6.36% Cap | Boutique Suites + NNN Restaurant 2611 Adams Ave 11 Room Hotel San Diego, CA 92116 $4,495,000 ($408,636/Room) 6.36% Cap Rate

The Von Bluecher Group at Lee and Associates is proud to present 2611 Adams Avenue, a fully rebuilt 2025 mixed use opportunity located in the heart of North Park along San Diego’s highly desirable Adams Corridor.
This newly reconstructed property combines stabilized restaurant income with 10 fully furnished luxury boutique suites, creating a rare diversified income opportunity in one of San Diego’s most walkable and supply constrained urban neighborhoods.
Investment Highlights
• Approximately $41,215 per month projected combined income
• 6.36% cap rate
• 9.09 GRM
• $15,000/month NNN restaurant lease
• 10 fully furnished luxury boutique suites
• Ground up rebuild completed in 2025
• Potential AB1482 exemption associated with newer construction
• Five on site parking spaces
• Multiple financing options including SBA and potential seller financing
Situated on a 7,009 square foot lot, the property includes approximately 3,360 square feet of total building area with high end interior and exterior finishes, modern open floor plans, and a fully curated hospitality driven environment.
The residential component consists of 10 fully furnished boutique suites totaling approximately 2,330 square feet. Six suites are approximately 285 square feet and four suites are approximately 155 square feet. Each suite includes a private bathroom, wet bar amenities, and modern finishes designed for short term rental, corporate housing, extended stay, or flexible multifamily use.
The suites are projected to generate approximately $26,215 per month at an estimated 80% occupancy rate, reflecting strong demand for furnished housing in North Park and the Adams Corridor.
The commercial component includes a 1,030 square foot tap room with a full bar, indoor dining area, walk in refrigerator, storage areas, and two restrooms. The combined tap room and outdoor patio area totals approximately 3,500 square feet, creating a vibrant indoor outdoor hospitality setting. The restaurant space is leased to Una Mas on Adams and complemented by Gold Soul Craft Coffee, generating consistent neighborhood traffic and activation throughout the day.
This section of Adams Avenue continues to attract strong private capital and 1031 exchange demand due to its walkability, neighborhood energy, restaurant scene, and limited supply of renovated mixed use product.
Some income and expense figures are projected and estimated. Buyer to verify all financials, square footage, short term rental regulations, and conduct their own due diligence.
For additional information and access to the full marketing package, please contact The Von Bluecher Group at Lee and Associates.