OFFERING MEMORANDUM 1302

N. COAST HWY 101ENCINITAS, CA 92024

3,092 SF IN THE HEART OF LEUCADIA

1302FOR SALEOFFERING MEMORANDUM

Cushman & Wakefield has been retained as exclusive

advisor to the Seller for the sale of 1302 N. Coast

Highway 101, Encinitas, CA, a 3,092 SF multi-tenant

retail/office building.

This Offering has been prepared by Cushman &

Wakefield for use by a limited number of parties and

does not purport to provide a necessarily complete

summary of the Property or any of the documents

related thereto, nor does it purport to be all-inclusive

or to contain all of the information which prospective

investors may need or desire. All projections have been

developed by Cushman & Wakefield, the Owner, and

designated sources and are based upon assumptions

relating to the general economy, competition, and

other factors beyond the control of the Owner and

Cushman & Wakefield, therefore, are subject to

variation. No representation is made by Cushman &

Wakefield or Owner as to the accuracy or completeness

of the information contained herein, and nothing

contained herein is, or shall be relied on as, a promise

or representation as to the future performance of the

Property. Although the information contained herein

is believed to be correct, Owner and its employees

disclaim any responsibility for inaccuracies and expect

prospective purchasers to exercise independent due

diligence in verifying all such information. Further,

Cushman & Wakefield, Owner, and its employees

disclaim any and all liability for representations and

warranties, expressed and implied, contained in, or

for omission from, this Investment Offering or any

other written or oral communication transmitted or

made available to the recipient. This Offering does

not constitute a representation that there has been no

change in the business or affairs of the Property or the

Owner since the date of preparation of the package.

Analysis and verification of the information contained

in this package is solely the responsibility of the

prospective purchaser.

Additional information and an opportunity to inspect

the Property will be made available upon written request

to interested and qualified prospective investors.

Owner and Cushman & Wakefield each expressly

reserve the right, at their sole discretion, to reject

any and all expressions of interest or offers regarding

the Property and/or terminate discussions with any

entity at any time with or without notice. Owner shall

have no legal commitment or obligation to any entity

reviewing this Offering or making an offer to purchase

the Property unless and until a written agreement for

the purchase of the Property has been fully executed,

delivered, and approved by Owner and its legal counsel,

and any conditions to Owner’s obligations thereunder

have been satisfied or waived. Cushman & Wakefield

is not authorized to make any representations or

agreements on behalf of Owner.

This Offering and the contents, except such information

which is a matter of public record or is provided in

sources available to the public (such contents as

so limited herein are called the “Contents”), are of a

confidential nature. By accepting the package, you

agree (i) to hold and treat it in the strictest confidence,

(ii) not to photocopy or duplicate it, (iii) not to disclose

the package or any of the contents to any other

entity (except to outside advisors retained by you, if

necessary, for your determination of whether or not to

make a proposal and from whom you have obtained an

agreement of confidentiality) without the prior written

authorization of Owner or Cushman & Wakefield,

(iv) not use the package or any of the contents in

any fashion or manner detrimental to the interest of

Owner or Cushman & Wakefield, and (v) to return it

to Cushman & Wakefield immediately upon request of

Cushman & Wakefield or Owner.

If you have no further interest in the Property, please

return this Investment Offering forthwith.

OFFERING STATEMENT / DISCLAIMER

PACIFICOCEAN

BR

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MIRAMAR RD

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GEN

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ROSE

CRAN

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CARMELMOUNTAIN RD

BER NARDO CEN

TER

DR

ENCINITAS

CARLSBAD

NATIONAL CITY

ESCONDIDO

SAN MARCOS

POWAY

RANCHOBERNARDO

LEMONGROVE

CORONADO

POINT LOMA

OCEAN BEACH

MISSION BEACH

PACIFIC BEACH

LA JOLLA

DEL MAR

RANCHO SANTA FE

UTC

SORRENTOMESA

SCRIPPS RANCH

TORREY PINES

KEARNYMESA

MISSION VALLEY

DOWNTOWN

SOLANA BEACH

SANTEE

EL CAJON

LEUCADIA

GARNET AVEBALBOA AVE

LUSK

BLVD

PETER CURRY+1 760 310 0882

[email protected] #01241186


1302FOR SALE

PACIFICOCEAN

BR

JAMACHA BLVD

MARKET

LAJO

LLABLVD

ARDATH

EL CAJON BLVD

MIRAMAR RD

DEL MAR HEIGHTSRD

MAIN ST

.

