2602-2608 IMPERIAL AVENUE San Diego, CA 92102 2,200 SF RETAIL SPACE AVAILABLE www.ecpcommercial.com FOR SALE OR LEASE: 4,426 SF MIXED USE RETAIL BUILDING
AERIAL MAP PROJECT DETAILS Approximately 2,200 SF* of first floor retail available for lease *Potentially divisible Total building size of 4,426 SF MARKET STREET Great location in Grant Hill neighborhood near East Village & Golden Hill IMPERIAL AVENUE 2602-2608 IMPERIAL AVENUE (Click Here for Map) Easy access to public transportation City of San Diego Commercial-Neighborhood Zoning Great income potential from fully leased upstairs apartments Perfect for owner/user- street retail available for owner occupancy Lease Rate: $2.00/SF + NNN Sale Price: $1,250,000
San 10 Minu Dieg tes o Ai rpor t LOCAL COMMUNITY MAP Gaslamp District East Village Golden Hill / South Park Downtown San Diego Horton Plaza G STREET Embarcadero Marina South ter nc en nv AR BO Hilton RD nd E. H RIV E (Click Here for Map) IMPERIAL AVENUE Sherman Heights Trolley Lines 2602-2608 IMPERIAL AVENUE Sa Embarcadero Marina North en Convention Center MARKET STREET tio PETCO Park Marriott PE 5 M T in 7 ieg Mi CO utes n o C ute Pa o s rk Seaport Village Public Library 15TH STREET Hyatt Barrio Logan
SALE VS. LEASE ANALYSIS AFTER TAX EFFECTIVE MONTHLY COST PER RENTABLE SQUARE FOOT ANALYSIS OWNER/USER ECP Commercial APPROXIMATE OCCUPIED RENTABLE SQUARE FOOTAGE: 2,200 APPROXIMATE TOTAL SQUARE FOOTAGE: 4,400 PRICE PER SQUARE FOOT (shell plus tenant improvements): $284.09 TOTAL PROJECT COST: $1,250,000 DOWN PAYMENT %: 15% DOWN PAYMENT $: $187,500 LOAN AMOUNT: $1,062,500 INTEREST RATE: 5.10% AMORTIZATION: 25.00 ESTIMATED RENTAL INCOME WITH LEASEBACK TENANT INCOME (ANNUAL) $35,400 ESTIMATED ANNUAL PROPERTY EXPENSES (4): COMMON AREA MAINTENANCE (exclusive of electric) Estimated 6,000 INSURANCE (Current) 1,488 TAXES (1.15% of Sales Price) 14,375 TOTAL (5) $21,863 (=) Equals (=) Equals (=) Equals ANNUAL ANNUAL ANNUAL SUB TOTAL AVG. ANNUAL NET DEPRECIATION EFFECTIVE MORTGAGE PROPERTY TENANT ANNUAL DEBT PRINCIPAL PRE-TAX DEBT ANNUAL TAX ANNUAL DEBT EXPENSE (1) EXPENSES INCOME SERVICE EXP. PAYDOWN (2) SERVICE EXP. SAVINGS (3) SERVICE EXP. ($75,280) ($21,863) $35,400 ($61,743) $27,441 ($34,302) $10,341 ($23,961) MONTHLY COST PER SQUARE FOOT (PROPERTY) $1.17 $0.65 $0.45 EFFECTIVE MONTHLY EXPENSE / SF (OCCUPIED SPACE) $2.34 $1.30 $0.91 1. Based on Loan Amortization Table 2. Average annual principal paydown based on 10 year accumulation from Loan Amortization Table 3. Assumes 35% effective tax rate (state & federal) plus deduction for depreciation based on 27.5 year straightline estimated schedule - 65% (bldg value) of sale price. Consult your tax advisor. 4. Estimated expenses include estimated property taxes, plus estimated insurance, estimated maintenance, and estimated utilities. Please consult your tax advisor about property expenses which may be tax deductable. * Note: Consult with your tax advisor. There are no representations, recommendations or warranties as to the validity of this information or the impact of such on a sale. There are several assumptions made in this scenario and buyer should not rely on this information when making a purchase decision.
DEMOGRAPHICS & NEIGHBORHOOD DESCRIPTION Radius 1 Mile 3 Mile 5 Mile Population: 2021 Projection 45,400 223,793 530,609 2016 Estimate 43,457 213,184 505,884 2010 Census 42,880 203,042 484,595 Growth 2016-2021 4.47% 4.98% 4.89% Growth 2010-2016 1.35% 5.00% 4.39% 2016 Population Hispanic Origin 29,828 100,612 229,178 2016 Population by Race: White 35,354 166,740 359,636 Black 4,261 20,534 57,208 Am. Indian & Alaskan 849 3,204 7,647 Asian 1,392 14,234 58,977 Hawaiian & Pacific Island 170 1,069 3,354 Other 1,431 7,403 19,063 Households: 2021 Projection 15,725 86,754 193,168 2016 Estimate 14,958 82,166 183,564 2010 Census 14,302 76,658 174,519 Growth 2016-2021 5.13% 5.58% 5.23% Growth 2010-2016 4.59% 7.19% 5.18% Owner Occupied 2,894 26,051 60,465 Renter Occupied 12,064 56,115 123,099 2016 Avg Household Income $53,484 $77,159 $71,213 2016 Med Household Income $35,518 $50,891 $49,446 2016 Households by Household Inc: <$25,000 5,631 22,308 47,395 $25,000 - $50,000 3,867 18,251 45,275 $50,000 - $75,000 2,178 12,768 31,101 $75,000 - $100,000 1,177 8,310 20,150 $100,000 - $125,000 928 6,149 13,996 $125,000 - $150,000 370 3,942 7,524 $150,000 - $200,000 471 4,611 8,583 $200,000+ 337 5,826 9,539 GRANT HILL VOTED ONE OF SAN DIEGO S NEXT HOT NEIGHBORHOODS - SAN DIEGO MAGAZINE Just south of South Park and east of East Village, within walking distance to downtown and close to the 5, 163, and 94 freeways. The diverse community is composed of families who have lived here for generations and newcomers who favor hipper neighborhoods. Grant Hill is seeing an influx of people escaping pricey downtown. There s also a new Walmart Neighborhood Market. Grant Hill Park offers a great place to meet up, plus stunning views of downtown. The area boasts a variety of historic houses built in the early 1900s, from California bungalows to Spanish colonials. Sherman Heights has also been voted one of the top ten most walkable neighborhoods in San Diego.
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