Marcus & Millichap Brokers $1.625M Mixed-Use Property Sale In San Diego

The mixed-use property located at 441-43 Pennsylvania Avenue in San Diego was sold on 05/22/2024 for $1,625,000. This property, known as Fifth and Penn, comprises 2,867 square feet with a price per square foot of $567. The asset features a ground-floor restaurant, an apartment unit, and office space, making it a versatile mixed-use property in the sought-after market of San Diego.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,625,000
• Address: 441-43 Pennsylvania Avenue
• Market: San Diego
• Square Footage: 2,867
• Seller: Tom Fine - TJF 5th Ave, LLC
• Brokers: Nicholas Totah & Ross Sanchez - Marcus & Millichap

Marcus & Millichap, through the representation of brokers Ross Sanchez and Nick Totah, successfully facilitated the sale of Fifth and Penn. The property garnered substantial interest from potential buyers, entering escrow within a remarkably short period of two weeks. This swift transaction highlights the continuous demand for well-positioned assets in thriving markets like Hillcrest, which benefit from their proximity to vital areas such as downtown, the airport, and medical employment hubs.