5304-5320 Custer St
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5304-5320 Custer St
12,563 SF Vacant Industrial Building San Diego, CA 92110 $4,100,000 ($326/SF)
Investment Highlights
- Sits squarely at the epicenter of central San Diego, its major development initiatives and at the intersection of Interstates 5 and 8.
- Tenant's lease expires March 31, 2025. The current rent at $0.50/SF NNN are less than 1/3 of market rent. Subtenants occupy the spaces.
- Owner-user or investment opportunity.
- Current industrial vacancy for the competitive set is 2.3% and market rent is $1.57/SF NNN.
- Easy access to all major San Diego freeways and walking distance to restaurants, two (eastbound and northbound) trolley stations and other Morena area
- This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited.
Executive Summary
Marcus & Millichap is pleased to present for sale 5304-5320 Custer Street. The offering, a rare opportunity for either owner-users or investors, is comprised of two adjacent parcels with metal construction warehouses, currently under one lease that expires March 31, 2025. 5304 Custer Street includes a Quonset hut and offers 5,192 square feet of building space on a 0.22 acre parcel. 5320 Custer Street includes multiple metal structures totalling 7,371 square feet of building space on a 0.30 acre parcel.
The offering sits prominently at the intersection of Interstates 5 and 8 in coastal central San Diego. It is wedged in the middle of the largest redevelopments in San Diego -- the $3 billion Riverwalk Golf Course project, the Midway Rising / Sports Arena redevelopment, NAVWAR redevelopment and immediately adjacent to the Tecolote Village planned
redevelopment. All of these developments will cumulatively add up to 20,000 residences and millions of Class A commercial square feet.
The IL-3-1 zone allows a mix of light industrial, ofce and commercial uses. The purpose of the IL zones is to provide for a wide range of manufacturing and distribution activities. The development standards of this zone are intended to encourage sound industrial development by providing an attractive environment free from adverse impacts associated with some heavy industrial uses. The IL zones are intended to permit a range of uses, including nonindustrial uses in some instance.
*This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited. Buyer will need to satisfy itself with respect to all investigations.
The offering sits prominently at the intersection of Interstates 5 and 8 in coastal central San Diego. It is wedged in the middle of the largest redevelopments in San Diego -- the $3 billion Riverwalk Golf Course project, the Midway Rising / Sports Arena redevelopment, NAVWAR redevelopment and immediately adjacent to the Tecolote Village planned
redevelopment. All of these developments will cumulatively add up to 20,000 residences and millions of Class A commercial square feet.
The IL-3-1 zone allows a mix of light industrial, ofce and commercial uses. The purpose of the IL zones is to provide for a wide range of manufacturing and distribution activities. The development standards of this zone are intended to encourage sound industrial development by providing an attractive environment free from adverse impacts associated with some heavy industrial uses. The IL zones are intended to permit a range of uses, including nonindustrial uses in some instance.
*This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited. Buyer will need to satisfy itself with respect to all investigations.
Property Facts
| Price | $4,100,000 | Lot Size | 0.52 AC |
| Price Per SF | $326 | Rentable Building Area | 12,563 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1970 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 4 |
| Building Class | C |
| Price | $4,100,000 |
| Price Per SF | $326 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.52 AC |
| Rentable Building Area | 12,563 SF |
| No. Stories | 1 |
| Year Built | 1970 |
| No. Drive In / Grade-Level Doors | 4 |
Amenities
- Fenced Lot
- Front Loading
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $106,120 | |
| Land Assessment | $2,281,596 | Total Assessment | $2,387,716 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,281,596
Improvements Assessment
$106,120
Total Assessment
$2,387,716
zoning
| Zoning Code | IL-3-1 (The IL-3-1 zone allows a mix of light industrial, office and commercial uses.) |
| IL-3-1 (The IL-3-1 zone allows a mix of light industrial, office and commercial uses.) |
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5304-5320 Custer St
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