POWAY RD



ELCA

MIN

OR

EAL

RANC

HOSA

NTA

FERD

ENCINITAS BLVD

MANCHES

TER

AVE

EL CAMINO DEL NORTE

DEL DIOS HIGHWAY

VIA DE LA VA

LLE

POMERADO RD

POM

ERAD

ORD


BLACKM

OU

NTAIN

RD

N

TORREYPIN

ESRD

GEN

ESSEE

MIS

SION GORGERD

FRIARS RD

ROSE

CRAN

S

CARMELMOUNTAIN RD

BER NARDO CEN

TER

DR

ENCINITAS

CARLSBAD

NATIONAL CITY

ESCONDIDO

SAN MARCOS

POWAY

RANCHOBERNARDO

LEMONGROVE

CORONADO

POINT LOMA

OCEAN BEACH

MISSION BEACH

PACIFIC BEACH

LA JOLLA

DEL MAR

RANCHO SANTA FE

UTC

SORRENTOMESA

SCRIPPS RANCH

TORREY PINES

KEARNYMESA

MISSION VALLEY

DOWNTOWN

SOLANA BEACH

SANTEE

EL CAJON

LEUCADIA


LUSK

BLVD

681011

PROPERTY INFORMATION

SITE PLAN + MAP

FEATURES

LOCATION

18 SALE COMPARABLES

OFFERING SUMMARY

1302 Coast Hwy 101, Encinitas, CA 92024

PROPERTY TYPE: One commercial building - Retail and Office

SUBMARKET: Encinitas

BLDG SF: 3,092

PARKING: 13 spaces

YEAR BUILT: 2012

OCCUPANCY: 100%

APN 254-222-61-00

LOT SIZE: 7,988 SF / 0.18 acres

ZONING: Commercial & retail mixed use

ASKING PRICE: $4,300,000

1302 N. Coast Hwy 101 / 7

Rent RollSuite Tenant Lease Expiration RSF % of Bldg $/SF $/Month $/Year

101 Haggo's Tacos 7/1/2023 1,386 44.8% $4.87 $6,750 $80,998

102 Vacant (Proforma) - 650 21.0% $5.00 $3,250 $39,000

201 Vacant (Optional to Vacate - Proforma) - 1,056 34.2% $5.25 $5,544 $66,528

TOTAL 3,092 $15,544 $186,526

Approximate Landlord Operating Expenses (@ asking price) $1.42 $4,390 $52,687

CAP = 3.4% $11,154 $133,839

Allowable Uses per Zoning - City of EncinitasCommercial allows a wide range of general commercial activities, including retailing, service and visitor-serving uses with the intent of accommodating citywide or regional needs and serving the needs of persons visiting the city for business and recreational purposes.

Mixed Use allows commercial and residential uses at a maximum density of 25.0 dwelling units per net acre on the same property or in the same structure, with the intent of providing opportunities for housing and live/work or artisan loft arrangements, while also mitigating the impacts between commercial and residential uses.

Residential allows single-family detached, multi-family detached or attached residential units at a maximum density of 25.0 dwelling units per net acre.

Development Standards - Commercial or Mixed-Use Developments

Net Lot Area: 6,000 net square feet minimum

Lot Width: 75 feet

Lot Depth: 80 feet

Front Yard Setback: 0 feet

Side Yard Setback for each interior side: 0 feet

Side Yard Setback street side: 0 feet

Rear Yard setback: 0 feet

Lot Coverage (Max.) 90 percent

Building Heights Maximum: 30 feet or 2 stories, whichever is less.

Landscaping: 10 percent

Off-Street Parking: See Parking Requirements

Floor Area Ratio: No requirement

8

ALLEY

NORTH COAST HIGHWAY

JASO

NSR

EET

SID

EW

ALK

NORTH

RAM

P

3

SUITE 101

RETAILLEVEL 1: SUITE 102LEVEL 2: SUITE 201

CORNER PLAZA W/ DECORATIVE PAVING

22'-6

"

LOADING SPACE

3'-11"

B

SITE PLAN

JUPITER ST.

EXISTING

1302 N. Coast Hwy 101 / 9

JUPITER ST.

