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The Reserve 2333 State St 15,702 SF 100% Leased 4-Star Office Building Carlsbad, CA 92008 $11,700,000 ($745.13/SF) 6% Cap Rate
Investment Highlights
- Expansive Zoning with Future Upside - Immediate 6% Return on Cost
- Unobstructed Views of the Pacific Ocean and Buena Vista Lagoon with Operable Windows
- Potential for Condo Map
- Premium Finishes Not Found in Any Other Office Building in the Village
- Brand New, Top-Tier Interior Improvements Throughout; 76% Medical
Executive Summary
The Reserve stands in a class of its own. Located at the northern entry point into Carlsbad Village, this premier property offers unmatched visibility and a commanding presence. Between 2022-2025, ownership completed extensive renovations, including a refreshed exterior facade, new outdoor areas and landscaping, and an updated lobby. All interior suites feature newly constructed, high-end creative improvements. The Reserve is fully stabilized, generating strong in-place cash flow from existing tenants while maintaining rollover flexibility ideal for an owner/user investor.
Additionally, the existing three-story office building offers developers a rare covered-land opportunity, with in-place income generating an immediate 6% return on cost. The property is positioned for significant land value appreciation over the next decade, supported by annual rent escalations of 3%. This ocean view, 1 acre site offers a variety of future development and redevelopment opportunities.
Additionally, the existing three-story office building offers developers a rare covered-land opportunity, with in-place income generating an immediate 6% return on cost. The property is positioned for significant land value appreciation over the next decade, supported by annual rent escalations of 3%. This ocean view, 1 acre site offers a variety of future development and redevelopment opportunities.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
15,702 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1977/2022
Price
$11,700,000
Price Per SF
$745.13
Cap Rate
6%
NOI
$702,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
5,234 SF
Slab To Slab
9’
Building FAR
0.36
Lot Size
0.99 AC
Zoning
Village Center (VC) - most expansive zoning in the Village - highest density and best development standards. Base Density - 35 dwelling units/acre, 45' height
Parking
50 Spaces (3.18 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Direct Elevator Exposure
- Natural Light
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Out The Window Advertising
- Professional, Scientific, and Technical Services
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$9.99
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Out The Window Advertising | Professional, Scientific, and Technical Services | - | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Walker's Paradise (90)
Property Taxes
| Parcel Number | 155-200-04 | Improvements Assessment | $2,122,416 |
| Land Assessment | $5,306,040 | Total Assessment | $7,428,456 |
Property Taxes
Parcel Number
155-200-04
Land Assessment
$5,306,040
Improvements Assessment
$2,122,416
Total Assessment
$7,428,456
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The Reserve | 2333 State St
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