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437 S Highway 101 - BeachWalk Shopping Center - Beachwalk, Solana Beach, CA

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437 S Highway 101 - BeachWalk Shopping Center - Beachwalk

Solana Beach, CA 92075-2228 - Del Mar/S Bch/Rho SF Ret Submarket


Property Type:Retail Sub Type:- Status:Existing Year Built:1993
Building Size:14,576 SF Land Area:1.61 AC (70,275 SF)
For Sale Price:For Sale Price/SF:-
Cap Rate:5.00 %
Parking:Free Surface spaces are available; 100 Covered spaces are available; Ratio of 4.87/1,000 SF



Sale Notes:
Description
* Irreplaceable Coastal San Diego, Highway 101 Location BeachWalk is ideally situated along Highway 101 in the heart of Solana Beach steps to the Pacific Ocean, walking distance to the Cedros Design District and Amtrak Train Station, and less than a mile from the world famous Del Mar Fairgrounds, site of the Del Mar Racetrack, and over 350 events annually

* Below Market Rents The majority of the tenants at BeachWalk are paying below market rents (approximately 17% below market property-wide)

* Exceptional NOI Growth Through embedded rental increases and rolling below market rents to market, the NOI is projected to grow more than $942,000 (49%) during an investor' s 10-year hold period creating a strong inflation hedge

* Highly Affluent, Coastal San Diego County Demographics Average household incomes exceeding $140,700 in Solana Beach, $145,200 within a 3-mile radius, and $146,300 within a 5-mile radius
* Synergistic Tenant Mix BeachWalk offers a complementary mix of national, regional and local restaurants, service tenants and light medical uses, serving as a point of destination within its submarket. Brand names and local favorites include California Pizza Kitchen, Alfonso' s of La Jolla, Rubio' s Coastal Grill, Banfield Pet Hospital, and other established tenants

* Convenient Access and Owned On-Site Parking BeachWalk offers convenient surface and structured (owned!) parking (302 stalls total, 5.5 stalls per 1,000 SF ratio available at no charge to customers). This abundant parking is a unique attribute among coastal retail properties, and would prove exceptionally expensive to replicate, further enhancing BeachWalk' s irreplaceable nature

CBRE
Phil D Voorhees
(949) 725-8521

Kirk Brummer
(949) 725-8418

John Read
(949) 725-8606

James Slusher
(949) 725-8507




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