PROPOSED LAYOUT4 ONE-BEDROOM UNITS - LOFT LEVEL

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DATE:SHEET

SCALE:

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REN.DATE: 09/30/19

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SUBMITTALS / REVISIONS

# Date Revision/Submittal

4 ONE-BEDROOM UNITS515 SF EA.2,060 SF TOTAL

PARKIGN REQUIRED:4x1.5=6

10

• High quality, LEED certified building recently built in 2012

• Outstanding North County location situated in the heart of Leucadia on historical Highway 101

• Encinitas' most expansive zoning - allowing for most commercial activities, including restaurants, as well as multi-family residential (25 units per acre)

• Opportunity to expand the building and increase square footage

• Well-positioned within the future Leucadia Streetscape Plan, with sidewalks, alcoves, and pedestrian-friendly atmosphere

• Expansive patios on both 1st + 2nd floors maximizing the Property’s appeal towards the pedestrian atmosphere

• Unsurpassed location in one of San Diego's premier coastal communities offering access to food, shopping, services and the beach

FEATURES

1302 N. Coast Hwy 101 / 11

PACIFICOCEAN

BR

JAMACHA BLVD

MARKET

LAJO

LLABLVD

ARDATH

EL CAJON BLVD

MIRAMAR RD

DEL MAR HEIGHTSRD

MAIN ST

.

POWAY RD



ELCA

MIN

OR

EAL

RANC

HOSA

NTA

FERD

ENCINITAS BLVD

MANCHES

TER

AVE

EL CAMINO DEL NORTE

DEL DIOS HIGHWAY

VIA DE LA VA

LLE

POMERADO RD

POM

ERAD

ORD


BLACKM

OU

NTAIN

RD

N

TORREYPIN

ESRD

GEN

ESSEE

MIS

SION GORGERD

FRIARS RD

ROSE

CRAN

S

CARMELMOUNTAIN RD

BER NARDO CEN

TER

DR

ENCINITAS

CARLSBAD

NATIONAL CITY

ESCONDIDO

SAN MARCOS

POWAY

RANCHOBERNARDO

LEMONGROVE

CORONADO

POINT LOMA

OCEAN BEACH

MISSION BEACH

PACIFIC BEACH

LA JOLLA

DEL MAR

RANCHO SANTA FE

UTC

SORRENTOMESA

SCRIPPS RANCH

TORREY PINES

KEARNYMESA

MISSION VALLEY

DOWNTOWN

SOLANA BEACH

SANTEE

EL CAJON

LEUCADIA


LUSK

BLVD

LOCATIONFEATURESSpanning approximately 20 miles along the coast in San Diego’s North County, the city of Encinitas is an upscale community and is considered “One of the 20 Best Surf Towns in the World.” Located along six miles of Pacific Ocean coastline, Encinitas is bordered by Carlsbad to the north, the Elfin Forest Recreational Reserve and Escondido to the east, and Solana Beach to the south. The city has an estimated resident population of 60,000 who are attracted to the casual oceanfront community for its magnificent beaches, executive residential communities, regional access and numerous amenities and recreational options.

ENCINITAS, CALIFORNIA

AREAHIGHLIGHTS

LOCATION & ACCESS

Incorporated in 1986, the city of Encinitas is a picturesque community characterized by beautiful beaches, seaside cliffs, flat-topped coastal areas, steep mesa bluffs and rolling hills.

Encinitas encompasses the communities of New Encinitas, Old Encinitas, Cardiff-by-the-Sea, Olivenhain and Leucadia. These communities offer a unique blend of businesses, residences and amenities, and together create an eclectic, multifaceted city.

Encinitas is known as the “Flower Capital of the World,” due to its extensive collection of unique nurseries and gardens, highlighted by the San Diego Botanic Garden, which includes nearly 4,000 plant types from all over the world and over 37 acres of exhibits.

Located approximately 25 miles north of downtown San Diego, Encinitas is served by Interstate 5 and Highway 101, both of which provide north/south access throughout the region.

Interstate 5 also provides connections to State Routes 78 and 56, located within 10 miles to the north and south, respectively. These freeways provide direct access to Interstate 15 and North County’s inland communities.

Encinitas offers a mass transit station with service by North County Transit’s Coaster commuter rail and Amtrak’s Pacific Surfliner passenger train. Together, these services provide an ideal alternative for visitors and commuters with convenient access to Orange County, Los Angeles and Downtown San Diego.

