PRICE REDUCED - Investor-Operator Opportunity, Owner Financing Available -Irreplaceable Property. The property is one-of-a-kind with optimal design & construction. The creative & unique architecture takes full advantage of the expansive outdoor space. Operable windows, vaulted & exposed ceiling, expansive patio areas & indoor/outdoor environment provides the perfect atmosphere for the highly sought-after lifestyle office space.
The current ownership is in the process of obtaining a commercial condominium map to provide the ability to sale 4-5 units individually. An investor may purchase with the ability to sell individual condos as an exit strategy. There has never been a commercial condo project in the immediate trade area which should fuel fantastic interest from pent-up demand.
Mixed-use reposition opportunity. The Property provides investors an opportunity to reposition a 11,757 square foot office project to a more favorable zoning of residential or up to 49% multi-family. A condo conversion could also bring significant upside in value. Significantly below replacement const. Sale price is anticipated to be below current reproduction costs of an anticipated $1,114/per square foot.
Ideal investment opportunity. Free-standing building on its own lot with beautiful design and quality improvements. Doors on front and back of building allow for excellent building circulation with spectacular ocean breezes and views of the Pacific Ocean.
The Property’s elegant construction coupled with its extraordinarily high-end finishes create an ideal investment opportunity for a new owner. Unsurpassed coastal location. Located in Del Mar Village, one of San Diego’s most desirable communities with immediate access to both North & South San Diego County via Interstate 5 & Eastern parts of the County via the 56 Highway. Additionally, 853 Camino Del Mar lies within one of San Diego’s most affluent neighborhoods & is surrounded by the communities of Rancho Santa Fe, La Jolla, Solana Beach & Encinitas; which house the vast majority of San Diego’s executive pool.
Well performing market fundamentals. The Property is located between the Del Mar Heights office corridor & the Coastal Beach Cities of North County, the most vibrant & sought after areas for corporate offices. Demand for creative coastal office space is at an all-time high with vacancy remaining relatively constant since 2015 at approximately seven percent (7%). Projects in Del Mar Heights are achieving rents ranging from $4.50 - $5.45 per square foot range and escalating.