SDG&E metered. The NOI is calculated with the new property tax rate at this price. Ample parking, 49, or so, spaces. Original owner, as he built this in 1979.
Newer parking lot surface and roof.
Newer parking lot surface and roof.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,772 SF
Building Class
C
Year Built
1979
Price
$2,900,000
Price Per SF
$196.32
Cap Rate
5.92%
NOI
$171,798
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.87
Lot Size
0.39 AC
Zoning
Mixed Use - Zoned commercial mixed use.
Parking
49 Spaces (3.32 Spaces per 1,000 SF Leased)
Frontage
284’ on D St
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $943,530 | |
| Land Assessment | $396,703 | Total Assessment | $1,340,233 |
Property Taxes
Parcel Numbers
Land Assessment
$396,703
Improvements Assessment
$943,530
Total Assessment
$1,340,233
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PRICE REDUCTION | 1130 D St