360 390 E San Ysidro Boulevard, San Ysidro, CA 92173
Commercial property
Sold March 2023
Listing Agent: Paul Locker (DRE #00643224) · Listing Office: Locker Realty Corp. · Contact: 818-956-8800 · Bought with: NONE NONE · None MRML · MLS #GD22208199 · Source: CRMLS
About this commercial property
25% Ownership Interest for Sale. Seasoned ground lease since 1977 with approximately 53 years remaining (February 2076). Lessee pays all expenses. Nearly 40,000 sq. ft. of tenant owned buildings (5), situated on 1.56 acres of CC-3-4 zoned land. Reversionary Interest in leasehold improvements at end of lease term. Fair market value adjustments in monthly rent each 10 years. Next rental adjustment will take place March 2028. Annual rental is currently $72,000 ($288,000 x 25% = $72,000). Favorable cap rate of 7.68%.
Listing description from the March 2023 sale, as reported to CRMLS.
Sale history