9663 Tierra Grande - Office FOR SALE


San Diego, CA 92126- Miramar
$6,708,000 USD
858-527-2727
9663 Tierra Grande, San Diego, CA for Sale
$6,708,000 USD
Office - FOR SALE
1/9
null | 8% Cap Rate

9663 Tierra Grande
San Diego, CA 92126
Miramar


HIGHLIGHTS

  • Very High Retention 100% Leased Small Tenant Office Building
  • Compelling Market Fundamentals With Strong Projected Growth
  • Highly Accessible Amenity Rich Location

OVERVIEW

Very High Retention 100% Leased Small Tenant Office Building * Over the past 10 years, the property has never had more than one suite vacant. In fact, over the past ten years (including during the recent pandemic), the property remained 100% leased. * The existing 9 tenants average a historical occupancy over 10 years at the subject property. * Priced to an attractive Year One 8.00% Cap Rate or Year One 9.20% Leveraged Return, new ownership will enjoy very strong return with minimal headache, management and capital costs. * The building has gone through an extensive remodeled and provides excellent egress/ingress with dynamic surrounding retail amenities. * IL-2-1 zoning provides added flexibility for a new owner with the ability to accommodate medical uses. Compelling Market Fundamentals With Strong Projected Growth * As of July 2025, the Miramar office vacancy is only 6.4% and has remained under 7.0% for the past five years. This market remains robust with tenants rarely moving out. * Over the past 10 years, over 80% of the San Diego office leasing was under 5,000 SF making the subject property in high demand for the foreseeable future. * Miramar remains a lower cost alternative to the adjacent high-rise Class A market UTC where rents are more than double and traffic remains a problem. Highly Accessible Amenity Rich Location * 3Roots and Stone Creek Development: Currently the largest development in Central San Diego with 5,500 new residential units, 1M SF of commercial space, 150 room hotel, parks and open space. It’s expected to increase the population by over 20% by 2030. * The Watermark: Over 900,000 SF of retail, office and hotel space. * New Mixed-Use Shopping Center: Starbucks, Jamba Juice and 170 Apartments. * Scripps Ranch Tech Park: 55-acre business park where 23 acres was recently sold to Shea Homes for a large residential development. * Irreplaceable location within one minute from the I-15 freeway, providing access to all Southern California.

FOR SALE DETAILS

PRICE

$6,708,000 USD

PRICE/SF

$254 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

56

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

IL-2-1, San Diego

APN/PARCEL ID

341-230-76

ASK ABOUT THIS PROPERTY

Matt PourchoCBRE, Inc.More Info
858-527-2727

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

Matt PourchoCBRE, Inc.More Info
858-527-2727

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