340 3rd Ave - Restaurant FOR SALE


Chula Vista, CA 91910- Downtown Chula Vista | 
$2,550,000 USD
858-900-3700
340 3rd Ave, Chula Vista, CA for Sale
$2,550,000 USD
Restaurant - FOR SALE
1/9
null | 6.12% Cap Rate

340 3rd Ave
Chula Vista, CA 91910
Downtown Chula Vista


HIGHLIGHTS

  • NEW 5-YEAR NNN: Below-market rent commencing February 2026; tenant covers roof, structure, HVAC, taxes, and insurance.
  • 4% ANNUAL INCREASES: Rent bumps well above typical net-lease schedules, a hedge against inflation.
  • FMV OPTIONS: Three 5-year options reset to fair market value with a floor at prior rent — rent cannot decrease.
  • THIRD AVENUE VILLAGE: Downtown Chula Vista dining district facing Memorial Park; 30+ food and drink spots in four blocks.
  • 660 PARKING SPACES: 10 exclusive stalls plus 650 free spaces in the city garage about 25 feet from the door.
  • DENSE TRADE AREA: 441,000+ residents within 5 miles; average HHI above $114,000 in San Diego County's second-largest city.

OVERVIEW

CIRE Partners is pleased to exclusively present for sale Kalaveras Restaurant & Bar at 340 3rd Ave, Chula Vista, CA 91910. The ±7,800 SF NNN restaurant is offered at $2,550,000 (6.12% cap, $156,000 NOI). A new 5-year below-market lease commenced February 2026, with 4% annual increases and three 5-year FMR options that cannot step down. The tenant covers roof, structure, HVAC, taxes, and insurance. The site faces Memorial Park in Third Avenue Village, with a large outdoor patio, 10 exclusive stalls plus 650 free garage spaces, and more than 441,000 residents within five miles.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$327 USD /SF

CAP RATE

6.12%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kalaveras - Chula Vista, CA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

V 3, West Village

APN/PARCEL ID

568-270-23

ASK ABOUT THIS PROPERTY

Renato LorjaCIRE PartnersMore Info
858-900-3700

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Renato LorjaCIRE PartnersMore Info
858-900-3700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.