CBRE is pleased to present the existing freestanding one story stucco and masonry Rite Aid Building and adjacent parking lots located at 4840 Niagara Avenue (“the Site”), a premier redevelopment site or owner user opportunity in the vibrant Ocean Beach submarket of San Diego, California. This site offers exceptional potential for residential and commercial development in a highly desirable coastal community. For owner-users, this 20,155 square foot building (130’ Wide x 154’ Depth) will be available when tenant vacates 7/31/25. The project includes approximately 100 spaces in a highly desirable, yet parking-constrained trade area. This Big Box opportunity with parking in the CC4-2 zoning designation allows for retail and commercial uses including: grocery, general retail, business and professional offices, fitness, medical practitioners, commercial vehicle repair sales and rental, and moving and storage facilities. This ±1.66-acre property is strategically located in the Ocean Beach submarket at the busy corner of Sunset Cliffs Boulevard and Niagara Avenue, known for its eclectic charm, numerous events and festivals, and proximity to the Pacific Ocean. Located within the Complete Communities Housing Solutions zoning overlay, the site can accommodate high density multifamily development. The site also supports for-sale residential development as well as commercial development opportunities such as retail or mixed-use projects. 4840 Niagara Avenue benefits from its prime location in one of San Diego’s most sought-after coastal neighborhoods. Ocean Beach is renowned for its laid-back, surf-centric culture and strong housing demand, with sales for new townhome product exceeding $1.4 million. The site’s proximity to major employment centers in downtown San Diego, Mission Valley, and the burgeoning life sciences and technology hubs along the I-5 and I-8 corridors further enhances its appeal. Additionally, the area is well-served by public transit and offers easy access to major highways, making it an ideal location for both residents and businesses.