SOLD-November 2019 $6.5M. The International Shops of La Jolla

1237 Prospect St. La Jolla, CA. 92037

$7,150,000 USD

Property Overview

UPDATE: NOW SOLD. Read more at https://www.sdbj.com/news/2019/nov/28/international-shops-la-jolla-sold-65m/

Capital Growth Properties is pleased to present the opportunity to purchase this one of a kind retail/office opportunity located in one of San Diego’s most sought after communities. This highly desirable location is situated in the heart of La Jolla’s vibrant restaurant & retail corridor and within close proximity to world famous hotels and beaches.

The property consists of a rectangular shaped parcel of land containing approximately 24 units which is situated on approximately 0.213 acres and is improved with a 1 and 2‐story retail/office building containing approximately 7,196 square feet of floor area. Located on the highly desirable Prospect Street with approximately 40 feet of frontage, this multi‐tenant retail/office building has enjoyed historically high occupancy.

Address1237 Prospect St. La Jolla, CA. 92037
Asking Price$7,150,000 ($993.00/Sq. Ft.)
Current Cap Rate4.46%
Market Cap Rate6.27%
Property SizeBuilding Area: 7,196 Sq. Ft.
Land Area: 9,300 Sq. Ft.
DescriptionOne (1) Retail/ Office building situated on 1 parcel
Current Occupancy96%
Ownership TypeFee Simple

Property Highlights

  • Prime retail/office space on prestigious Prospect Street in the
    heart of the La Jolla Shopping area
  • Charming courtyard
  • Surrounded by extraordinary world class shopping and dining
  • Thriving tourist destination and local hotspot with high daytime
    and evening foot traffic
  • Premier destination year round in one of the nation’s most
    affluent communities

Property Description

Construction Detail

Construction TypeWood Framed
Exterior Walls / FaçadeConcrete Masonry & Painted CMU
Roof DescriptionPlywood sheathing
Floor StructureConcrete slab on grade with a reinforced concrete perimeter foundations with deeper, isolated interior pad footings, interconnected with a concrete slab‐on‐grade floor system.
HVACRoof and overhead ceiling mounted HVAC
Walls and CeilingsPainted drywall with suspended acoustic tile ceilings and fluorescent lighting
Stairwell AccessServing the second floor units
UtilitiesGas/Electricity—SDG&E
Water—San Diego Water District
Cable—Spectrum

Sales agents

Todd Law

Todd Law

858.729.9305

Contact agent

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