Property Details

  • Price $34,000,000
  • CAP Rate 3.20%
  • Property Type Retail

Property Description

Essential CRE is pleased to offer for purchase the single tenant net leased Whole Foods grocery store located at 711 University Avenue in Downtown San Diego. The original 10-year lease was executed in 2006 with the with Whole Foods currently in their first of four, 5-year options.  The subject property is 28,000 square feet, resides on 1.09 acres of land, and is situated at a signalized intersection with excellent visibility, access and roof-top parking.

Investment Highlights

  • — Trophy, Downtown San Diego Location with Rooftop Parking
  • — Strategically Positioned High-Visibility, Hyper-Core Location
  • — Top Performing Store in Region with Reported Sales
  • — NNN Lease with Annual Rent Increases (CPI 2% Min-3% Max)
  • — Amazon Guaranteed Lease with 4 Years Remaining in 1st Option