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Punch Bowl Social 1485 E St 20,523 SF Retail Building San Diego, CA 92101 $7,000,000 ($341.08/SF) 8.46% Cap Rate
INVESTMENT HIGHLIGHTS
- Dense Urban Location with Convenient Accessibility
- Built in NOI Growth
- Credit Tenancy – 100% leased to Punch Bowl Social
EXECUTIVE SUMMARY
Located in San Diego’s vibrant East Village, the Coliseum at 1485 E Street—home to Punch Bowl Social—is a premier dining and entertainment destination.
With its prime location, upscale amenities, and substantial tenant improvements to the building, this property is poised for continued success and growth.
-Dense Urban Location with Convenient Accessibility Downtown San Diego East Village is home to many new restaurants, Petco Park, numerous new apartments and condo developments, totaling 11,000 residential units
-Irreplaceable Urban Real Estate - Due to the downtown nature of this location and the density of the trade area, developable commercial land is scarce making this property virtually irreplaceable.
-Favorable Master Leasehold Estate - This is an opportunity to purchase ±20,523 sq ft of physical improvements under the terms of a long term 55 ground lease (47 years remaining); with ‘right of first offer’ to purchase the premises from ground lessor during the initial 55 year lease term.
-Recent Renovation - Tenant recently underwent an extensive renovation at its sole cost, further proving the tenant’s long-term commitment to this location.
-Credit Tenancy – 100% leased to Punch Bowl Social, founded in 2012 and which has experienced significant growth and recognition for its unique concept. Now operating 14 locations across the nation.
-Built in NOI Growth - The asset offers fixed increases every 5 years allowing for passive income growth.
With its prime location, upscale amenities, and substantial tenant improvements to the building, this property is poised for continued success and growth.
-Dense Urban Location with Convenient Accessibility Downtown San Diego East Village is home to many new restaurants, Petco Park, numerous new apartments and condo developments, totaling 11,000 residential units
-Irreplaceable Urban Real Estate - Due to the downtown nature of this location and the density of the trade area, developable commercial land is scarce making this property virtually irreplaceable.
-Favorable Master Leasehold Estate - This is an opportunity to purchase ±20,523 sq ft of physical improvements under the terms of a long term 55 ground lease (47 years remaining); with ‘right of first offer’ to purchase the premises from ground lessor during the initial 55 year lease term.
-Recent Renovation - Tenant recently underwent an extensive renovation at its sole cost, further proving the tenant’s long-term commitment to this location.
-Credit Tenancy – 100% leased to Punch Bowl Social, founded in 2012 and which has experienced significant growth and recognition for its unique concept. Now operating 14 locations across the nation.
-Built in NOI Growth - The asset offers fixed increases every 5 years allowing for passive income growth.
DATA ROOM Click Here to Access
- Offering Memorandum
- Miscellaneous
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
20,523 SF
Building Class
B
Year Built/Renovated
1920/2017
Price
$7,000,000
Price Per SF
$341.08
Cap Rate
8.46%
NOI
$592,426
Tenancy
Single
Building Height
1 Story
Building FAR
0.98
Lot Size
0.48 AC
Zoning
CCPD-ER - C- COMMERCIAL
AMENITIES
- Signage
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (80)
Bike Score®
Very Bikeable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 534-354-06 | Improvements Assessment | $783,393 |
| Land Assessment | $2,901,463 | Total Assessment | $3,684,856 |
PROPERTY TAXES
Parcel Number
534-354-06
Land Assessment
$2,901,463
Improvements Assessment
$783,393
Total Assessment
$3,684,856
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Punch Bowl Social | 1485 E St
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