The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 28, 2023
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Carlsbad Retail Asset Sells for $976/sf


A San Diego-based private investor purchased the 4.6k sf, 100% occupied multi-tenant retail center located in the heart of the Carlsbad Village area, for $4.475 mil ($976/sf). The property is located at 711 Grand Ave, less than a ½ mile from the I-5 Fwy.

The center is below the 11-unit Grand Madison luxury condominium complex. It is situated within walking distance of the beach, train station, resort hotels, shops and the neighboring residential community, earning the property an impressive Walk Score rating of 95 out of 100.

Built in 2019, the three-unit center is home to Harumana Noodles + Buns, Village Optical and The Shop Salon all of which are on NNN leases. In addition to drawing customers from the Grand Madison, several other luxury developments have recently opened in the immediate area including the 33-unit Carlyle Carlsbad Village (2020) and the 106-unit The Lofts at Carlsbad Village (2021). The average household income within 5-minutes of the property is $117,000+.

Mike Lin with Progressive Real Estate Partners represented the seller, a private New York-based investor. The buyer was repped by Josh Simms and Ryan King from Voit Real Estate Services. The deal closed at a 4.75% cap rate.

“The excellent location in the heart of Carlsbad, new modern construction, e-commerce resistant tenant mix and nearby attractions made the property very desirable,” noted Lin. “Not only did the property go from listing to close within 90 days, we were able to sell the center for 98% of the asking price”.

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media