Point Loma Dive Bar For Sale3048 Midway Drive, San Diego, CA 92110

Rare Owner/User or Investor Purchase Opportunity

Owner/User or Investor opportunity to acquire a Dive Bar with the real estate in San Diego’s Point Loma/Midway District neighborhood.

Recently renovated bar with small kitchen and unrestricted Type 48 ABC License (no food service requirement).

Functional floor plan that includes a long bar with new 16-tap draft beer system, flat screen TV’s, point-of-sale system, projector screen, and operable front windows that open-up to the patio.

Simple conversion for an experienced hospitality operator to implement their own concept.

Packaged Sale: Includes fee simple ownership of real estate, existing liquor license, furniture, fixtures, & equipment.

Building: Approx 2,200 SF + PatioLot Size: 6,056 SFYear Built: 1953, Renovated: 2016Zoning: CommercialAPN Number: 441-630-07-00Liquor License: ABC Type 48 License (No Restrictions)

Highlights & Details

Price: $1,450,000

The Midway district of Point Loma is currently undergoing a massive redevelopment. With a focus on making the community less industrial and more residential, San Diego is re-aligning blocks of industrial properties with new streets, bike lanes, and vibrant retail plazas.

One of the highly anticipated major redevelopments of this area is the 52- year old sports arena stadium located in the heart of the Midway District. The city is currently seeking public feedback on two different design concepts that would turn the 48-acre site into either a massive mixed-use development, allowing for further residents and experiential entertainment for the community; or a redesigned modern arena to allow for future events and possible future sporting teams. Although this redevelopment will increase overall traffic congestion in the district, the city plans to combat this by improving public transportation, walkways, and provide bike lanes on streets.

In addition, Hammer Ventures, a commercial real estate developer, recently proposed a massive redevelopment of the old Midway Post Office. This 16-Acre site will be transformed into 230,000 square feet of class-A office. The over 1 million square feet of unused industrial space will also undergo a massive revitalization. The Navy Old Town Complex Revitalization project, a revitalization of 70-Acres of land, will be transformed into a mixed-use development focusing on both county and airport serving transportation.

Future Change…

*Conceptual Rendering

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sale comps

Old TriesteAddress: 2335 Morena Blvd, San Diego, CA 92110Building Size: 2,156 SF Lot Size: 9,401 SFSale Price: $1,415,000 ($656 PSF)Sale Date: 7/1/2019Cap Rate: N/A

Oscars Mexican FoodAddress: 3742 Midway Dr, San Diego, CA 92110Building Size: 1,250 SF Lot Size: 8,740 SFSale Price: $1,140,000 ($912 PSF)Sale Date: 7/25/2019Cap Rate: N/A

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Disclaimer - This document has been prepared by Next Wave Commercial Real Estate, Inc. for advertising and general information only. The information included has been obtained from sources believed to be reliable, and while we do not doubt its accuracy, we have not verified it and make no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Any interested party with their advisor(s) should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for their needs.

neighborhood

Residential Population: 1 Mile: 14,3733 Mile: 127,9445 Mile: 396,710

Business Population: 1 Mile: 22,8533 Mile: 116,1285 Mile: 290,378

Median Household Income:1 Mile: $69,7213 Mile: $85,4655 Mile: $76,753

Average Household Income:1 Mile: $101,1433 Mile: $110,0205 Mile: $102,563

Traffic Counts From Subject Site29,333 average daily traffic

POINT LOMA AT A GLANCE…

contact 619.326.4400Paul Ahernpaul@nextwavecommercial.comCA Lic. #01874163

1167 Morena BoulevardSan Diego, CA 92110 CA Lic. #02010077