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Listed by Eric von Bluecher, DRE #01926201 • Lee & Associates
$ 4,495,000
Est. payment /mo
Active
2611 Adams AVE CA 92116
7,009 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRNDP2608921
Year Built 2025
Lot Size 7,009 Sqft
Source California Regional MLS
Property Description
NORTH PARK | SELLER FINANCING AVAILABLE. 2611 Adams Avenue is a fully renovated mixed-use income property along the highly desirable Adams Avenue Corridor. Offered at $4,495,000, the property features 10 furnished hotel suites currently operated by ownership plus a separately leased restaurant / hospitality component. Furnished suites have generated approximately $18,000/month in average historical income under current ownership. Seller is open to negotiating an approximately $15,000/month leaseback of the suite operations, with rent, term and other provisions negotiable. Restaurant is separately leased at $15,000/month under a long-term NN lease through August 2035 with 3% annual increases and additional percentage-rent potential. Fully renovated down to the studs in 2025. Prime North Park / Adams Avenue location. Approx. current 7.1% cap and $319K NOI based on current underwriting and owner-operated suite income.* Ideal 1031 exchange opportunity. Potential beer & wine license availability and owner-operator flexibility. Buyer to independently verify all financial, lease, licensing, use and property information.
Location
State CA
County San Diego
Area 92104 - North Park
Interior
Laundry None
Exterior
Garage Spaces 5.0
Pool None
Others
Tax ID 4450820100
Special Listing Condition Not Applicable
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