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Garnet Pacific Plaza - Suite 120

$1,315,000

1940 Garnet Avenue, San Diego, CA 92109

Active
Last Updated: 09/18/2025

5.9

Cap Rate

77,688

NOI

Details:
Cap Rate:    5.9%
NOI:    $77,688
Suite Size:    4,561 sqft
Year Built:    1984
Price Per Sqft:    $288
Year Last Renovated:    2006
Highlights:
  • Centrally located office condo in Pacific Beach, one of San Diego's most desirable submarkets.
  • Offered below recent comps, which have averaged $343/SF with sales trading up to $469/SF.
  • Income + owner-user flexibility: currently leased with potential for future owner-occupancy.
  • Practical and efficient layout with central common area, perimeter offices, break room, and storage.
  • Recent capital improvements, with building-wide systems maintained through HOA oversight.
  • Situated within a well-maintained professional office building with longstanding reputation and strong curb appeal.
Description:

Property Description
Garnet Pacific Plaza offers a rare opportunity to acquire a 4,561 square-foot office condominium within a well-maintained 19,174 square-foot professional building in San Diego's Pacific Beach. The property is currently leased, providing stable in-place income while offering flexibility for a future owner-user. Priced below recent market comparables, the unit combines immediate cash flow with upside potential as market rents continue to strengthen.

The suite features a functional floor plan with a central common area, perimeter private offices, a break room, and dedicated storage. Constructed in 1984 and renovated in 2006, the building has benefited from ongoing maintenance and capital improvements overseen by the HOA, supporting long-term operational stability.

Location Description
Located in the heart of Pacific Beach, Garnet Pacific Plaza benefits from one of San Diego's most desirable coastal submarkets. The property offers excellent connectivity with quick access to Interstate 5, Mission Bay, and the greater San Diego region. Tenants and owners alike enjoy a vibrant environment surrounded by professional services, retail amenities, dining, and lifestyle destinations. This central coastal location makes the property a compelling option for both investors and future owners-occupiers seeking a well-positioned office asset.

Map:
Documents:
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