1950 Cable St
San Diego, CA 92107
Autozone multi-tenant - San Diego CA · Retail Property For Sale

ABSOLUTE NNN GROUND LEASE - Provides for a management free income stream EXCELLENT ACCESS AND VISIBILITY WITH PARKING - Directly across the street from CVS, a major retail traffic generator for the trade area with very limited retail - Property benefits from exclusive parking in front of the storefronts which is a rare amenity for retail tenants in this dense coastal trade area LONG-TERM LEASE & 30+ YEAR HISTORICAL OCCUPANCY - Ground lessee just exercised the first 5 year option at fair market rent after the original 30 year primary term - Both current subtenants AutoZone (and their predecessor Chief Auto), and Launderland have occupied the property as subtenants since it was constructed in 1985 SIGNIFICANTLY BELOW MARKET RENT FOR IMPROVEMENTS / ~10% PROFORMA CAP IN IMPROVEMENTS - Ground rent is estimated to be over ?? below the proforma market rent for the improvements, offering potential upside upon reversion of the improvements to Landlord (see lease comp map for details) TROPHY SAN DIEGO COASTAL LOCATION / HIGH BARRIERS TO ENTRY - Two blocks from the beach, with a population of approximately 19,800 within 1 mile of the subject property - Ocean Beach is a very underserved trade area with limited retail for the population and no vacant land for new retail construction