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Redevelopment Opportunity
Point Loma / Adjacent to Liberty Station
Mixed-Use Apartment / Condo Site
2844 - 2918 Lytton Street San Diego, CA 92110
Redevelopment Opportunity
Point Loma
Adjacent to Liberty Station
Mixed-Use Apartment / Condo Site
Table of Contents
I nves tmen t Overv iew
S i te Aer ia l
Ex is t i ng St ruc tures
Communi ty P lan
Nearby Deve lopments
Condo Sa le Compa rab les
Apar tmen t Ren ta l Comparab les
Loca t ion
A rea Demographics
San D iego Coun ty Overv iew
Con f iden t ia l i ty
Con tac t I n forma t ion
Premier Location
Located in the supply constrained area of Point Loma/Loma Portal the site offer Buyers a rare opportunity to create a true legacy project in one of the
most dynamic locations in California. Strategically located across the street from Historic Liberty Station, the site presents an incredible opportunity for
redevelopment to mixed-use with residential apartments or condos.
Area Description
Minutes from Downtown and San Diego International Airport the property is ideally located in one of San Diego most sought-after communities. Point
Loma is home to the Old Point Loma Lighthouse at Cabrillo National Monument and home to the world's largest sportfishing fleet.
The site is directly across the street from Historic Liberty Station which is one of the most popular mixed-use projects in San Diego. Liberty Station
embodies both San Diego's deep military roots and the city's adaptability to the thriving arts and culture scene. Liberty Station is a 361-acre
mixed-use development on the site of the former Naval Training Center San Diego. The project includes several distinct districts: a retail and
commercial district with over 30 restaurants and the famous Liberty Public Market, a promenade focused on nonprofit activities, an educational
district, a residential district, a hotel district, an office district, and a park/open space area along the boat channel. The Naval Training Center site is
listed on the National Register of Historic Places, and many of the individual structures are designated as historic by the city of San Diego.
Offering Summary
Asking Price • Market Price - Submit All Offers
Property Tour • Site Visit By Appointment Only (Contact Agent)
Location • 2844, 2846, 2902, 2904 & 2918 Lytton Street, San Diego, CA 92110
Land Area • Approximately 37,135 Sq. Ft.
Building Size • Five (5) Commercial / Automotive Buildings | Approx. 7,734 Sq. Ft.
APN(s)
• 450-412-17-00 | 16,141 Sq. Ft. • 450-412-14-00 | 8,386 Sq. Ft. • 450-412-10-00 | 8,173 Sq. Ft. • 450-412-16-00 | 3,280 Sq. Ft. • 450-412-15-00 | 1,155 Sq. Ft.
Zoning
• CN-1-6, Commercial - Neighborhood (Link) • 1 Dwelling Unit Per 800 Sq. Ft. of Lot Area • Convenience Retail & Personal Services Uses • Uses Including but Not Limited to: Retail, Office, Eating & Drinking Establishments, Visitor Accommodations ... And Many Other Uses
Community Plan
• Midway-Pacific Highway Community Plan (Link) • Lytton District - Envisioned as a Residential Oriented District with Mixed-Use Residential Neighborhood Serving
Commercial Uses • Neighborhood Commercial with Residential Permitted
Development Regulations • Land Use Codes, Zoning Districts, Overlay Districts & Development Standards (Link) • Transit Priority Area (TPA) (Link)
Key
• 450-412-17-00 | 16,141 Sq. Ft.
• 450-412-14-00 | 8,386 Sq. Ft.
• 450-412-10-00 | 8,173 Sq. Ft.
• 450-412-16-00 | 3,280 Sq. Ft.
• 450-412-15-00 | 1,155 Sq. Ft.
Village & Districts Map
Neighborhood Commercial
- Residential Permitted
(0-54 du/ac)
Neighborhood Commercial -
Residential Permitted allows
small-scale, pedestrian oriented
commercial development that
primarily provides neighbor-
hood serving uses, such as
retail, service, civic, and office
uses. This designation pro-
motes primarily 1- to 2-story
development with active ground
-floor commercial uses, and
allows residential uses above or
behind commercial uses.