In addition to the executive residences offered within Encinitas, several prestigious communities are also located nearby, including Carlsbad, Rancho Santa Fe, Fairbanks Ranch, Del Mar, 4S Ranch, and Solana Beach.

12

LOCAL AMENITIES

BEACON'SBEACH

HOTEL

SUBJECT PROPERTY

1302 N. Coast Hwy 101 / 13

GRANDVIEWSURF BEACH

SOUTHPONTOBEACH

Appendix Preliminary EBR Renderings

24

UNDER CONSTRUCTION 130-ROOM, 4.5-STAR

BOUTIQUE HOTEL

14

AREA IMPROVEMENTSLEUCADIA STREETSCAPE PLANThe Leucadia Streetscape plan focuses on preserving and revitalizing the N Coast Highway 101 Corridor. It strives to restore the landscape of the corridor while evolving how this public space serves the community. The project vision is to create an environment that enhances the lives of residents and visitors in a wide variety of ways. This includes encouraging community engagement, offering space for community gathering, sidewalk dining, the display of retail goods, outdoor public seating and the showcasing of public art.

• Improved safety, walkability & bicycle access via wider sidewalks, dedicated bike lanes, and roundabouts

• Installation of street lighting in historic style to support nighttime pedestrian use and activities

• Art nodes will be installed throughout the corridor featuring public art, community seating and providing a space to gather

• Reforest Hwy 101 with close to 1,000 new trees, creating negative carbon offset & preservation of 92.5% of the existing tree canopy

• Installation of 4-6 roundabouts will calm traffic and also offer new space for public art and native landscaping

• Increase of the existing parking by nearly 25% through the use of drive lane narrowing and diagonal reverse angle parking

• Addition of East Side Hwy 101 parking pods in the NCTD rail corridor

SITE

1302 N. Coast Hwy 101 / 15

L E U C A D I A S T R E E T S C A P E | O V E R A R C H I N G G O A L S

Increase of the existing parking by

nearly 25% through the use of drive

lane narrowing and diagonal reverse

angle parking

North Court to Basil St

Leucadia Blvd to Diana St

Jupiter St to Avocado St

Parking Pod Locations:

PARK ING IMPROVEMENTS

Addition of East Side Highway 101

parking pods in the NCTD rail corridor

to benefit businesses by increasing safe

parking options for their customers

L E U C A D I A S T R E E T S C A P E | O V E R A R C H I N G G O A L S

Increase of the existing parking by

nearly 25% through the use of drive

lane narrowing and diagonal reverse

angle parking

North Court to Basil St

Leucadia Blvd to Diana St

Jupiter St to Avocado St

Parking Pod Locations:

PARK ING IMPROVEMENTS

Addition of East Side Highway 101

parking pods in the NCTD rail corridor

to benefit businesses by increasing safe

parking options for their customers

East Side Highway 101 parking pods in the NCTD rail corridorIncrease existing parking with diagonal reverse angle parking

16

Recently named among the 20 best surf towns in the world by National Geographic, Encinitas offers some of the world’s most desirable beaches along its six miles coastline. A local favorite is Swami’s beach, which was immortalized in the song “Surfin’ USA” by the Beach Boys. Additionally, Moonlight State Beach offers recreation and fire rings for post-sunset bonfires and barbecues.

The city is host to nearly 300 retail stores and includes more than 10 shopping centers. Popular shopping centers include Camino Village Plaza, Camino Encinitas Plaza, El Camino Promenade and El Camino Commons.

Downtown Encinitas is over 100 years old and features historic architecture, boutiques, sidewalk cafes, and restaurants, together creating the Downtown 101 coastal shopping district. Downtown 101 also features several cultural offerings including a theatre and art galleries.

The city is celebrated for its San Diego Botanic Garden, which includes nearly 4,000 types of plants and over 37 acres of exhibits, desert gardens, a tropical rainforest, Mediterranean climate landscapes, an undersea succulent garden, a subtropical fruit garden and the largest interactive children’s garden on the West Coast.

An abundance of outdoor recreation is offered at the city’s local beaches and the 900-acre San Elijo Lagoon Reserve, including surfing, hiking, boating, tennis, fishing, hang gliding, bicycling, and camping. Home to nearly 300 different bird species throughout the year, the San Elijo Lagoon Reserve also offers some of the world’s best bird watching.

