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Plaza Encinas

5055 Avenida Encinas
Carlsbad, CA 92008
Availability: Price:$6,000,000 Size:19,845 SF
Shipping: Marcus & Millichap is pleased to present Plaza Encinas in Carlsbad, CA.
Pricing: $0.00
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

BRAD PETERS | Associate


Managing Partner: Tashakorian Group
License: CA 02025155
Dir: (858) 373-3227
Cell: (805) 208-6210
brad.peters@marcusmillichap.com

Description

Marcus & Millichap, as exclusive advisor is pleased to present the extremely rare opportunity to acquire Plaza Encinas, located West of the I-5 in Carlsbad, CA. This property consists of a twostory 19,845 square foot, multi-tenant office building less than a quarter mile from Interstate 5 and within a 10 minute walk to the beach. Built in 1985, the building features a wood frame and stucco construction and sits on a 1.0 acre parcel. The Property accomodates suites ranging in size from 978 SF to 5,089 SF. The Property currently rents at $1.73 per SF in a market that is $2.65, so with two-three years left on the current term, the property can be leased north of $2.75 upon acquisition and subsequent lease expiration. Located just off the Cannon Road exit, the building is within walking distance to the beach and a quick drive from major retail, restaurants, hospitality and office space. As a further nod to the perfection of the location, over 200,000 square feet of former industrial space has been converted to creative office, attracting a community of highly talented, outdoor-minded millennials. Not the least of which, Go-Pro recently secured 42K square feet of such space. This shift has attracted some of the premier southern California office owners to the area. A neighborhood move that only further assures future upside to an idyllic area where “even better” is concept hard to imagine.

Features

  • Extremely Rare Opportunity, Carlsbad – West of the 5
  • Less than 0.25 Miles to I-5, A Short Walk to the Beach and Easy Coaster Access
  • Significant Upside with Lease-Up and Below Market Rents Until 2019
  • Access Major Retail, Restaurants and Legoland with a 5 Minute Drive

Offering Price

$6,000,000

Net Rentable Area

19,845 SF

Price Per SF

$302.34

Year 1 CAP Rate

6.15%

Year 1 NOI

$369,017

Occupancy (Current)

83%

Parking Spaces

56 Surface Spaces

Stories

2

Details

  • 22932290
  • Office
  • Price:$6,000,000 Size:19,845 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Marcus & Millichap is pleased to present Plaza Encinas in Carlsbad, CA.

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