North San Diego Bay Harbor
Land Use Classification
SUBJECT PROPERTY
1
SUBJECT PROPERTY 2844-2918 Lytton Street, San Diego, CA 92110 Approx. 37,135 SF Redevelopment Opportunity
THE POST 2535 Midway Drive, San Diego, CA 92138
Approx. 230,000 SF Creative Office Campus
< Visit Website >
2
NIMITZ CROSSING 3903-3911 Voltaire Street, San Diego, CA 92107
24 Luxury Residential Units & Approx. 9,000 SF Retail
< Visit Website >
3
4
UPPER VOLTAIRE 4100 Voltaire Street, San Diego, CA 92107
Twenty Eight 2 & 3 Bed. 2.5 Bath Townhomes < Visit Website >
ON POINT, POINT LOMA 3030 Jarvis Street, San Diego, CA 92106 Fifteen 2 & 3 Bed, 2.5 Bath Townhomes
< Visit Website >
5
BELLAMAR, POINT LOMA 3025 Byron Street, San Diego, CA 92106
Sixteen Luxury Flats & Approx. 4,724 SF Retail < Visit Website >
6
SAN DIEGO INTERNATIONAL AIRPORT
North San Diego Bay Harbor
LIBERTY STATION
POINT LOMA MARINA
SPORTS ARENA SHOPPING CENTER OLD TOWN
POINT LOMA
MISSION BEACH
DOWNTOWN
MISSION HILLS
1 2 3
5
6
MISSION VALLEY
1 SUBJECT PROPERTY
2 THE POST
3 NIMITZ CROSSING
4 UPPER VOLTAIRE
5 ON POINT
6 BELLAMAR
OCEAN BEACH
4
1 2 3 4 5
BUILDING
Nest Hillcrest The Fort LOFT 2015 The Californian Loma 21
ADDRESS 4073 Albatross Street
San Diego, CA 92103
1011 Fort Stockton Dr
San Diego, CA 92103
2015 Hancock Street
San Diego, CA 92110
3233 Kempser Street
San Diego, CA 92110
2978 Worden Street
San Diego, CA 92110
UNIT SIZE (Average) 881 Sq. Ft. 896 Sq. Ft. 894 Sq. Ft. 894 Sq. Ft. 950 Sq. Ft.
$ / UNIT (Average) $2,711 $3,159 $2,244 $2,197 $2,438
$ / PSF (Average) $3.08 $3.53 $2.51 $2.46 $2.57
UNIT MIX (2) 1 Bed / 1 Ba
(8) 1 Bed / 2 Ba
(3) 2 Bed / 2 Ba
(6) 0 Bed / 1 Bath
(23) 2 Bed / 2 Ba
(2) 1 Bed / 1 Bath
(5) 2 Bed / 1 Bath
(7) 2 Bed / 2 Bath
(5) 0 Bed / 1 Ba
(47) 1 Bed / 1 Bath
(26) 2 Bed / 2 Bath
(7) 2 Bed / 1 Bath
(7) 2 Bed / 1.5 Bath
(7) 3 Bed / 1.5 Bath
5
SUBJECT PROPERTY
4
3
1 2
BUILDING ADDRESS SQ.
FT.
SALE
DATE
SALES
PRICE $ / PSF
1 Upper Voltaire 4100 Voltaire St #1 4100 Voltaire St #3 4100 Voltaire St #8 4100 Voltaire St #10 4100 Voltaire St #12 4100 Voltaire St #14 4100 Voltaire St #21 4100 Voltaire St #23
1,794 1,722 1,510 1,269 1,269 1,174 1,528 1,528
3/3/2020 10/28/2019 10/3/2019 12/2/2020
12/30/2019 11/22/2019 11/27/2019 12/16/2019
$ 1,150,000 $ 1,099,000 $ 1,060,760 $ 770,000 $ 749,000 $ 760,000 $ 901,060 $ 1,010,000
$ 641 $ 638 $ 702 $ 607 $ 590 $ 647 $ 590 $ 661
2 Bellamar 3025 Byron St #201 3025 Byron St #202 3025 Byron St #204 3025 Byron St #207
1,892 1,798 1,798 2,162
1/31/2020 10/18/2019 9/10/2019 12/3/2019
$ 635,000 $ 599,000 $ 608,000 $ 619,000
$ 335 $ 333 $ 338 $ 286
3 Fenelon 3024 Fenelon St 3026 Fenelon St
1,852 1,853
11/15/2019 8/11/2019
$ 645,000 $ 685,000
$ 348 $ 370
4 Garrison 3104 Garrison St 3106 Garrison St
1,700 1,900
3/3/2020 11/18/2019
$ 687,000 $ 699,000
$ 404 $ 368
5 Hugo Bay 3135 Hugo St 1,788 4/3/2020 $ 699,000 $ 391
6 One Point 3030 Jarvis St #2 3030 Jarvis St #5 3030 Jarvis St #10 3030 Jarvis St #11 3030 Jarvis St #15
1,846 1,950 1,721 1,712 1,712
1/7/2020 2/13/2020 2/14/2020 3/20/2020
10/25/2019
$ 729,000 $ 749,000 $ 710,000 $ 712,000 $ 749,000
$ 395 $ 384 $ 413 $ 415 $ 438
SUBJECT PROPERTY
1
2
3 4
5 6
LIBERTY PUBLIC MARKET 27 FOOD VENDERS
125 ACRE OPEN SPACE INCLUDING 46 ACRE WATER FRONT PARK
