LEMON GROVE - San Diego, CA (August 20, 2024) – Commercial Asset Advisors is pleased to announce the successful sale of a mixed-use building to a well-established local investor/business owner. The mixed-use building totaling 8,237 rentable square feet includes approximately 3,955 rentable square feet of retail space and 4,282 rentable square feet of apartment units. The six apartment units include five two-bedroom, one-bathroom units, and one studio apartment. The property, located at 7604-7608 Pacific Avenue and 3315 Buena Vista, Lemon Grove, CA 91945 sold for $2,487,000 on July 31, 2024. The buyer plans to occupy 100% of the retail space for their business while continuing to collect rent from the six apartment units included in the property.
Matthew Monterroso, Senior Vice President of Commercial Asset Advisors represented the Seller. The Buyer was represented by Eric Sanchez of BBR Partners Inc. Rob Shaw of Chicago Title and Tyler Smith of Fidelity National Title assisted with the transaction.
"I am pleased to have facilitated a successful real estate transaction for a local San Diego business owner. The property's distinctive mixed-use layout provided the buyer with an ideal location for his business, while also offering the opportunity to generate passive income through rent from the six included apartment units." - Matt Monterroso stated.
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm's ability to maximize values regardless of product type, location, or situation.
For additional information, you may contact:
Matthew Monterroso, Senior Vice President (DRE Lic. #02073919), at matt@caacre.com
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About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,500 sale and lease transactions totaling over $1.5 billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.
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