3725-3729 El Cajon Blvd - Self-Storage Facilities FOR SALE


San Diego, CA 92105- Corridor | 
$5,300,000 USD
619-567-2677
3725-3729 El Cajon Blvd, San Diego, CA for Sale
$5,300,000 USD
Self-Storage Facilities - FOR SALE
1/7
null | 6.33% Cap Rate

3725-3729 El Cajon Blvd
San Diego, CA 92105
Corridor


HIGHLIGHTS

  • 5-story building with a freight elevator, parking, roll up door, 3-phase power, and signage, with immediate access to I-15 and I-805
  • 84.5% occupancy across a highly diversified rent roll of 71 tenants with evidence of durable, broad-based demand for the space
  • 60% NOI growth path driven by lease-up of vacant suites and mark-to-market rent increases
  • Flexible creative studio, maker space, and micro-storage suites, a use type with very limited comparable inventory in North Park's evolving market
  • In-place rents sit below the market-rent column throughout the roll, CAM recovery structure already in place to capture additional upside on turnover
  • Cell phone antenna income available

OVERVIEW

A five (5) story building with a freight elevator, parking, immediate access to Interstate 15 and 805, and a wide array of nearby amenities including restaurants, retail centers, gyms, parks, and recreation facilities. Current NOI of $335,368 (6.33% cap rate) growing to a proforma NOI of $536,849 (10.13% cap rate) at the $5,300,000 asking price, leading to a 60% NOI growth path driven by lease-up of vacant suites and mark-to-market rent increases. 71 individually-metered units spanning five stories of flexible creative studio, maker space, and micro-storage suites, a use type with very limited comparable inventory in North Park's evolving commercial base. 84.5% occupied across a highly diversified rent roll of 71 tenants, none of which represent outsized concentration risk, providing evidence of durable, broad-based demand for the space. In-place rents sit meaningfully below the market-rent column throughout the roll (e.g., current $36,090/mo vs. $51,170/mo market), with CAM recovery structure already in place to capture additional upside on turnover. The Property also has two (2) cell phone Antennas. These have been valued at $2,100,000 which is included in the Purchase price for a total offering of $7,400,000 or sold separately by Seller.

FOR SALE DETAILS

PRICE

$5,300,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

6.33%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

C

YEAR BUILT

1941

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

CN-1, City of S.D.

APN/PARCEL ID

447-260-03

ASK ABOUT THIS PROPERTY

Ryan KingCAST Capital PartnersMore Info
619-567-2677

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Ryan KingCAST Capital PartnersMore Info
619-567-2677

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