RESTAURANTS & BARS Stone Brewery // Slater’s 50/50 // Liberty Public
Market // Fireside by the Patio // Soda & Swine // Fig
Tree // Breakfast Republic // Cold Stone // Corvette
Diner // Dirty Birds // Five Guys // Harbor Greek Cafe //
Ikiru Sushi // Issara Thai // Luna Grill // Moniker
General // Officine Buona Forchetta // Panera Bread //
Sammy’s Woodfired Pizza // Smashburger // Subway //
Starbucks // Sushiya // Tender Greens
STORES Trader Joes // Vons // Crown Ace Hardware //
Boutiques // Liberty Station Cleaners // Moment
Bicycles // Navy Federal Credit Union
RECREATION The Lot Theater // Fitness Together // Kid Ventures //
Massage Envy // Pilates by the Bay // Point Loma Sports
Club // Sparkcycle // The Bar Method // Yoga Six Point
Loma // Golf Courses // Park Space // and More
San Diego Bay Harbor
SAN DIEGO AIRPORT
THE POST
SUBJECT PROPERTY
1 mile 3 mile 5 mile
POPULATION
Total Population (2019) 33,542 121,929 355,938
Total Population (2024) 36,542 127,914 370,557
Population Growth (2019 - 2024) 10.41% 4.91% 4.11%
Average Age 30.00 37.10 37.90
HOUSEHOLDS
Average Household Size 2.90 2.10 2.00
Total Households (2019) 9,856 51,781 162,687
HH Growth (2019-2024) 9.38% 3.86% 3.91%
INCOME
Average Household Income (2019) $78,691 $100,986 $94,606
Median Household Income (2019) $62,247 $75,631 $71,204
POPULATION BY RACE/ETHNICITY
White 21,755 98,698 281,766
African American 5,079 7,678 23,296
Asian 2,783 7,662 29,288
Other 3,479 7,892 21,588
REAL ESTATE MARKET SNAPSHOT
Renter Occupied Housing 7,663 31,494 108,911
Owner Occupied Housing 2,193 20,287 53,776
Median Home Value $739,226 $765,230 $701,018
Median Year Built 1983 1968 1972
Total Businesses 1,819 10,045 27,001
Total Employees 31,065 111,879 275,882
Source: Costar Demographic Reports
4
1
2
3
5 6
7 8
9 10
11
12
13
14
Pacific Ocean
SUBJECT PROPERTY
Location Time
San Diego International Airport 7 Min
Downtown San Diego 8 Min
Mission Valley 12 Min
La Jolla UTC 15 Min
U.S/Mexico Border 22 Min
Oceanside 40 Min
Orange County 80 Min
Los Angeles 120 Min
Drive Times
Tourist Attractions 1 LEGOLAND California
2 Del Mar Fairgrounds
3 Torrey Pines State National Reserve
4 La Jolla Cove
5 SDCCU Stadium
6 Belmont Park
7 University of San Diego
8 SeaWorld San Diego
9 Balboa Park
10 San Diego Zoo
11 USS Midway Museum
12 Cabrillo National Monument
13 Petco Park
14 U.S/Mexico Border
PETCO PARK
CABRILLO NATIONAL MONUMENT
BELMONT PARK
Tourism More than 35 million people visit San Diego each year who spend nearly $11.6 billion. With consistently desirable weather all year-round, 70 miles of coastline, ample amounts of family attractions, hiking, biking trails, as well as 90 golf courses and a large convention center, it is no surprise San Diego is ranked in the top 10 business and leisure destinations around the Country. Tourism employs more than 184,000 people or 13% of jobs in the county, in a variety of positions, as it ranks number three in San Diego’s traded economies. 50% of San Diego’s regional economy amounts from their local economy, this includes retailers, restaurants, professional and business service providers, and state-of-the-art healthcare. San Diego is consistently recognized as the Craft Beer Capital of America with more than 150 brewhouses, and ranked #2 best beer cities in America.
