322 Encinitas Blvd, Encinitas, CA 92024

Property Description

Ocean views meet opportunity in Encinitas! Investment or Owner-User meticulous Class B building. This 10,000 SQFT 2 Story property boasts 31 Suites & 45 Parking Spaces. Suites allow for flexible tenant configuration. New roof and solar added for inexpensive operating costs. Floor 1 completely modernized & refinished. Close to Downtown Encinitas Shopping & Dining; less than a Mile from the Encinitas Coaster Station & the crashing waves of Moonlight Beach. Work where you Beach, Beach where you work in this desired Coastal Community. *Call Listing Agent for Financials and Offering Memorandum. - Owner-user opportunity: flexible suite sizes and lease terms allow an owner-user to occupy over 51% of the property at close of escrow; highly visible building signage currently available for an owner-user. - Investment opportunity: below market rents and executive suite infrastructure present investors multiple avenues to significantly increase returns. - Ideal coast location: minutes away from downtown Encinitas and walking distance to multiple retail amenities; balcony ocean view. - Premier accessibility: immediate access to I-5 via the Encinitas Blvd on/off ramp with freeway visible signage. - Record low interest rates: SBA interest rates as low as 3.5% provide affordable tenancy for an owner/user. - Market demand: high demand market for small office space. - Barriers to market entry: no new projects under construction of any scale. - Project upgrades: brand new roof & solar installed in 2016 have significantly decreased operating costs; first floor renovated in 2018 with high-end finishes and upgraded restrooms. - Year 1 Cap Rate at Market Rents: 6.23% Cooling: Central Forced Air Elec