6172-6196 University Ave 20,934 SF 90% Leased Retail Building San Diego, CA 92115 $7,460,000 ($356.36/SF) 6.30% Cap Rate

6172-6196 University Avenue presents for sale a 20,934-square-foot retail and mixed-use property spanning three parcels at a high-traffic intersection on University and College Avenues. The property boasts a strong passive income stream, with many tenants holding lease terms of three or more years. Notably, some tenants have been part of the center for over a decade, demonstrating long-term stability and commitment.

The unit mix includes nine retail units, three warehouse units, 17 small industrial workshops, and a three-bedroom apartment. Set upon a 0.82-acre lot with 28 dedicated parking spaces and ample street parking, with zoning designations (RS-1-7 & CC-4-3) and inclusion in the Central Urbanized Planned District. The site has undergone approximately $1 million in renovations over the last three years to bring it up to par with city code and modernize the units.

Located in the Mid-City Eastern Area, a designated Transit Priority Area, the site offers strong visibility, stable cash flow, and long-term upside due to its central location near housing and public transportation. Situated prominently on University Avenue, a bustling thoroughfare with over 36,016 vehicles passing by daily, this property offers a strategic advantage for maximizing exposure. The immediate vicinity is enriched by a mix of national and local retailers, creating a synergistic environment for commerce and convenience for residents. The neighborhood is predominantly residential, housing over 575,477 people with a median household income of $98,505. This contributes to a substantial $7 billion in total consumer spending, making it an attractive location for businesses.

With a 6.3% cap rate and an impressive 8.67% at pro forma, this property offers robust income potential, exceptional visibility, and a prime location. 6172-6196 University Avenue stands out as a remarkable investment opportunity in one of the city's most dynamic corridors.