Innovation San Diego is recognized as one of the leading high-tech hubs in the U.S, with the most diverse high-tech sector in the nation and voted best place in America to launch a startup by Forbes magazine. With valuable innovations and technology, the city is anchored by established life science, communications, cleantech and software industries. San Diego has 50 colleges and universities, and more than 80 research institutes receive around $1.9 billion in annual federal and philanthropic funding to conduct ground–breaking technological and medical research. University of California San Diego is the second largest employer in San Diego. At San Diego State University, 60% of graduates stay in San Diego to pursue a career.
Military San Diego has the largest concentration of military in the world. The defense cluster plays a critical role in the region’s innovation, economy, and National security. The defense industry represents one out of every five jobs in the region. San Diego contains the highest number of active duty military, and numerous jobs are supported across all occupational types, representing one out of every five jobs in the region. The network of Sailors, Marines, members of the Reserves, civilian employees, aerospace firms, shipbuilders, electronics companies, software developers, researchers, and the various supply chains in San Diego represent a vital military ecosystem unparalleled anywhere else in the world.
Pacific Coast Commercial* (hereinafter “PCC”) has been retained as exclusive advisor and broker to the Owner regarding the sale of (the “Property”) located in the county of San
Diego at: 2884, 2846, 2902, 2904 & 2918 Lytton Street, San Diego, CA 92110. SITE VISITS BY APPOINTMENT ONLY. The Information contained in this Offering Memorandum (“Offering”) is confidential, furnished solely for the purpose of a rev iew by a prospective purchaser of 2844, 2846, 2902, 2904 & 2918 Lytton Street, San Diego, CA 92110 (the “Property”).
(The “Property”), and is not to be used for any other purpose or made available to any other person without the express written consent of Pacific Coast Commercial (“Broker”). The material is based in part upon information supplied by the Owner, and in part upon information obtained by Broker from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outlines of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Owner, Broker or any affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communications transmitted to a prospective purchaser in the course of its evaluation of the Property. Prospective purchasers should make their own projections and conclusions without reliance upon the material contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material used in the construction or maintenance of the building or located at the site. This Offering was prepared by Broker and has been reviewed by the Owner. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition, and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Offering, certain documents, including leases and other materials, are described in summary form. The summaries do not purport to be completely accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute recommendations, endorsements or advice as to the value of the Property by Broker or the Owner. Each prospective purchaser is to rely upon its own investigation; evaluation and judgment as to the advisability of purchasing the Property described herein. Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing this Offering or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Owner and any conditions to Owner obligation thereunder have been satisfied or waived. Broker is not authorized to make any representation or agreements on behalf of Owner. The Information provided has been reviewed as to both form and content by the owner and/or broker, but its accuracy has not been confirmed by “Broker”. By your receipt of this offering, you acknowledge that the information is derived entirely from the owner, and “Broker” does not warrant or guarantee the accuracy and advises you to undertake an independent investigation of the facts and information contained therein. In consideration for “Broker” to release the information, including address and location of said “Property”, you expressly agree that any and all such information, whether written, oral or electronic format, shall be kept strictly confidential and that you, your agents, employees, or assignees, shall not directly or indirectly disclose, release or give access to said information to any person or entity, except as may be necessary to have the information reviewed as part of the analysis for the purpose of purchasing same. You further agree to return all the information and documents provided if a transaction is not consummated upon request of “Broker”.
Lytton Street SAN DIEGO, CA 92110
The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning, financials, leases, square footage, permits and use should be verified during due diligence and prior to completing a purchase.
CONTACT INFORMATION
Redevelopment Opportunity | Point Loma | Liberty Station
KEN ROBAK Vice President of Brokerage (619) 469-3600 [email protected] Lic. 01236527
Tel (619) 469-3600 | Lic. 01209930 10721 Treena Street, Ste. 200 , San Diego, CA 92131 www.PacificCoastCommercial.com
AJ GEORGE Brokerage Associate Business & Investment Sales (619) 469-3600 [email protected] Lic. 01353648