Asking Price: $3,850,000

The subject property is a prime 0.22 acre redevelopment site located at 1014 Broadway in downtown San Diego. Currently operating as a small retail center, all leases on this property are on a month-to-month basis with the exception of one lease for a 1,600 SF space that expires in 2029. Broadway is a major east-west arterial through downtown San Diego and this site benefits from the exposure of 100' of frontage along Broadway as well as 100' of frontage along 10th Avenue. Zoning for this property is Centre City Planned District - Employment/Residential Mixed-Use (CCPD-ER). Base Floor Area Ratio (FAR) for the CCPD-ER zoning classification is 6.0 with a maximum of 10.0. A bonus FAR of 4.0 could also be taken advantage of to increase to possible maximum FAR of a new building on this site to 14.0. With an FAR of 10.0, a structure of 96,030 SF could be built. Including the bonus FAR, a structure of 134,442 SF could be built. This property qualifies as a Complete Communities Housing Solutions Tier 1 site which would allow a developer unlimited FAR. Additionally, the site is located within a Qualified Census Tract (QCT) as well as within a Difficult Development Area (DDA). The East Village district of downtown San Diego is the center of where much of the proposed residential growth under the Downtown Community Plan is expected to occur and, as a result, East Village is expected to experience considerable transformation over the next 20 years. The projected growth in the Northwest sub-district of the East Village is expected to ultimately transform the area into downtown San Diego'