1025 Associates LLC And Wedge 3.0 LLC Acquire Mixed-Use Asset In La Jolla For $10.3M
1025 Prospect Street
$10,300,000
$311/SF
Building Size
33,055 SF
Asset Type
Mixed-use
Closing
Feb 27, 2026
AI
The mixed-use asset located at 1025 Prospect Street, La Jolla, recently sold for $10,300,000. The property encompasses 33,055 square feet and includes retail, restaurant, and office space. Renovations were completed in 2022 and 2024, enhancing its appeal and functionality.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,300,000
- Address: 1025 Prospect Street
- Market: La Jolla
- Square Footage: 33,055
- Price Per Square Foot: $312
- Buyer: 1025 Associates LLC & Wedge 3.0 LLC
- Seller: 1025 Prospect LLC
- Brokers: Nick Totah & Ross Sanchez - Marcus & Millichap
Nick Totah and Ross Sanchez of Marcus & Millichap represented the sellers, 1025 Prospect LLC, in this transaction, highlighting their involvement in facilitating the sale of the property to the buyers, 1025 Associates LLC & Wedge 3.0 LLC.
Players
La Jolla Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93