Other key destinations in and near Encinitas include the 18-hole championship Encinitas Ranch Golf Course, the Park Hyatt Aviara Resort Golf Club & Spa, Torrey Pines Golf Course, Legoland, Del Mar Thoroughbred Club race track, and the Omni La Costa Resort & Spa.

LOCALAMENITIES

LOCAL AREA AT A GLANCE - 5 MILE RADIUS

128,866Population

50,561# of Households

$113,484Median Household

Income

$835,138Median Home Value

82,431Daytime Population

41Average Age

263Sunny Days / Year

1302 N. Coast Hwy 101 / 17

18

SALE COMPARABLES

The Capri960 S. Coast Highway 101, Encinitas

Size/Type: 5,027 SF Retail

Year Built: 2017

Sale Date: 9/18/2018

Sale Price: $4,625,000 ($920/SF)

Sale Type: Investment

CAP Rate: 5.05%

Buyer: Jose G DaRosa

Seller: Mayfair Homes - Mehran Saberi

Comments: NNN investment; 1031 exchange

1234 Camino Del Mar1234 Camino Del Mar, Del Mar

Size/Type: 2,064 SF Offi ce

Year Built: 1968

Sale Date: 7/6/2018

Sale Price: $3,950,000 ($1,914/SF)


CAP Rate: n/a

Buyer: Mountain Jeff erson LP

Seller: Jeff erson Family TrustComments: 100% Leased at Sale

Downtown Cardiff 2041 Newcastle Ave., Cardiff By The Sea

Size/Type: 2,600 SF Retail/Offi ce

Year Built: Unknown


Sale Price: $2,540,000 ($977/SF)


CAP Rate: 4.63%

Buyer: Liverpool ZN LLC/John Zagara

Seller: Patrick Conahan/Betty Steele

Comments: All cash; Plan to redevelop property; 10,454 SF Land - $242.97/SF.

Cardiff Post Offi ce2027 Newcastle Ave., Cardiff By The Sea

Size/Type: 4,240 SF Retail

Year Built: 1968

Sale Date: 1/4/2018

Sale Price: $4,250,000 ($1,002/SF)


CAP Rate: 3.0%

Buyer: Cardiff Towne Center LLC

Seller: Charles R. Brockett

Comments: All cash; Plan to redevelop property; 20,857 SF Land - $203.77/SF.

264 N. Coast Highway 101264 N. Coast Highway 101, Encinitas


Year Built: 1936 / Ren. 2005

Sale Date: 12/22/2017

Sale Price: $1,250,000 ($817/SF)


CAP Rate: Unknown

Buyer: Erik Gilmer

Seller: Brent E. Jones

Comments: None

2211 Newcastle Avenue2211 Newcastle Avenue, Cardiff By The Sea


Year Built: 1960

Sale Date: 9/8/2017

Sale Price: $1,350,000 ($1,286/SF)

Sale Type: Owner/User

CAP Rate: Unknown

Buyer: Jigar & Dev Patel

Seller: Kari A. Johnson

Comments: None

Former Bully’s Restaurant1404 Camino Del Mar, Del Mar

Size/Type: 3,708 SF Restaurant

Year Built: n/a


Sale Price: $5,235,000 ($1,412/SF)

Sale Type: User

CAP Rate: Unknown

Buyer: Hillstone Restaurant Group

Seller: Yuhause-Becker B A Trust

Comments: Property to be renovated to R&D Kitchen0% Leased at Sale

Solana Beach Retail652 Stevens Ave., Solana Beach

Size/Type: 1,600 SF Freestanding Retail

Year Built: 1958


Sale Price: $1,300,000 ($813/SF)

Sale Type: Not provided

CAP Rate: n/a

Buyer: Azita Vakili DMD

Seller: Jane F Bucciarelli

Comments: No details provided.

1302 N. Coast Hwy 101 / 19

1000 Aviara Pkwy., Ste. 100 Carlsbad, CA 92011+1 760 431 4200 +1 760 454 3869

PETER CURRY+1 760 310 0882

[email protected] #01241186

Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the infor-mation contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

www.cushwakeprivateclient.com

1302FOR SALE

OFFERING MEMORANDUM


OFFERING MEMORANDUM 1302

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